BRENTON HALL and Hampden Manor narberth, pa

NARBERTH, PENNSYLVANIA

MacLarenT • Talone • TownsendT MultifamilyM Housing Specialists

www.maclaren-group.com exclusively listed brenton hall Hampden Manor 115 North Essex Avenue 325 Haverford Avenue Narberth, PA 19072 Narberth, PA 19072 26 UNITS 14 UNITS MacLaren • Talone • Townsend& | Multifamily Housing Specialists Clarke Talone Andrew Townsend Ridge MacLaren Dan Bernard First Vice President Investments First Vice President Investments Senior Vice President Investments Senior Associate PHILADELPHIA OFFICE PHILADELPHIA OFFICE PHILADELPHIA OFFICE PHILADELPHIA OFFICE Tel: 215.531.7021 Tel: 215.531.7020 Tel: 215.531.7019 Tel: 215.531.7022 [email protected] [email protected] [email protected] [email protected] License: PA RS299113 License: PA RS304074 License: PA RB-063070-L License: PA RS331381 License: NJ 0787408 License: NJ 0680787 License: PA RM042723B License: DE RS-0019808 License: DE RS-0019885 License: NJ 0673619 License: DE RB-0002461

MacLarenT • Talone • TownsendT MultifamilyM Housing Specialists BRENTON HALL & HAMPDEN MANOR CONFIDENTIALITY & DISCLAIMER The information contained in the following Marketing Brochure is Introduction proprietary and strictly confidential. It is intended to be reviewed only • Investment Overview by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to 1 provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough Financial Analysis due diligence investigation. Marcus & Millichap has not made any • Rent Roll Summary investigation, and makes no warranty or representation, with respect • Operating Statement & Notes to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the 2 property and improvements, the presence or absence of contaminating Property Description substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the • Brenton Hall financial condition or business prospects of any tenant, or any tenant’s - Detailed Investment Overview plans or intentions to continue its occupancy of the subject property. The - Photos information contained in this Marketing Brochure has been obtained 3 from sources we believe to be reliable; however, Marcus & Millichap has - Aerial not verified, and will not verify, any of the information contained herein, • Hampden Manor nor has Marcus & Millichap conducted any investigation regarding these - Detailed Investment Overview matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential - Photos buyers must take appropriate measures to verify all of the information - Aerial set forth herein. • Location Overview

NON-ENDORSEMENT NOTICE • Local Map Marcus & Millichap Real Estate Investment Services, Inc. (“M&M”) is • Public Transportation Map not affiliated with, sponsored by, or endorsed by any commercial tenant • Regional Map or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of M&M, its Rent Comparables affiliates or subsidiaries, or any agent, product, service, or commercial • Map listing of M&M, and is solely included for the purpose of providing • Comparables tenant lessee information about this listing to prospective customers. 4 RENT DISCLAIMER Any rent or income information in this offering memorandum, with the Sales Comparables exception of actual, historical rent collections, represent good faith • Map projections of potential future rent only, and Marcus & Millichap makes no representations as to whether such rent may actually be attainable. • Comparables Local, state, and federal laws regarding restrictions on rent increases 5 SPECIAL COVID-19 NOTICE may make these projections impossible, and Buyer and its advisors All potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and should conduct their own investigation to determine whether such rent seek expert opinions as they may deem necessary, especially given the unpredictable changes resulting from the continuing COVID-19 increases are legally permitted and reasonably attainable. pandemic. Marcus & Millichap has not been retained to perform, and cannot conduct, due diligence on behalf of any prospective purchaser. Marcus & Millichap’s principal expertise is in marketing investment properties and acting as intermediaries between buyers ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. and sellers. Marcus & Millichap and its investment professionals cannot and will not act as lawyers, accountants, contractors, or PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR engineers. All potential buyers are admonished and advised to engage other professionals on legal issues, tax, regulatory, financial, and MORE DETAILS. accounting matters, and for questions involving the property’s physical condition or financial outlook. Projections and pro forma financial statements are not guarantees and, given the potential volatility created by COVID-19, all potential buyers should be comfortable with ACTIVITY ID: Y0990007 and rely solely on their own projections, analyses, and decision-making. BRENTON HALL & hampden manor

INTRODUCTION Investment Overview BRENTON HALL & HAMPDEN MANOR introduction

BRENTON HALL HAMPDEN MANOR ADDRESS 115 North Essex Ave. ADDRESS 325 Haverford Ave. Narberth, PA 19072 Narberth, PA 19072 # OF UNITS 26 # OF UNITS 14 RENTABLE SF 12,420 RENTABLE SF 9,044 YEAR BUILT 1926 YEAR BUILT 1963 LOT SIZE 0.26 Acres LOT SIZE 0.4 Acres

investment highlights . . .

