EXCLUSIVE INVESTMENT OFFERING DECATUR RENTS Decatur Rents Apartments APARTMENTS 36 Units | Las Vegas, NV Vegas Sauter Multifamily Advisors

Member of the NAI Global Worldwide Commercial Real Estate Network Decatur Rents 321 N Decatur Blvd Las Vegas, NV 89107 table of CONTENTS

04 11 The Opportunity Financial Analysis

05 15 Property Details Location Details

09 The Location

Multifamily Investment Advisors

Patrick Sauter Steve Nosrat T +1 702 534 1700 T +1 310 421 8483 Vegas [email protected] [email protected] Sauter Multifamily Advisors LIC#B.0045077 LIC#S.0176849 the OPPORTUNITY

DECATUR RENTS

NAI Vegas, as exclusive advisor, is pleased to present Decatur Rents (the “Property”), a 36-unit multi-housing investment opportunity. Located at 321 N Decatur Blvd., the property offers two floorplans that feature updated interiors with the opportunity for new ownership to capitalize on units that are below market rents. details 05PROPERTY

DECATUR RENTS APARTMENTS PROPERTY DETAILS

THE OFFERING

ADDRESS YEAR BUILT # OF UNITS LAND SIZE NET AVG UNIT AVERAGE PHYSICAL 321 N Decatur Blvd 1961 36 ±1.49 AC RENTABLE SF SIZE MARKET RENT OCCUPANCY 29,025 806 SF $856 95%

DECATUR RENTS Vegas APARTMENTS Sauter Multifamily Advisors BUILDING & SITE DESCRIPTION

ITEM DESCRIPTION

Property Address 321 N Decatur Blvd, Las Vegas 89107

1398-25-812-207 through 214 Parcel Numbers & 162-15-103-003

Year Completed 1961

# of Buildings 9

# of Apartment Homes 36

Net Rentable Square Footage 29,025 SF

Total Land Area 1.49 AC

Building Style Garden

# of Floors 2

Exterior Materials Stucco

Windows Aluminum

Framing Wood

Roof Construction Repaved 2019

Roof Age N/A

Foundation Concrete Slabs

DECATUR RENTS Vegas APARTMENTS Sauter Multifamily Advisors KITCHEN SPECIFICATIONS MECHANICAL |ELECTRICAL PLUMBING ITEM DESCRIPTION ITEM DESCRIPTION

Range Electric Heating Individual - Electric

Dishwasher Not Available Air Conditioning Individual - Electric

Cabinet Materials Wood Water Heater Individual - Electric

Countertop Materials Refinished Laminate Electrical Copper Wire

Flooring Materials Carpet/Vinyl Plumbing Supply Copper

Disposal Not Available Plumbing Outlet ABS

Refrigerator Top Freezer Water Meter Master Metered

Washer/Dryer Laundry Facility Fire Extinguishers Wall Mounted - Common Areas

UTILITIES

UTILITIES/SERVICE PROVIDER PROPERTY PAYS RESIDENTS REIMBURSE PROPERTY RESIDENTS PAY DIRECTLY COMMENTS

Electricity NV Energy X

Gas No Gas On Property

Water/Sewer Water District X X RUBS

Cable Cox X

Telephone Century Link X

Trash Republic Services X X RUBS

DECATUR RENTS Vegas APARTMENTS Sauter Multifamily Advisors the 09LOCATION

DECATUR RENTS APARTMENTS LOCATION HIGHLIGHTS

Hoover Manor provides an investor the rare opportunity to purchase an asset in a core location, readily accessible to major highways, connecting the property to all of the nearby amenities and attractions of the surrounding area.

11

10 13 2 HOOVER 3 MANOR Points of Interest 9 1. McCarran Airport - 8 miles 2. -1 miles 3. - 1 miles 09 6 4. - 3.5 miles 5. Raiders Stadium - 8.5 miles 6. - 1.5 miles 7. UNLV - 8 miles 8. Knights Hockey Arena - 7.5 miles 12 4 9. Cashman Baseball Stadium - 2 miles 10. Mountain View Hospital - 3 miles 11. - 4 miles 12. Ed Fountain Park - 0.5 miles 7 8 13. North Las Vegas Airport - 2 miles

1 5 DECATUR RENTS Vegas APARTMENTS Sauter Multifamily Advisors financial 11ANALYSIS

DECATUR RENTS APARTMENTS UNIT MIX

UNIT TYPE # OF UNITS UNIT SIZE MARKET RENT PER SF

2x2 A 27 800 SF $850 $1.06

2x2 B 9 825 SF $875 $1.06

TOTAL/AVG 36 806 SF $856 $1.06

FINANCIAL ANALYSIS

Operating Income Year 1 ProForma Per Unit

Market Rent $369,900 $6,165

Vacancy Loss $(18,495) $(574)

Concessions $0 $0

Bad Debt/Other $(7,398) $(123)

Net Rental Income $344,007 $5,733

RUBS $8,338 $139

Other Income $35,044 $584

Effective Gross Income (EGI) $387,388 $723

Forecasted Expenses Per Unit

Payroll $41,400 $1,150

Administration $4,500 $125

Repairs & Maintenance $20,400 $650

Utilities $31,673 $528

Insurance $6,660 $185

Property Tax (Actual) $19,226 $320

Total Expenses $126,859 $3,524

Net Operating Income $260,530 $7,237 NOTES TO FINANCIAL UNDERWRITING

Assumptions for the proforma are based on the Property’s characteristics, as well as market-driven revenue and expense trends.

