2300 Park Street

20 MONTROSE AREA APARTMENTS

KET Enterprises Incorporated I 4295 San Felipe, Suite 355 I , TX 77027 I 713.355.4646 I www.ketent.com

2300 Park Street ● 2300 Park Street ● Houston, TX Park77019 Street apartment2300 homes 2300 Park Street, Houston, TX 77019 Asking Price Market Price Per Unit N/A Units: 20 Price Per Sq. Ft. N/A Avg Size: 627 Stabilized NOI $153,130 Date Built: 1966 Rentable Sq. Ft.: 12,533 Acreage: 0.37 Occupancy: 90% Class: B+

INVESTMENT HIGHLIGHTS

► Available on All Cash or New Loan Basis ► Excellent Location in the Inner Loop/Montrose Area of Houston ► High Occupancy in a Strong Market! ► Great Opportunity for the Smaller Investor ► Great Area Job Base! ► Well Maintained, Upscale Condition ► Excellent Land Play Opportunity ► Easy Access to the University of St. Thomas ► and Major Employment Centers ► Strong Area Demographics

FOR MORE INFORMATION PLEASE CONTACT: TOM WILKINSON MARK KALIL KET ENTERPRISES INCORPORATED MARK KALIL & ASSOCIATES, INC. Broker/Vice President Broker/Owner [email protected] [email protected] 713-355-4646 713-799-8700

4205 San Felipe I Suite 355 I Houston, Tx 77027 2001 Holcombe Blvd I Suite 105 I Houston, Tx 77030 www.ketent.com www.markkalil.com Broker License #0406902 Broker License #0457578 2300 Park Street ● 2300 Park Street ● Houston, TX 77019

Physical Information Financial Information Proposed Loan Parameters Operating Information Number of Units 20 Asking Price Market Estimated New Loan $2,218,040 Est Mkt Rent (Dec-18) $24,025 Avg Unit Size 627 Price Per Unit N/A Amortization 360 12 Month Average $24,588 Net Rentable Area 12,533 Price Per Sq. Ft. N/A Debt Service $99,812 Physical Occ (Jan-19) 90% Land Area (Acres) 0.37 Stabilized NOI $153,130 Interest Only $8,318 Est Ins per Unit per Yr $400 Units per Acre 54.792 Stabilized Value Capped @ 6.% $2,552,159 Interest Rate 4.50% Property Tax Information Date Built 1966 Est Rehab/Upgrade @ $1,000/unit $20,000 Date Due 10 years 2018 Tax Rate/$100 2.53044 Water Meter / Master RUBS Est. Entrepreneurial Profit $0 Est Res for Repl/Unit/Yr $250 2018 Assessment $2,404,500 Elec Meter Indiv Est. Carry to Stabilization $0 Yield Maintenance Yes 2017 Taxes $60,845 Roof Style Flat Calculation of Value $2,532,159 Est Future Tax Assessment $2,404,500 Heating & Cooling HVAC *Current Value is Stabilized Value less Rehab, Profit and Carry Est Future Taxes $60,845

INCOME MODIFIED ACTUALS PRO-FORMA PRO-FORMA INCOME Current Street Rent with a 8% Increase 311,364 $25,947 / Mo Estimated Gross Scheduled Income 311,364 $25,947 / Mo Estimated Loss to Lease (1% of Total Street Rent) (3,114) 1% Estimated Vacancy (5% of Total Street Rent) (15,568) 5% Estimated Concessions and Other Rental Losses (2% of Total Street Rent) (6,227) 2% Estimated Utilities Income 5,309 $265 / Unit / Yr Estimated Other Income 7,436 $372 / Unit / Yr Estimated Total Rental Income 299,199 ESTIMATED TOTAL PRO-FORMA INCOME 299,199 $24,933 / Mo