• 40 Units - Two Suburban Trophy Properties Located in an Irreplaceable Main Line Location

• 88 Walk Score - 3 Minute Walk to Narberth Train Station and Downtown Narberth, which Features Shopping, Dining and Parks

• Well Maintained with Numerous Capital Improvements, Including Roof and Boilers at Brenton Hall, and Flooring and Windows/Sliding Doors at Hampden Manor

• Value Add - Up to $200 Upside in Rents Through Unit Renovations BRENTON HALL & HAMPDEN MANOR introduction investment OVERVIEW

Marcus & Millichap is pleased to present for sale Brenton Hall and Hampden Manor - 40 units located in Narberth, on the Main Line, Pennsylvania. Brenton Hall is a 26-unit building, and Hampden Manor consists of two 7-unit buildings. The two communities are located just 0.25 miles apart.

Brenton Hall’s unit mix comprises (13) studio/one-bath unit, and (13) one-bedroom/one-bath units. The building is impeccably maintained, with many recent capital improvements. The interior common areas of the building have been recently renovated, with new carpeting and a modern color palette. Units feature original trim, built-ins, hardwood floors, and French doors, but have been updated with fresh paint, new lighting/ fixtures, and modern kitchens in select units. Each unit is unique, featuring various historic built-ins, different architectural details, and pleasing paint colors. The building has an on-site laundry facility. There is ample space for a new investor to add amenities for the residents, such as a lounge, fitness center, and storage.

Hampden Manor’s unit mix comprises (12) one-bed/one bath units, and (2) two-bedroom/one-bath units. The units range in size from 445-1,025 SF. Most units feature a balcony or patio. The buildings are impeccably maintained, with many recent capital improvements. These include new double-glazed windows and sliding doors throughout, new commercial- style garage doors and newer exterior paint and signage. Units have had flooring upgraded to plank vinyl in attractive “Colorado Hickory”.

While both properties have been maintained in excellent condition and continue to experience strong occupancy, their rents are below the competitors in the submarket. A unit renovation plan that would include upgraded kitchens and baths would allow an investor to increase rents and achieve a strong return on investment. Narberth, with a quaint and walkable downtown, is one of the most desirable communities along the famed Main Line. There is a significant delta between current rents at Hampden Manor/Brenton Hall and the renovated/new apartment communities in Narberth. This will allow an investor to increase rents, while still providing a comparatively affordable option for the residents looking to rent in the Narberth community. These buildings will be delivered free and clear of debt, allowing an investor to take advantage of the attractive financing market. BRENTON HALL & hampden manor

FINANCIAL ANALYSIS

Rent Roll Summary Operating Statement & Notes BRENTON HALL & hampden manor FINANCIAL ANALYSIS rent roll summary

UNIT TYPE # OF UNITS APPROX. SF CurrentCURRENT RENTS RENT/SF MONTHLY INC. ProP.F. Forma RENTS RENT/SF MONTHLY INC. Studio/1 Bath Small - Brenton 1 300 $810 $2.70 $810 $900 $3.00 $900 Studio/1 Bath - Brenton 12 470 $1,029 $2.19 $12,348 $1,200 $2.55 $14,400 1 Bed/1 Bath Jr. - Brenton 1 470 $850 $1.81 $850 $1,250 $2.66 $1,250 1 Bed/1 Bath - Brenton 6 490 $1,064 $2.17 $6,384 $1,350 $2.76 $8,100 1 Bed/1 Bath Large - Brenton 6 580 $1,241 $2.14 $7,446 $1,450 $2.50 $8,700 1 Bed/1 Bath - Hampden 6 486 $1,233 $2.54 $7,398 $1,375 $2.83 $8,250 1 Bed/1 Bath Large - Hampden 6 613 $1,270 $2.07 $7,620 $1,525 $2.49 $9,150 2 Bed/1 Bath - Hampden 2 1,025 $1,980 $1.93 $3,960 $2,100 $2.05 $4,200 TOTALS/WEIGHTED AVG. 40 537 $1,170 $2.18 $46,816 $1,374 $2.56 $54,950 GROSS ANNUALIZED RENTS $561,792 $659,400 BRENTON HALL & hampden manor FINANCIAL ANALYSIS operating statement

