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OFFERING MEMORANDUM 8-UNIT MULTIFAMILY OPPORTUNITY IN THE HEART OF MIDTOWN, T A B L E O F C O N T E N T S

Andy Lundsberg PROPERTY INFORMATION 3 Partner, Bull Realty EXECUTIVE SUMMARY 4 [email protected] 404-876-1640 x107 PROPERTY INFORMATION 6 SURVEY 7 Michael Wess, CCIM PHOTOS 8 Partner, Bull Realty RECENT RENOVATIONS 17 [email protected] 404-876-1640 x150 AREA OVERVIEW 18 Bull Realty, Inc. IN THE AREA 19 50 Glenlake Parkway, Suite 600 Atlanta, GA 30328 ABOUT THE AREA 21 BullRealty.com DEMOGRAPHIC OVERVIEW 22 MAJOR EMPLOYERS 23 ATLANTA 24 ATLANTA TOP EMPLOYERS 26

CONTACT INFORMATION 27 BROKER PROFILE 28 CONFIDENTIALITY AGREEMENT 29 DISCLAIMER 30

Exclusively listed by Bull Realty, Inc. 8 - U n i t M u l t i f a m i l y O p p o r t u n i t y i n t h e H e a r t o f M i d t o w n , A t l a n t a | P a g e 2 o f 3 1 P R O P E R T Y I N F O R M AT I O N

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PROPERTY OVERVIEW

This prime multifamily opportunity is located two blocks from near the corner of 10th and Piedmont. This well-located, 8-unit multifamily property consists of (3) studios, (3) 1 BR / 1 BA, (1) 2 BR / 2 BA and (1) 3 BR / 2 BA. Six out of the eight units are located in the main structure and the two remaining are located in the carriage house in rear. Four out of the eight units have been recently renovated and the four remaining have value-add opportunity to increase rents with cosmetic renovations. Select units have large front porches and spacious decks that look out towards the skyline views of Midtown.

In addition from being so close to Piedmont Park, the property is walking distance to several restaurants and shops, Midtown Marta Transit Station, the BeltLine, , Federal Reserve of Atlanta, Midtown Financial District, and the . The area draws tenants from its proximity to the Midtown Financial District, Emory Hospital Midtown, Tech, Google, , SCAD, and Georgia State University. Midtown has steadily remained one of the strongest rental markets in Metro Atlanta. Price | $1,975,000 Units | 8

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PROPERTY HIGHLIGHTS 8-unit multifamily complex in the heart of , GA KEY FIGURES

6 units are located in the main structure and 2 studios are located in a carriage house

(3) Studios, (3) 1 BR / 1 BA, (1) 2 BR / 2 BA and (1) 3 BR / 2 BA

4 out of the 8 units have been recently renovated and the other 4 units have value-add opportunity to increase rents with cosmetic renovations 8-Unit Select units have large front porches and spacious decks and patios Multifamily Opportunity

Includes beautiful skyline views of Midtown

Excellent location in Midtown, Atlanta near all of the city's amenities

Walking distance to Piedmont Park

Close proximity to I-85, I-75, and Atlanta BeltLine Prime location near NEARBY AMENITIES & The Atlanta BeltLine

Strong 100% Occupancy Rate

Available for Sale For $1,975,000

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BUILDING FINANCIAL

Property Address: 887 Myrtle Street NE Atlanta, GA 30309 Occupancy: 100% County: Fulton NOI: $100,569 Year Built: 1910 Cap Rate: 5.1% Total Building Size: ± 5,730 SF Sale Price: $1,975,000 Number of Buildings: 2 Number of Units: 8 (3) Studio Unit Mix: (3) 1 BR /1 BA (1) 2 BR / 2 BA (1) 3 BR / 2 BA

SITE

Site Size: ± 0.18 AC Parcel ID: 14-0049-0003-025 Zoning: R5 (Non-conforming) Parking Spaces: Front driveway and street parking

CONSTRUCTION

Number of Stories: 2 (1 unit) Minisplit HVAC: (5 units) Central systems (2 units) Window units

Washer/Dryer: 2 units have stackable (Large 1 BR & 3 BR unit) 6 units share coin operated laundry room

Metered: All utilities are common & tenants reimburse on pro rata share

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Large Patio- Unit 1

Carriage House- Includes 2 studio units Rear view

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Updated lighting in bedroom Vaulted ceilings with updated fireplace