PRO FORMA

• Gross Potential Income is generated using the current Market Rent schedule • Economic Vacancy is currently 8%, Pro Forma is 7% • RUBS is estimated at 3% increase over actual income • Other income is estimated at $584 per unit per annually

FORECASTED EXPENSES

• Payroll is forecasted at the equivalent of $1,150 per unit per year reflecting market expense for staffing requirements of a manger, leasing agents, maintenance supervisor, maintenance techs and porters • Administration is forecasted at $125 per unit per year reflecting market averages for similar properties • Repairs & Maintenance expenses are forecasted at $650 per unit per year, consistent with market averages for similar age and construction quality • Utilities are forecasted to be the actual utility amount with a 3% increase • Property Tax are calculated on the next fiscal years maximum increase amount of 8% • Property Insurance is forecasted to be $185 per unit per year

DECATUR RENTS Vegas APARTMENTS Sauter Multifamily Advisors DECATUR RENTS Vegas APARTMENTS Sauter Multifamily Advisors las vegas 15DEMOGRAPHICS

DECATUR RENTS APARTMENTS LAS VEGAS MSA DEMOGRAPHICS

TOTAL MEDIAN AVERAGE HOME POPULATION TOTAL BUSINESSES EMPLOYEES MEDIAN AGE HOUSEHOLD VALUE 2,007,885 64,678 888,036 36.5 INCOME $293,320 $55,011 las vegas PROJECTS

GOOGLE DATA CENTER MARRIOTT, THE DREW

• Henderson is slated to be home to a new Google data center • 4000+ Mega Resort TOTAL MEDIAN AVERAGE HOME in December 2020. • Marriott, the American multinational hospitality company, is now POPULATION TOTAL BUSINESSES EMPLOYEES MEDIAN AGE HOUSEHOLD VALUE INCOME • The Governor’s Office of Economic Development approved opening a new resort and in Las Vegas, set for 2020. 2,007,885 64,678 888,036 $293,320 36.5 $25.2 million in tax abatements Thursday for Design LLC, a • Known as The Drew Las Vegas, the unfinished resort by the former $55,011 wholly-owned subsidiary of Google. The company plans to name Fontainebleau, started with constructions in 2007, will now be build the data center on 64 acres of land on Warm Springs turned into a complex combined like hotel and casino and may Road west of Boulder Highway. The subsidiary plans to build have a walkway to the adjacent luxury high rises. and own the facility, while Google would handle operations • The mega hotel will house 4,000 guest rooms, as well as 500,000 and hiring. sq feet of a space for events, convention center, and meetings. • Google projects that it would bring in more than $94.3 million Currently, Marriott manages about 20 in the Las Vegas area in tax revenue to over the next 20 years, and hire 50 under their brands, however, as Tony Capuano– the global chief employees within the next five years at an average salary of development officer for Marriott said: “The Drew Las Vegas will $65,000. The company expects to invest at least $600 million become a landmark property for .” over the next 20 years.

RAIDERS STADIUM RENDERING

NFL RAIDERS STADIUM

• $1.8 Billion • Las Vegas will proudly welcome the Raiders in the National Football League (NFL) Stadium which is under construction now and expected to open in 2020. The future 65,000 seat home of the Oakland Raiders is under steady progress and is expected to be the host of some huge major events which will make Las Vegas the sought after entertainment destination. There is no doubt that the relocation of the Oakland Raiders to Las Vegas and the opening of the new Las Vegas Stadium will be an enormous success for Las Vegas. UNION VILLAGE

• In what’s dubbed the first integrated health care village in the world and largest health care project in the nation at $1.2 billion, Union Village in Henderson is starting to take shape. • Union Village is a 130-acre integrated health village located in Henderson, NV (Las Vegas, MSA). Union Village includes Henderson Hospital, multi-family and generational housing, medical office, gym, restaurants and retail. • Approximately 355,000 square feet have been completed and $300 million in work is done. There are 476,000 square feet under construction worth $64 million and another $277 million that will be under construction by the end of the year.