PRO FORMA PRO FORMA CURRENT PRO FORMA PER UNIT PER SF OPERATING STATEMENT NOTES: INCOME (1) Gross Potential Rent was calculated by annualizing the 4/20/21 Gross Potential Rent 659,400 682,479 17,062 31.78 rent rolls and applying market rent to Loss/Gain to Lease (97,608) / 14.8% (34,124) / 5.0% (853) (1.59) the vacant units. Expenses are from Gross Scheduled Rent (1) 561,792 648,355 16,209 30.19 T12 period through March 2021. Physical Vacancy (28,090) / 5.0% (32,418) / 5.0% (810) (1.51) (2) Garage Income shown has been reported on T12 through March 2021. Total Vacancy ($28,090) / 5.0% ($32,418) / 5.0% ($810) ($2) (3) Other Income shown is taken from Effective Rental Income 533,702 615,937 15,398 28.68 the March T12 statement plus an Other Income additional $1,500 of Laundry Income Garage Income (2) 21,160 23,000 575 1.07 to account for contract signed at Hamdpen Manor in September 2020. All Other Income (3) 8,022 8,500 213 0.40 (4) Real Estate Taxes have been Total Other Income $29,182 $31,500 $788 $1.47 calculated using current assessments Effective Gross Income $562,884 $647,437 $16,186 $30.15 and 2021 millage rates. The Narberth Business Privilege Tax has been added. EXPENSES Year 1 Per Unit Per SF (5) Insurance: We used a market Real Estate Taxes (4) 115,550 117,000 2,925 5.45 standard of $300 per unit for Insurance (5) 12,000 12,000 300 0.56 Insurance based on conversations Electric (6) 4,361 4,500 113 0.21 with insurance broker. (6) Electric: Brenton Hall incurred an Water & Sewer 15,107 15,500 388 0.72 Electric charge of $2,470 that will Gas 15,359 15,750 394 0.73 not be recurring. This is a one-time Repairs and Maintenance (7) 20,000 20,000 500 0.93 expense that has been removed in this analysis. Contract Services 11,974 12,275 307 0.57 (7) Repairs & Maintenance: For this Marketing & Advertising 10,157 7,500 188 0.35 analysis, we used a market standard General & Administrative 6,415 6,500 163 0.30 of $500 per unit. Management Fee (8) 22,515 / 4.0% 25,897 / 4.0% 647 1.21 (8) Management Fee: We used a Total Expenses $233,438 $236,922 $5,923 $11.03 market standard Management Fee of 4%. Expenses as % of EGI 41.5% 36.6% Net Operating Income $329,446 $410,515 $10,263 $19.12 BRENTON HALL & hampden manor

PROPERTY DESCRIPTION Detailed Investment Overview Exterior Photos Common Area Photos Unit Photos Aerial Location Overview Local Map Public Transportation Map Regional Map BRENTON HALL property description brenton hall - detailed investment overview

Brenton Hall represents the unique opportunity for an investor to acquire an attractive, well-performing property with no deferred maintenance, and significant upside in rent. building investment highlights Brenton Hall is a beautiful, four-story brick building located a • Ideal Transit-Oriented Location half-block away from the Narberth Train Station. The building is • High Demand/ Easy to Lease in very good shape, and the building systems have undergone many recent capital improvements. Notably, twin high • Quality Tenant Base efficiency Buderus boilers were installed. The roof was recently • High Net-Worth Area with Great Appreciation Potential replaced with a White TPO roof, featuring heated scuppers and • Ability to Increase Rents With Unit Upgrades downspouts. and Added Amenities