All brand new stainless steel appliances Spacious, open floor plan with natural lighting Modern bathroom renovations

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New backsplash and stainless steel appliances Stackable washer and dryer

Refinished hardwood floors and updated ceiling fans Vaulted ceilings Modern bathroom renovations

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New painted kitchen

Refinished hardwood floors with fireplace Natural lighting

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Stainless steal appliances Modern bathroom renovations

Refinished hardwood floors and fireplace Updated flooring and backsplash Updated fireplace

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KITCHEN OTHER INTERIOR Stainless steel appliances Vaulted ceilings

Refinished hardwood flooring Open floor plan

Granite countertops Updated fireplaces

New light fixtures

New white backsplash

New/painted cabinets

BATHROOMS New tile flooring

New white tiles

Wainscoting on certain walls

New lighting

Stainless steel appliances

Updated mirrors

New plumbing

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PIEDMONT PARK GEORGIA STATE UNIVERSITY Piedmont Park is a 211-acre park located in With six campuses throughout metro Atlanta, the Midtown. It draws more than 3 million annual university provides its world-class faculty and more visitors who enjoy the park’s many amenities than 53,000 students with unsurpassed connections to the opportunities available in one of the 21st including fitness areas, walking trails, dog parks, century’s great global cities. Georgia State provides farmer’s markets and green spaces. The park also a rich experience with award-winning housing, hosts many annual events and music festivals that hundreds of student clubs and organizations, and bring visitors from all over the country. one of the most diverse student bodies in the country.

MARTA ACCESS GEORGIA TECH The Metropolitan Atlanta Rapid Transit Authority is Georgia Tech provides a technologically-focused the principal public transport operator in the education to more than 25,000 undergraduate and Atlanta metropolitan area. Formed in 1971 as strictly graduate students in fields ranging from a bus system, MARTA operates a network of bus engineering, computing, and sciences, to business, routes linked to a rapid transit system consisting of design, and liberal arts. Georgia Tech has six 48 miles of rail track with 38 train stations. colleges and 28 schools focusing on Business, Computing, Design, Engineering, Liberal Arts, and Sciences.

PONCE CITY MARKET ATLANTA BELTLINE Ponce City Market is a mixed-use development The Atlanta BeltLine is a sustainable located in a historic building in Atlanta, with redevelopment project that provides a network of national and local retail anchors, restaurants, a public parks, multi-use trails and transit along a food hall, boutiques and offices, and residential historic 22-mile railroad corridor circling downtown units. It is located where the BeltLine crosses Ponce and connecting many neighborhoods directly to de Leon Avenue in the Old Fourth Ward where that each other. neighborhood touches the Virginia Highland, Poncey Highland and Midtown neighborhoods.

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MIDTOWN ATLANTA, GA Midtown is marked by its cultural attractions, institutions of higher education, noteworthy architecture, and urban layout. The district is the center of the city’s arts scene that includes the Fox Theatre, , the High Museum of Art, the , the Atlanta Symphony Orchestra, the and the 14th Street Playhouse.

Three well known institutions of higher education also reside in the heart of the city: Georgia Institute of Technology, John Marshall Law School, and the Atlanta division of the Savannah College of Art and Design (SCAD). Midtown contains about one-third of the city’s high-rises and some of Atlanta’s most iconic buildings, such as the Bank of America Plaza, AT&T Midtown Center, Atlantic Center and . * Source: https://www.midtownatl.com/

DEMOGRAPHICS (5-MILE)

P O P U L AT I O N M E D I A N I N C O M E M E D I A N A G E

399,609 $113,299 33.4

WA L K S C O R E M E D. H O M E P R I C E

90 (Walker's Paradise) $397,311

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DEMOGRAPHICS

1 Mile 42,678

3 Miles 193,803

POPULATION 5 Miles 399,609

1 Mile 24,303

3 Miles 95,855

HOUSEHOLDS 5 Miles 186,380

1 Mile $117,618

3 Miles $115,014

AVG. HH INCOME 5 Miles $113,299

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ATLANTA MAJOR EMPLOYERS

# Company Product/Service # Employees 1 Price Waterhouse Cooper (PwC) Assurance, tax, and consulting services 275,000 (Global) 2 Emory Hospital Midtown Hospital 1,200 Emory Clinic and 440 private-practice physicians 3 King and Spalding Law Frim 1,100+ Attorneys (Global) 4 Google Technology 200 (Atlanta Office) 5 Microsoft (Announced) Technology 1,500 (Projected in Atlanta) 6 Coca Cola Consumer Packaged Goods 4,400 (Atlanta Office) 7 Georgia Institute of Technology Education 7,150 (Atlanta Office) 8 Truist Financial Corp. (Formerly Suntrust Bank) Finance/Banking 7,478 (Atlanta Office)

