1643 Amanda Avenue

™ ™ AMANDA GARDENS APARTMENTS SAN ANTONIO, TX 78210 Offering Memorandum SAN ANTONIO, TX | 1 LISTED BY: JOSUE POSADA CRAIG IRVIN DAVID HARRINGTON Associate Associate EVP & National Director Multifamily Multifamily Multifamily [email protected] [email protected] [email protected] dir: (512) 361-1048 dir: (512) 817-4975 dir: (310)-295-1170 mob: (832) 277-4810 mob: (832) 797-8440 mob: (310)-497-5590 Lic #: 710235 (TX) Lic #: 678230 (TX) Lic #: 01320460 (CA) 2 | 1643 AMANDA AVE Offering Memorandum AMANDA GARDENS APARTMENTS SAN ANTONIO, TX 78210 TABLE OF CONTENTS 04 06 07 Property Financial Area Overviews Overview Overview SAN ANTONIO, TX | 3 AMANDA GARDENS APARTMENTS PROPERTY OVERVIEW 4 | 1643 AMANDA AVE AMANDA GARDENS APARTMENTS 1643 Amanda Ave | San Antonio, TX 78210 • Amanda Gardens Apartments is a quiet little community nestled near the corner of Roland and Rigsby in Southeast San Antonio. We are located near downtown about 2 miles from the Roland Exit on IH 10 East. • Close to PF Stewart Elementary School, Rogers Middle School and Highlands High School. • Conveniently located close to McCreeless Corner Shopping Center, HEB, many restaurants and local businesses. • Our location offers quick access to Brooks City Base, SAMC, the AT&T Center and the downtown area. We are walking distance to the South Side Lions Park. Amanda Gardens has great access to San Antonio’s major highways with its location in the Sunny Slope neighborhood right off interstate 10. One of San Antonio’s largest parks is also just 1.5 miles away. The South Side Lions Park consists of 600 acres with a community center, stocked lake filled with trout, a seasonal pool, sports fields & a variety of trails. Schools nearby include Stewart Elementary, Rogers Middle School & Highlands High School. Conveniently located close to McCreeless Corner Shopping Center, HEB, many restaurants and local businesses. Amanda Gardens location offers quick access to Brooks City Base, SAMC, the AT&T Center and the downtown area. SAN ANTONIO, TX | 5 AMANDA GARDENS APARTMENTS FINANCIAL OVERVIEW 6 | 1643 AMANDA AVE Investment Summary 1643 Amanda Ave Property Address: San Antonio, TX 78210 List Price: Contact Broker for Details Number of Units: 12 Year Built: 2004 Gross Sq. Ft.: 11,312 Amanda Street Average S.F. Per Unit: 943 Lot Size (Acres): 0.86 Density: 14 UNIT MIX Current Current Market Market Rent Market Total Units Unit Mix Unit Mix % Avg. S.F Avg. Rent P.S.F. Avg Rent Monthly Rent Rent P.S.F Monthly Rent 8 3+1 67% 775 $1.16 $901 $7,210 $950 $1.23 $7,600 4 4+1 33% 950 $1.50 $1,426 $5,702 $1,500 $1.58 $6,000 Scheduled Monthly Rent: $12,912 $13,600 Scheduled Yearly Rent: $154,944 $163,200 SAN ANTONIO, TX | 7 ANNUALIZED OPERATING SUMMARY Current Pro Forma Market Scheduled Gross Income: $154,944 $154,944 Current $163,200 5% Upside Less Vacancy Reserve: $12,396 8.0% $12,396 8.0% $13,056 8.0% Laundry Income: $0 $0 $0 RUBS Income: $7,680 $7,680 $7,680 Other Income: $0 $0 $0 Gross Operating Income: $150,228 $150,228 $157,824 Expenses: $70,886 45.7% $79,192 51.11% $79,933 48.98% * Net Operating Income: $79,342 $71,037 $77,891 Loan Payments: $56,842 $56,842 $56,842 Pre-Tax Cash Flow: $22,500 3.7% $14,194 2.36% $21,049 3.50% ** Plus Principal Reduction: $27,517 $27,517 $27,517 Total Return Before Taxes: $50,017 8.32% $41,712 6.94% $48,566 8.08% ** * As a percent of Scheduled Gross Income ** As a percent of Down Payment 8 | 1643 AMANDA AVE PRO FORMA ANNUAL OPERATING SUMMARY % of SGI Current Per Unit * Pro Forma Per Unit Market Per Unit % of SGI Property Taxes 2.776% x Sale Price 14.31% $21,495 $1,791 $21,495 $1,791 $21,495 $1,791 16.3% Off-Site Management 8.0% x GOI 2.92% $4,392 $366 $12,018 $1,002 $12,626 $1,052 7.7% Insurance $0.30 x GSF 3.59% $5,388 $449 $5,388 $449 $5,388 $449 3.3% Reserves $250 x Units 2.80% $4,200 $350 $3,000 $250 $3,000 $250 1.8% On-Site Management $0 x Units 2.31% $3,467 $289 $0 $0 $0 $0 0.0% Repairs & Maintenance $350 x Units 2.88% $4,333 $361 $4,200 $350 $4,333 $361 2.7% Turnover $200 x Units 0.00% $0 $0 $2,400 $200 $2,400 $200 1.5% Landscaping $100 x Units 2.16% $3,240 $270 $1,200 $100 $1,200 $100 0.7% Pest Control $25 x Units 0.22% $336 $28 $300 $25 $300 $25 0.2% Utilities** $1,000 x Units 13.05% $19,608 $1,634 $19,608 $1,634 $19,608 $1,634 12.0% Trash $100 x Units 1.75% $2,628 $219 $2,628 $219 $2,628 $219 1.6% Marketing 47.19% $70,886 $5,907 $79,192 $6,599 $79,933 $6,661 49.0% Total