The property features a laundry room on-site. Additionally, there is a significant amount of vacant space that could be utilized as building highlights and capital improvements amenity space. A new investor could potentially add a lounge, • Great Mix of Large Studios, Small One-Bedroom and a fitness center, or tenant storage units. Medium One-Bedroom Units • Newer High Efficiency Twinned Buderus Boilers While the property is in good shape, units would benefit from • Recent Roof Replacement, White, TPO Featuring Future- kitchen and bath updates. These upgrades would reposition the Proofed, Upsized and Heated Scuppers and Downspouts asset, commanding rent increases and providing an excellent • Custom Signage with Internal LED Lighting return on investment. Due to its outstanding location within for Curb Appeal walking distance of the quaint downtown and the train station, there is significant room to increase rents with kitchen and bath • On-Site Laundry Facilities upgrades. Recent new developments such as Maybrook and • Room to Add Exercise Equipment and Rentable Storage The Elm (currently in construction) show the strength of the • Intercom Panel with Door Releases submarket. These communities command (and will command) • Attractive Landscaping over $3/square foot. A new investor has the ability to increase • One-Half Block to Train Station rents at Brenton Hall, while still remaining an affordable option for residents who want to live in desirable Narberth. BRENTON HALL property description exterior photos

Custom Signage Exterior Lighting on Astronomical Timers, and Silane-Coated Sidewalks BRENTON HALL property description common area photos

Updated Interior Common Areas with Modern Color Palette & Custom Signage

Hand Stenciled Unit Numbers

On-Site Laundry Room Interchangeable Core Locks BRENTON HALL property description unit photos BRENTON HALL property description aerial

* Outline denotes general location of property. Not an accurate representation of actual property lines. property description Hampden Manor hampden manor - detailed investment overview

Hampden Manor represents the unique opportunity for an investor to acquire an attractive, well- performing property with no deferred maintenance, and significant upside in rent. building investment highlights Hampden Manor consists of two beautiful, two-story brick • Ideal Transit-Oriented Location buildings located on attractive grounds just a short walk from • High Demand/ Easy to Lease downtown Narberth. The buildings are in very good shape and • Quality Tenant Base boast excellent curb appeal, with recent painting and signage. • High Net-Worth Area with Great Appreciation Potential The property features off-street and garage parking, which generates additional income. There is a laundry facility on-site. building highlights and capital improvements The attractive units all feature newer commercial-grade vinyl • Great Mix of Modern & Stylish One-Bedroom and plank flooring, as well as patios/balconies in select units. Two-Bedroom Units, Most with a Balcony or Patio • Quality Concrete Panel Construction Upgrades to the units’ kitchens and baths would reposition the • Newer Double-Glazed Windows and Sliding Doors Throughout asset, commanding rent increases and providing an excellent • Newer Exterior Paint and Signage return on investment. Due to its outstanding residential location • Income-Generating Off-Street and In-Garage Parking within walking distance of quaint downtown Narberth, there is • Storage Bins for Every Apartment significant room to increase rents with kitchen bath upgrades. • Attractive Landscaping A new investor has the ability to increase rents at Hampden • Flooring Upgrade to Plank Vinyl in “Colorado Hickory” Manor, while still remaining an affordable option for residents that want to live in desirable Narberth. property description Hampden Manor exterior photos

Exterior Completely Repainted

New Exterior Signage Attractive Landscaping, Exterior Lighting on Astronomical Timers, and Silane-Coated Sidewalks property description Hampden Manor common area photos

Garage Parking Available Under Building

Extra Storage Available property description Hampden Manor unit photos

New Commercial-Grade Vinyl Plank Flooring New Double-Glazed Windows & Sliding Doors

New Zero-Maintenance Toilets Private Balconies and Patios property description Hampden Manor aerial

WINDSOR AVENUE

HAMPDEN AVENUE

IONA AVENUE HAVERFORD AVENUE

* Outline denotes general location of property. Not an accurate representation of actual property lines. BRENTON HALL & hampden manor introduction location OVERVIEW

renton Hall & hampden manor are located in Narberth, Montgomery County, BPennsylvania. The Borough sits on the historic Pennsylvania Main Line, and is one of the most desirable submarkets in the Philadelphia region. Residents of the properties are drawn to these particular buildings due to their proximity to the village of downtown Narberth, and the lifestyle available there.

Narberth is the third train stop out of Center City. The borough is unique because it is one of the few Main Line downtowns that isn’t located directly on Lancaster or Montgomery Avenue - It is situated right between the two major thoroughfares, making Narberth safe and walkable.