AREA OVERVIEW Midtown’s pedestrian-oriented, amenity-rich community provides a dynamic environment for some of Atlanta’s largest employers and most respected companies. While major corporations call Midtown home, being here provides important advantages for small businesses too.

It’s about access. Access to nationally-leading educational and research institutions. Access to a highly skilled labor market. Access to robust transportation options and infrastructure that make getting here and getting around easy. And the Midtown Alliance, the organization actively committed to building and maintaining a superior quality of life and making Midtown a location of choice. Guided by a visionary master plan and backed by the investment of the Midtown Improvement District, Midtown Alliance has leveraged more than $400 million in public and private funds to enhance the public environment and support Midtown’s continued growth as Atlanta’s premier urban center.

Midtown Atlanta features more than 20 million SF of office space in some of the Southeast's best properties. Over the past 15 years, an astonishing 23 new office buildings have been built. And these buildings not only provide the best of amenities for the district's 65,000+ daytime workers, but they are creating one of the Southeast's most sustainable urban districts, with a growing portfolio of LEED-certified buildings.

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AT L A N TA

#8 BEST CITY IN THE SOUTH -Southern Living, “The South’s Best Cities 2020” Atlanta is an exciting destination with world-class restaurants, a festive nightlife, ATLANTA BRAVES several major league sports teams and an abundance of cultural attractions. Atlanta’s (TRUIST PARK) arts and culture scene is complemented by in-town neighborhoods that give the city even more depth.

Home to the busiest and most efficient airport in the world, Hartsfield-Jackson Atlanta International Airport, and the Maynard H. Jackson International Terminal, getting to Atlanta is easy.

ATLANTA FALCONS (MERCEDES-BENZ STADIUM)

Encompassing $304 billion, the Atlanta metropolitan area is the eighth-largest economy in the country and 17th-largest in the world. Corporate operations comprise a large portion of Atlanta’s economy, with the city serving as the regional, national or global headquarters for many corporations. Atlanta has the country’s third largest concentration of Fortune 500 companies, and the city is the global headquarters of () corporations such as The Coca-Cola Company, The Home Depot, Delta Air Lines, AT&T Mobility, UPS, SunTrust Bank, Mercedes Benz USA, Newell-Rubbermaid and is home to the world renowned Center for Disease Control. Over 75% of Fortune 1000 companies conduct business operations in the Atlanta metropolitan area, and the region hosts offices of about 1,250 multinational corporations. Many corporations are drawn to Atlanta due to the city’s educated workforce; as of 2010, nearly 43% of adults in the city of Atlanta have college degrees, compared to 27% in the nation as a whole and 41% in Boston. ATLANTA UNITED FC (MERCEDES-BENZ STADIUM)

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BUSINESS-FRIENDLY CITY Atlanta, the capital and most populous city in Georgia, is the ninth-largest metro in the United States with over 5.9 million residents. It prides itself on its low business costs, tax-friendly environment, diverse economy and suburb quality of life. Encompassing a GDP over $270 billion, the Atlanta metropolitan area is a true “world city.”

HOME TO FORTUNE 500 COMPANIES #1 Most-Traveled Airport in $270 Billion GDP in Metro- Atlanta has the third-highest concentration of Fortune 500 headquarters in the U.S., and over 75% of the the World Atlanta Fortune 1000 conduct business in the Atlanta Metropolitan Area. The city is the global headquarters of corporations such as The Coca-Cola Company, The Home Depot, Delta Air Lines, AT&T Mobility, UPS and Newell-Rubbermaid.

CONTINUOUS ECONOMIC DEVELOPMENT The city’s continuous growth is expected to continue with recently executed or announced corporate relocations such as UPS, Mercedes-Benz, NCR, Honeywell, and General Electric. Atlanta has also become a mega center for movie production due to tax credits implemented in 2008.