December 2018 YTD Income $295,058 EXPENSE December 2018 YTD Expenses Future Expenses Fixed Expenses Estimated Fixed Expenses Estimated Fixed Expenses Taxes $60,844 $3,042 per Unit 12/18 operating statement $60,845 $3,042 per Unit 2018 Tax Rate & Est Future Assessment Insurance $8,000 $400 per Unit Estimated $8,000 $400 per Unit Estimated Total Fixed Expense 68,844 $3,442 per Unit 68,845 $3,442 per Unit Utilities Utilities Utilities Electricity $1,481 $74 per Unit $1,481 $74 per Unit Water & Sewer $6,572 $329 per Unit $6,572 $329 per Unit Trash $4,841 $242 per Unit $4,841 $242 per Unit Gas $1,957 $98 per Unit $1,957 $98 per Unit

Total Utilities 14,852 $743 per Unit 14,852 $743 per Unit

Other Expenses Other Expenses Other Expenses General & Admin & Marketing $7,972 $399 per Unit $7,972 $399 per Unit Repairs & Maintenance $25,096 $1,255 per Unit roof work removed ($1658) $25,096 $1,255 per Unit Labor Costs $0 $ per Unit Included in R&M $0 $ per Unit Contract Services $1,701 $85 per Unit $1,701 $85 per Unit Management Fees $23,605 8.00% $1,180 per Unit $23,605 7.89% $1,180 per Unit Total Other Expense 58,374 $2,919 per Unit 58,374 $2,919 per Unit

Total Operating Expense 142,070 $7,103 per Unit 142,070 $7,103 per Unit Reserve for Replacement 4,000 $200 per Unit 4,000 $200 per Unit

Total Expense 146,070 $7,303 per Unit 146,070 $7,303 per Unit Net Operating Income (Actual Underwriting) 148,988 153,130 Asking Price Market Market Cap Rate #VALUE! #VALUE! Debt 2,218,040 2,218,040 Equity #VALUE! #VALUE! Estimated Debt Service 99,812 99,812 Cash Flow 49,176 53,318 Cash on Cash #VALUE! #VALUE!

NOTES: PRO FORMA: Income and Expenses were calculated using owners December 2018 YTD Expenses . Insurance is estimated. Management Fees calculated as 7.9% of Gross Income and Other expenses are Estimated for the Pro Forma.

DISCLAIMER: The information contained herein has been obtained from sources that we deem reliable. We have no reason to doubt the accuracy of the information, but we have not verified it and make no guaranty, warranty or representation about it. It is your resonsibility to independently confirm its accuracy and completeness. We have not determined whether the property complies with deed restrictions or any city licensing or ordinances including life safety compliance or if the property lies within a flood plain. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME OR EXPENSE AND PERFORM OR HAVE PERFORMED ANY INSPECTIONS TO VERIFY POSSIBLE CONTAMINATION BY ASBESTOS, LEAD PAINT, MOLD OR ANY OTHER HAZARDOUS SUBSTANCES. The owner reserves the right to withdraw this listing or change the price at anytime without notice during the marketing period.

2/13/2019 2300Park 2300 Park Street ● 2300 Park Street ● Houston, TX 77019 Property Overview PROPERTY INFORMATION CURRENT MORTGAGE TAXING AUTHORITY Harris County Age: 1966 Mortgage Balance $1,134,376 ACCT #: 0180580000001 Elec Meter: Indiv Lender Houston ISD $1.206700 A/C Type: HVAC Amortization 360 Harris County $0.418580 Water: RUBS P & I $6,263 Harris County Flood Cntrl $0.028770 Wiring: Copper Type Fixed Port of Houston Authy $0.011550 Roof: Flat Assumable Yes Harris County Hosp District $0.171080 Paving: Asphalt Monthly Escrow $4,538 Harris County Educ Dept $0.005190 Materials: Brick/Wood Origination Date 9/1/2013 Houston Community College $0.100263 # of Stories: 2 Due Date Aug-23 City of Houston $0.588310 Buildings: 3 Interest Rate 5.22% Surface Parking: Yes Yield Maintenance Yes Garage Parking: No Transfer Fee 1%+app+legal 2018 Tax Rate/$100 $2.530443 Est Units/Acre: 54.79 2018 Assessment $2,404,500 KeyMap: 492Z COLLECTIONS AVERAGES Total $295,058 $27,000 Jan 2018 $25,902 $26,000 12 Month Average $24,588.14 Feb 2018 $23,912 $25,000 Mar 2018 $24,460 $24,000 Apr 2018 $24,394 9 Month Average $24,846.81 May 2018 $25,204 $23,000 Jun 2018 $25,027 $22,000 Jul 2018 $25,435 6 Month Average $24,816.63 $21,000 Aug 2018 $25,193 Sep 2018 $24,094 $20,000 Oct 2018 $23,282 3 Month Average $24,758.23 Nov 2018 $22,329 Dec 2018 $25,826 PLEASE DO NOT VISIT THE SITE WITHOUT AN APPOINTMENT MADE THROUGH THE BROKER.