The Narberth Train Station is located just one half block from Brenton Hall, and one-quarter mile from Hampden Manor. The station is served by SEPTA’s Paoli/Thorndale Line, which runs from Center City Philadelphia out to Thorndale in western Chester County. Trains run approximately every 1/2 hour, and riders can be in Center City in fewer than 15 minutes. The Schuylkill Expressway (I-76) is located fewer than 3 miles from the Property. location highlights • Desirable Submarket on the Haverford Avenue serves as Narberth’s “Main Street”, and is home to many unique stores Historic Pennsylvania Main Line and restaurants, including several that have been operating continuously for decades. There is a locally owned yoga studio, toy store, grocery store, and an independent book • Walking Distance to Downtown Narberth store. Narberth has several pubs and restaurants downtown, as well as a movie theater with two screens. More modern amenities include an eclectic blend of boutiques, galleries, • Quiet Neighborhood Between salons, spas, and eateries. Lancaster and Montgomery Avenues Narberth is well known throughout the area for its family-friendly events sponsored by the Borough and its many organizations. Events include First Fridays, the Great Leprechaun Hunt, • Walking Distance to Narberth the Easter Egg Hunt, Fourth of July Fireworks, the Narberth Music Festivals, Summer Concerts Train Station in the Park, Witches of Narberth Scavenger Hunt, the Halloween Parade, and the December Dickens Festival. • “Main Street” Area of Town Has Many Shops and Restaurants, Brenton Hall and Hampden Manor are in the Lower Merion School District - A top school and is Host to Popular Festivities district in both the state as well as nationally. BRENTON HALL & hampden manor property description local map

SCHUYLKILL EXPRESSWAY N Villanova University LANCASTER AVENUE

Bryn Mawr College 76

Bryn Mawr Hospital BRENTON HALL 30

Narberth Haverford 476 College 76 Hampden Manor Merion Golf Club Saint Joseph’s U.

Lankenau Hospital Mann 30 Center 476

Ardmore: Suburban Square Wynnewood Shopping Center Bala Cynwyd Shopping Center Target Shopping Center • Trader Joe’s • Besito Mexican • Whole Foods Market • Anthony’s Coal Fired Pizza • Lord & Taylor • Corner Bakery Cafe • Target • Farmer’s Mkt. • Sweetgreen • Bed Bath & Beyond • Sabrina’s Cafe • Michaels • Honeygrow • Chipotle • Ann Taylor • Ruby’s Diner • Old Navy • Elevation Burger • Pet Valu • Qdoba • Starbucks • Apple • Starbucks • Giant Grocery Store • Mad Mex • LA Fitness • Jimmy Johns • TGIFridays • Banana Repub. • Sephora • Millennium Day Spa • Starbucks • Olive Garden • Starbucks • J. Crew • & Much More ... • DSW Shoe Warehouse • & Much More ... • Chili’s Bar & Grill • Saladworks BRENTON HALL & hampden manor property description public transportation map

proximity to train station N The Narberth Train Station is located just one block from Brenton Hall, and one-quarter mile from Hampden Manor. The station is served by SEPTA’s Paoli/Thorndale Line, which runs from Center City Philadelphia out to Thorndale in western Chester County. Hampden Manor Trains run approximately every 1/2 BRENTON HALL hour, and riders can be in Center City in less than 20 minutes.

Narberth Station BRENTON HALL & hampden manor property description regional map

BRENTON HALL & hampden manor

N

Interstate 76 2.6 Miles Philadelphia International Airport 10.5 Miles

Interstate 476 5.1 Miles King of Prussia 10.9 Miles

Center City Philadelphia 7.8 Miles Wilmington, DE 29.6 Miles

Interstate 95 8.5 Miles Trenton, NJ 34.9 Miles BRENTON HALL & hampden manor

RENT COMPARABLES Rent Comparables Map Rent Comparables BRENTON HALL & hampden manor rent comparables A B map average rents

$3,000 BRENTON HALL HAMPDEN MANOR $2,800 $2,600 1 1 $2,400 $2,200 $2,000 $1,800 3 $1,600 $1,400 Montgomery Court $1,200 $1,000 2 $800 $600 B $400 $200 A $0 Subject Property Montgomery Court Narberth Station Narberth Hall The Metropolitan The Wynnewood Narberth Station 2 Wynnewood