17 Fortune 500 HQ in Top U.S. Metro with #1 Lowest WORLD-CLASS EDUCATION Atlanta Cost of Doing Business Atlanta houses several of the top higher education institutions in the United States including Georgia Institute of Technology, Emory University, Georgia State University and Kennesaw State University. Georgia Tech’s Technology Square is AT TRACTIONS AND TOURISM a R&D incubator for over 100 companies and is “one of the Attractions in Atlanta include the largest aquarium in the western hemisphere, the CNN Center, the Fox incubators changing the world.” - Theater, the King Center and the new $1.5 billion home of the Atlanta Falcons football franchise, Mercedes- Forbes 2010 & 2013 Benz Stadium. Hartsfield-Jackson Atlanta International Airport is the world’s busiest airport, making the city a hub for business and tourism travelers alike.

#4 Metro Area for Largest Increase in Population, 2015-2016 -U.S. Census Bureau Population Division

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TOP EMPLOYERS

EDUCATION MAJOR ATTRACTIONS

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PROFESSIONAL BACKGROUND Andy Lundsberg has over 20 years of sales, marketing and commercial real estate experience. He specializes in the acquisition and disposition of multifamily and boutique retail/office type properties throughout metro-Atlanta. Andy Lundsberg is recognized as the top producer at Bull Realty for the last 7 years in a row with gross sales over $250 million over the last four years, and has consistently achieved the Atlanta Commercial Board of Realtors Million Dollar Club designation year after year. Prior to his career in commercial real estate, Andy worked for a national diagnostic imaging company as director of sales and marketing, Coca Cola as a business development manager and was head of on-site sales and marketing for a condominium project with a large residential real estate firm in Atlanta. With his expertise in the real estate industry and successful sales record, he can help you determine the right investment for you; whether you are looking to buy, lease or sell commercial real estate. Andy graduated with honors from The Kelley School of Business at Indiana University where he received degrees in Marketing, A N D Y L U N D S B E R G Management and International Studies. He also studied and lived in Seville, Spain and is conversational in Spanish. Partner, Bull Realty 404-876-1640 x107 Organizations: [email protected] National Association of Realtors-Georgia Atlanta Commercial Board of Realtors Young Council of Realtors (YCR) Million Dollar Club (2008 - Present)

PROFESSIONAL BACKGROUND Michael Wess’ passion for the consultation and sale of commercial real estate began during his undergraduate studies at the University of Georgia. He earned a 4.0 GPA at the Terry College of Business’s real estate program, consistently ranked in the top five nationally. While there, Michael also received two other degrees in finance and international business and a minor in Spanish while participating on UGA’s rugby team and various philanthropic organizations.

Michael joined Bull Realty in 2016 and began building his brokerage practice based on integrity, superior client service, and exceptional results. In 2018 alone, Michael closed 23 transactions valued at over $25,000,000, which landed him #3 of 32 brokers at the firm. Since 2018, Michael Wess and Andy Lundsberg teamed up and sold over $200 million in over 100 transactions.

M I C H A E L W E S S , C C I M Michael continuously attends seminars, conferences, and classes to improve his knowledge of real estate, finance, and economics. He is a pinned designee of the prestigious Certified Commercial Investment Member (CCIM) Institute, commercial Partner, Bull Realty real estate’s global standard for professional achievement and is an active member of the Atlanta Commercial Board of 404-876-1640 x150 Realtors (ACBR). [email protected] Michael is also a ‘big brother’ in the Big Brothers Big Sisters organization. He enjoys spending time with family and friends exploring the neighborhoods in and around Atlanta.