UNION VILLAGE RENDERING

MADISON SQUARE GARDEN RENDERING

MADISON SQUARE GARDEN LAS VEGAS

• $75 Million • The concert experiences happening in Las Vegas will be soon taken to another level with the development of a futuristic Madison Square Garden music arena expected to open its doors in 2020. Developed in partnership with Las Vegas Sands, the new arena is planned to have 18,000 seats and is expected to become a massive, high-tech, sphere-shaped venue will describe a new form of entertainment and will definitely bring unforgettably, revolutionized experiences for both performers and the audience. LAS VEGAS CONVENTION CENTER EXPANSION

• The Las Vegas Convention and Visitors Authority is underway on a 1.8 million SF expansion of the LVCC. • It will include a World Trade Center building and multi-modal transportation center. • The 1.4 billion project will be completed in 3 phases in 8 years. • It will provide 14,000 construction jobs and 7,800 permanent jobs upon completion. • It is expected to draw 600,000 annual visitors. • Currently Phase 1 is complete, Phase 2 is underway which includes 1.4 million SF of new exhibit and meeting space, to be completed in 2020.

LVCC EXPANSION RENDERING

RESORTS WORLD RENDERING RESORTS WORLD

• Developed by Genting Group, an asian themed resort with a 150,000 SF casino on 87 acres of land. • $4 Billion mega-resort will include 4 towers with 3,000 hotel rooms, 4,000 seat theater, 1M SF convention center, 150,000 SF casino, 15 retail outlets, aquarium, Chinese garden, 30 restaurants and bars. • Will employ 3,000 full time employees. • Expected to open late 2020.

ALL NET RESORT AND ARENA

• Former UNLV and NBA basketball player, Jackie Robinson resumed construction on $2.7 billion arena, hotel, and shopping project on the former 27 AC Wet 'n' Wild site. • 23,000 seat, retractable roof arena is costing $670 million • Total project size is 862,000 SF and will also include a 63 story, 2,000 room hotel, 240,000 SF conference center, 300,000 SF retail and entertainment space, 24 lane bowling alley, 2,500 seat showroom, wedding chapel, grocery store, 16 screen movie theater, and offices. • All expected to be complete by 2020. VEGAS TRADE VILLAGE

• $100 Million live-work space in the industrial area of Las Vegas • Phase 1 includes a 4,800 SF bank and convenience store with a car wash and fast food eatery and is scheduled to complete in 2018. • Remaining phases could take up to 7 years to complete and includes an international trade center over 35 acres with a 20,000 SF convention center, a 264 unit apartment building, 4 restaurants, and a 120 room hotel.

VEGAS TRADE VILLAGE

CIRCA HOTEL & CASINO

Circa Hotel & Casino

• 777 room property • First ground up hotel Downtown in decades • Doors to open Fall of 2020 • 44 stories expected to complete 1.25 Million SF

Downtown Grand Expansion AMAZON FULFILLMENT • 495 room hotel tower to the existing 629 rooms • Start of construction is January 14, 2018 • Expanding hospitatlity space by over 250,000 SF • Contemporary architecture and modern suites

AMAZON

• 800,000 SF fulfillment facility located in a new industrial complex a few miles from the Las Vegas Motor Speedway. • The new warehouse is expected to pack and ship small items such as book, toys, and household items. • This will be Amazon's 3rd facility in North Las Vegas and will provide more than 1,000 full time jobs • Expected to open late 2019. the Vegas Sauter Multifamily Advisors DISCLAIMER TERMS & CONDITIONS This package is provided to you by NAI Vegas and is intended solely for your limited use and benefit in determining whether you desire to express further interest in purchasing the property described in the attached documentation (the “Property”). The providing of this package to you and your use thereof is conditioned upon your agreement to the terms set forth below.

This package contains selected information pertaining to the Property. It does not purport to be a representation of the state of affairs of the current owner, nor should it be construed to contain all or part of the information which prospective investors would deem necessary to evaluate the Property for purchase. Any financial projections and information provided are for general reference purposes only, are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the current owner and NAI Vegas. All projections, assumptions and other information provided are made herein are subject to material variation. NAI Vegas has not independently investigated the accuracy of the information within the package, as such information was obtained by the owner and/or public records. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers.

Neither the owner, NAI Vegas, nor any of their respective directors, officers, agents, affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of the information contained within this package or any supplemental information provided after the delivery of this package to you, and no legal commitment or obligation shall arise by reason of your receipt of this package or use of its contents. Please also refer to the disclaimer at the bottom of each page of this package, whichdisclaimer is incorporated herein by reference.

You should understand and be advised that the owner of the Property expressly reserves the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with you or any other party at any time with or without notice which may arise as a result of this package. The owner shall have no legal commitment or obligation to you or any other party reviewing this package, nor shall the owner be required to accept an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligation therein have been satisfied or waived.

By receipt of this brochure, you agree that this brochure and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this brochure or any of its contents to any other entity without the prior written authorization of owner or NAI Vegas. You also agree that you will not use this brochure or any of its contents in any manner detrimental to the interest of the owner or NAI Vegas.

This package describes certain documents including leases and other materials, which documents are described in summary form only. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected and advised to review all such summaries and other documents of whatever nature independently with legal counsel, tax and other professionals of their choice who have the expertise to assist in investigating this information in detail. You are therefore advised not to rely solely on this Memorandum as part of your investigations on this Property. If you have no interest in further pursuing this Property, please return this package to NAI Vegas. Company Overview Office Locations National Reach, Local Expertise.

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