3 STUDIO AVERAGE: $1,323 2 BED AVERAGE: $1,915 1 BED AVERAGE: $1,457 3 BED AVERAGE: $2,453 average occupancy 100% Narberth Hall 95% 4 90%

80% 4 5 70%

60%

50%

Metro. Wynnewood 40% 30% 5 20%

10%

0% Montgomery Court Narberth Station Narberth Hall The Metropolitan Wynnewood The Wynnewood BRENTON HALL & hampden manor rent comparables

A SUBJECT PROPERTY: Brenton Hall 115 North Essex Avenue, Narberth, PA 19072 UNIT TYPE # OF UNITS UNIT SIZE CURRENT RENTS RENT/SF Studio/1 Bath Small 1 300 $810 $2.70 Number of Units 26 Studio/1 Bath 12 470 $1,029 $2.19 Year Built 1926 1 Bed/1 Bath Junior 1 470 $850 $1.81 {details 1 Bed/1 Bath 6 490 $1,064 $2.17 1 Bed/1 Bath Large 6 580 $1,241 $2.14 TOTAL/AVG. 26 493

B SUBJECT PROPERTY: Hampden Manor 325 Haverford Avenue, Narberth, PA 19072 UNIT TYPE # OF UNITS UNIT SIZE CURRENT RENTS RENT/SF 1 Bed/1 Bath 6 486 $1,233 $2.54 Number of Units 14 1 Bed/1 Bath Large 6 613 $1,270 $2.07 Year Built 1963 2 Bed/1 Bath Patio 2 1,025 $1,980 $1.93 {details TOTAL/AVG. 14 617

BRENTON & HAMPDEN TOTALS 40 537 $1,170 $2.18

1 Montgomery Court 214 Price Avenue, Narberth, PA 19072 UNIT TYPE # OF UNITS UNIT SIZE CURRENT RENTS RENT/SF

Number of Units 115 Studio/1 Bath 12 430 $1,295 $3.01 Year Built 1938 1 Bed/1 Bath 67 579 $1,345 $2.32 Occupancy 95% 2 Bed/1 Bath 4 990 $2,040 $2.06 {details 3 Bed/1 Bath 32 850 $2,055 $2.42 TOTALS/AVG. 115 653 $1,562 $2.39

property notes: UTILITIES: Rent includes heat, hot water, and cooking gas. AMENITIES: Units are updated and feature fully equipped kitchen with dishwasher and disposal, air conditioning, ceiling fans, and hardwood floors. Community amenities include fitness center, and off-street parking. LAUNDRY: In-unit washer/dryer in select units; Laundry facilities on-site. BRENTON HALL & hampden manor rent comparables

2 Narberth Station 280 Haverford Avenue, Narberth, PA 19072 UNIT TYPE # OF UNITS UNIT SIZE CURRENT RENTS RENT/SF

Number of Units 24 2 Bed/1 Bath 12 985 - 1,140 $2,003 $1.89 Year Built 1929 3 Bed/1 Bath 12 1,222 $2,310 $1.89 Occupancy 96% TOTALS/AVG. 24 1,141 $2,145 $1.89 {details

property notes: UTILITIES: Management charges back for gas for heat and hot water (RUBS). AMENITIES: Units feature updated kitchens, fireplace, and air conditioning, LAUNDRY: In-unit washer/dryer in select units; Laundry facilities on-site. NOTES: Management is transitioning to dynamic pricing.

3 Narberth Hall 300 North Essex Avenue, Narberth, PA 19072 UNIT TYPE # OF UNITS UNIT SIZE CURRENT RENTS RENT/SF

Number of Units 62 Studio/1 Bath 500 $1,350 $2.70 Year Built 1929 1 Bed/1 Bath 585 - 830 $1,561 $2.20 Occupancy 94% 2 Bed/1 Bath 895 $1,907 $2.13 {details TOTALS/AVG. 62 693 $1,606 $2.34 property notes: UTILITIES: Management charges back for gas for heat, hot water, cooking. AMENITIES: Units feature updated eat-in kitchens, hardwood floors, and air conditioning. Community has a fitness center. LAUNDRY: Laundry facilities on-site. NOTES: Management is transitioning to dynamic pricing.