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This Confidenality Agreement (“Agreement”) is made and agreed to for the benefit of the undersigned II. Acng as a Principal: party (“Receiving Party”), the owner of the subject property (the “Seller”) and undersigned broker Bull Receiving Party hereby warrants that it is acng as a principal only, and not as a broker, regarding this Realty Incorporated (“Broker”). Now therefore in consideraon of the privileges granted to Receiving Party contemplated transacon. Receiving Party acknowledges that Broker is working an agency capacity as with respect to receiving certain confidenal informaon, and other good and valuable consideraon, the represenng the Seller only in this transacon and is the only Broker involved in this potenal transacon. Receiving Party hereby agrees to the following: Receiving Party agrees to not be involved in any arrangement to lease or purchase the property, in whole or in part, as a lender, partner, buyer of the note, buy in foreclosure, buy from bankruptcy court, or in any I. Confidenal Informaon: other manner acquire an investment in, joint venture or control of the property, unless Bull Realty, Receiving Party will receive confidenal informaon regarding property referred to as 887 Myrtle Street NE Incorporated is paid a commission at closing as per separate agreement with Seller. Atlanta, GA 30309. Prospect agrees to not disclose to any person that the property may be available for sale or lease, or that discussions or negoaons are taking place concerning the property, nor any terms, This agreement will expire two years from the date hereof. condions, or other facts with respect to the property, including but not limited to tenant informaon, lease rates, lease expiraons, income and expenses, and any such possible purchase, including the status thereof. III. Governing Law The term “person” used in this agreement shall be interpreted broadly and shall include, without limitaon, This Agreement shall be governed and construed in accordance with the laws of the State of Georgia. any corporaon, company, partnership or individual other than pares to which Broker approves in wring. Receiving Party may share informaon with directors, officers, employees, agents, affiliates, counsel, If you are a broker, or a principal desiring to include an outside broker, contact the lisng agent directly for a lending sources, accountants or representaves of Receiving Party that Receiving Party nofies of the Buyer and Buyer’s Broker Confidenality & Commission Agreement. requirements of this Agreement. Receiving Party agrees to not contact the property owner, the management, the tenants, the lender, the vendors, the insurers, the employees or the customers of any business at the site.

Accepted and agreed to __ / __ / __ Bull Realty, Inc. 50 Glenlake Parkway, Suite 600 SIGN CONFIDENTIALITY Receiving Party Atlanta, GA 30328 AGREEMENT ONLINE Andy Lundsberg Signature 404-876-1640 x107 [email protected] Printed Name Michael Wess, CCIM Title 404-876-1640 x150 [email protected] Company Name

Address

Email

Phone

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Bull Realty has been retained as the exclusive listing broker to arrange the sale of the Subject Property.

This Offering Memorandum contains selected information pertaining to the Property but does not purport to be all-inclusive or to contain all of the information that a prospective purchaser may require. All financial projections are provided for general reference purposes only and are based upon assumptions relating to the general economy, competition and other factors, which therefore, are subject to material change or variation. Prospective purchasers may not rely upon the financial projections, as they are illustrative only. An opportunity to inspect the Property will be made available to qualified prospective purchasers.

In this Offering Memorandum, certain documents, including financial information, are described in summary form and do not purport to be complete or accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected to review independently all documents.

This Offering Memorandum is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement, suitability or advice as to the value of the Property by Bull Realty Inc. or the current Owner/Seller. Each prospective purchaser is to rely upon its own investigation, evaluation and judgment as to the advisability of purchasing the Property described herein.

Owner/Seller expressly reserve the right, at its sole discretion, to reject any or all expressions of interest or offers and/or to terminate discussions with any party at any time with or without notice. Owner/Seller shall have no legal commitment or obligation to any purchaser reviewing this Offering Memorandum or making an offer on the Property unless a written agreement for the purchase of the Property has been fully executed, delivered and approved by the Owner/Seller and any conditions to the purchaser's obligations therein have been satisfied or waived. The Owner/Seller reserves the right to move forward with an acceptable offer prior to the call for offers deadline.

This Offering Memorandum may be used only by parties approved by the Broker. The Property is privately offered, and by accepting this Offering Memorandum, the party in possession hereof agrees (i) to return it if requested and (ii) that this Offering Memorandum and its contents are of a confidential nature and will be held and treated in the strictest confidence. No portion of this Offering Memorandum may be copied or otherwise reproduced or disclosed to anyone without the prior written authorization of Bull Realty, Inc. The terms and conditions set forth above apply to this Offering Memorandum in its entirety and all documents and other information provided in connection therewith.

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ANDY LUNDSBERG MICHAEL WESS, CCIM Partner, Bull Realty Partner, Bull Realty [email protected] [email protected] 404-876-1640 x107 404-876-1640 x150

Please do not visit site without an appointment. Please do not disturb management or tenants.

Information contained herein may have been provided by the seller, landlord or other outside sources. While deemed reliable, it may be estimated, projected, limited in scope and is subject to change or inaccuracies. Pertinent information should be independently confirmed prior to lease or purchase offer or within an applicable due diligence period.