Expenses 52.41% $70,746 $3,537 $74,664 $3,733 $72,100 $3,605 43.2% *Estimates unless otherwise stated **All units are all bills paid Current Per Unit % of SGI Non-controllable expenses: Taxes, Ins., Reserves: $31,083 $2,590 20.1% Total Expense without Taxes $49,392 $4,116 31.88% SAN ANTONIO, TX | 9 RENT ROLL Unit Mix Rent Market Rent 101 3+1 $1,220 $895 102 3+1 $795 $895 201 3+1 $865 $895 202 3+1 $895 $895 301 3+1 $865 $895 302 3+1 $860 $895 401 3+1 $885 $895 402 3+1 $825 $975 501 4+1 $1,538 $975 502 4+1 $995 $975 601 4+1 $1,543 $975 602 4+1 $1,626 $975 Totals $12,912 $11,140 12 Averages $1,076 $1,714 10 | 1643 AMANDA AVE SAN ANTONIO, TX | 11 AREA OVERVIEW SAN ANTONIO, TEXAS San Antonio is now the seventh (7th) largest city in the United States, second largest in the State of Texas, and boasts one of the fastest growing metropolitan areas in the country. • The city added 31,200 new jobs over the last year • Expanded employment by 3.0%, which is 3rd among the Top 50 Metros in America. • San Antonio ranked 8th as Forbes’ “America’s Cities of the Future” this year. • San Antonio titled “America’s Friendliest City,” by Travel + Leisure Magazine • San Antonio ranked 2nd in the largest increase in millennials from 2010 to 2015 from a study from Bookings Institution. 12 | 1643 AMANDA AVE LIVING IN SAN ANTONIO San Antonio is not shy to start-ups, especially in recent years. With concentrated efforts on the tech district, the city adopted a new nickname “Silicon San Antonio” due to the city’s embrace of the tech industry. Last year, large streaming service Hulu opened a viewer experience center in Alamo City. TaskUs, Google Fiber, and CaptureRX are opening local offices in San Antonio. Additionally, just up I-35, exciting new relocations are taking place, such as Amazon’s fulfillment center and Urban Mining Company. Thanks to this, the city’s rapid growth is matched with new career opportunities and more to come in the future. A city rich in tradition and history meets a unique culture that welcomes growth and success. As the 7th largest metropolitan city in the U.S, and still growing, San Antonio is no stranger to new possibilities. Placed perfectly in the heart of the Texas Hill Country straddling South Texas and Central Texas, San Antonio is in the center of a booming corridor with many business-friendly elements. San Antonio’s historically steady population growth has established a local market of 2.3 million residents, one that is projected to increase by 28% in the coming future. Moreover, there is an increasing population of young professionals flocking to central San Antonio, enticed by areas such as Pearl Brewery, Alamo Heights, and downtown, which offer an urban lifestyle with endless shopping, nightlife, culture, fine dining, and employment opportunities. With core values such as safety, integrity, and service, it’s no surprise that San Antonio was ranked #1 in America’s Friendliest Cities by Travel + Leisure. Other notable mentions include National Geographic Traveler’s one of the “Best of the World” destination for 2018, #3 in the 5 most underrated cities in the U.S. by Conde Nast Traveler, and within the top 20 of the Milken Institute’s annual list of best-performing cities. While San Antonio is crowned as one of the largest American cities, it still remains affordable in regard to the cost of living compared to other cities among its rank. SAN ANTONIO, TX | 13 High View Apartments Rosemont At Nopal Mexican Highland Park Amigos Snacks And More Carlos Tire Shop Vance Recycling Jesmas Mexican Foods Roland Road Rigsby Avenue Amanda Street Smokehouse 14 | 1643 AMANDA AVE William Sinkin Stewart Elementary Apartments School Ruben’s Homemade Tamales NITE OWLZ BAR Roland Road Smokehouse Amanda Street Rigsby Avenue SAN ANTONIO, TX | 15 SUBMARKET/NEIGHBORHOOD The Eastside neighborhood of San Antonio is bordered by I-37 to the West, I-10 to the South, Loop 410 to the East and I-35 to the North. Amanda Gardens is located just South of I-10. Within the Eastside of San Antonio lies the Alamodome, AT&T Center & and St Phillips College. The Alamodome is located just east of downtown in the Denver Heights neighborhood and is home to the UTSA Roadrunners and the newly formed San Antonio Commanders football teams, as well as playing host to many other sporting events including NCAA Alamo Bowl and Final Four Basketball tournament.

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