4 The Metropolitan Wynnewood 250 East Wynnewood Road, Wynnewood, PA 19096 UNIT TYPE # OF UNITS UNIT SIZE CURRENT RENTS RENT/SF

Number of Units 142 1 Bed/1 Bath 43 682 $1,515 $2.22 Year Built 1950 2 Bed/1 Bath 99 897 $1,893 $2.11 Occupancy 96% TOTALS/AVG. 142 142 $1,779 $2.14 {details

property notes: UTILITIES: Rent includes water, sewer, and trash. AMENITIES: Units feature renovated kitchens with dishwasher and microwave, semi-private entrance, hardwood flooring, and individually controlled A/C. Community amenities include fitness center, and off-street parking. Detached garages available for an additional monthly fee. LAUNDRY: Washer/dryer in each unit. BRENTON HALL & hampden manor rent comparables

5 The Wynnewood 150 East Wynnewood Road, Wynnewood, PA 19096 UNIT TYPE # OF UNITS UNIT SIZE CURRENT RENTS RENT/SF 1 Bed/1 Bath 136 694 - 857 $1,197 - $1,615 $1.80 Number of Units 227 2 Bed/1 Bath 90 867 - 882 $1,730 $1.96 Year Built/Renovated 1939/2019 3 Bed/3 Bath 1 1,700 $2,995 $1.76 {details TOTALS/AVG. 227 816 $1,528 $1.87

property notes: DETAILS: Built in 1939, but renovated in 2019. AMENITIES: Community amenities include fitness center, outdoor grills and picnic areas, indoor play room and outdoor recreational space for children, and dog park. Units feature bright kitchen with newer appliances, original hardwood floors, and unique architectural features. LAUNDRY: Washer/dryer in select units. Laundry facilities on-site. BRENTON HALL & hampden manor

SALES COMPARABLES Sales Comparables Map Sales Comparables BRENTON HALL & hampden manor sales comparables

A map

BRENTON HALL

B 2

3

HAMPDEN MANOR

1

The Wynnewood

2 A B 1

Strafford Station

3

Radnor Portfolio BRENTON HALL & hampden manor sales comparables

SALES COMPARABLES AVERAGES PRICE # OF UNITS PRICE/UNIT PRICE/SF

1 THE WYNNEWOOD // 150 East Wynnewood Road, Wynnewood, PA $49,250,000 227 $216,960 $194.02

2 STRAFFORD STATION // 432 Strafford Avenue, Wayne, PA $48,250,000 197 $244,924 $278.68

3 RADNOR PORTFOLIO // 505 Lancaster Avenue, Wayne, PA $77,750,000 309 $251,618 $311.00

AVERAGES $237,834 $261.23

1 THE WYNNEWOOD 2 STRAFFORD STATION 3 RADNOR PORTFOLIO 150 East Wynnewood Road 432 Strafford Avenue 505 Lancaster Avenue Wynnewood, PA Wayne, PA Wayne, PA

Sale Price $49,250,000 Sale Price $48,250,000 Sale Price $77,750,000

Sale Date 2/23/2018 Sale Date 1/16/2020

Year Built 1939 Year Built 1963 Year Built 1965

Price per Unit $216,960 Price per Unit $244,924 Price per Unit $251,618

Price per Square Foot $194.02 Price per Square Foot $278.68 Price per Square Foot $311.00

Number of Units 227 Number of Units 197 Number of Units 309 exclusively listed brenton hall Hampden Manor 115 North Essex Avenue 325 Haverford Avenue Narberth, PA 19072 Narberth, PA 19072 26 UNITS 14 UNITS MacLaren • Talone • Townsend& | Multifamily Housing Specialists Clarke Talone Andrew Townsend Ridge MacLaren Dan Bernard First Vice President Investments First Vice President Investments Senior Vice President Investments Senior Associate PHILADELPHIA OFFICE PHILADELPHIA OFFICE PHILADELPHIA OFFICE PHILADELPHIA OFFICE Tel: 215.531.7021 Tel: 215.531.7020 Tel: 215.531.7019 Tel: 215.531.7022 [email protected] [email protected] [email protected] [email protected] License: PA RS299113 License: PA RS304074 License: PA RB-063070-L License: PA RS331381 License: NJ 0787408 License: NJ 0680787 License: PA RM042723B License: DE RS-0019808 License: DE RS-0019885 License: NJ 0673619 License: DE RB-0002461

MacLarenT • Talone • TownsendT MultifamilyM Housing Specialists