PROPERTY HIGHLIGHTS

2300 Park Street Apartments is a two story, garen style, 20 unit apartment building located at 2300 Park Street in the Montrose area of Houston, . It contains approximately 12,533 square feet of rentable area and was built in 1966. It is located in the Neartown-Montrose neighborhood. The asset is nestled in a quiet, established, residential neighborhood with an abundance of old oak trees and yesteryear charm.

Residents enjoy a shared on-site laundry facility and ample amenities which include: miniblinds, kitchen pantries, ceiling fans, a full appliance package, granite countertops, hardwood floors, and a beautifully landscaped courtyard. Nearby schools include Wilson Montessori School, Lanier Middle School and Performing & Visual Arts High School.

The tenant profile is predominately young professionals with income above the average Houston Metro income level. Residents enjoy close proximity to the University of St. Thomas, the Museum of Fine Arts, the Houston Museum of Natural Science, Rothko Chapel, the , the and .

The property is in reportedly excellent condition. The previous owner performed a very high end rehab.

Disclaimer: The information contained in this Memorandum reflects material from sources deemed to be reliable, including data such as operating statements, rent roll, etc. provided by the Owner. Notwithstanding, KET Enterprises Incorporated does not make any warranties about the information contained in this marketing package. Every prospective purchaser should verify the information and rely on his accountants or attorneys for legal and tax advice. This offer is “As-Is, Where-Is”. Answers to specific inquiries will have to be supplied by the Owner and are available upon request. Rates of return vary daily. No representations are made concerning environmental issues, if any.

2300 Park Street ● 2300 Park Street ● Houston, TX 77019 Unit Mix UNIT MIX JAN 2019 +EW Type No. Units Sq Ft Total SqFt Market Rent Total Rent Rent/SF

+EW 2 Bed/1 Bath 1 746 746 $1,325 $1,325 $1.78 +EW 1 Bed/1 Bath 1 606 606 $1,195 $1,275 $1.97 +EW 2 Bed/1 Bath 1 746 746 $1,325 $1,325 $1.78 +EW 1 Bed/1 Bath 1 518 518 $1,125 $1,150 $2.17 +EW 1 Bed/1 Bath 1 518 518 $1,130 $1,325 $2.18 +EW 1 Bed/1 Bath 1 518 518 $1,125 $1,125 $2.17 +EW 1 Bed/1 Bath 1 518 518 $1,225 $1,125 $2.37 +EW 2 Bed/1 Bath 1 746 746 $1,150 $1,075 $1.54 +EW 1 Bed/1 Bath 1 606 606 $1,225 $1,050 $2.02 +EW 2 Bed/1 Bath 1 746 746 $1,275 $1,325 $1.71 +EW 2 Bed/1 Bath 1 746 746 $1,495 $1,195 $2.00 +EW 1 Bed/1 Bath 1 606 606 $1,150 $1,150 $1.90 +EW 1 Bed/1 Bath 1 746 746 $1,495 $1,275 $2.00 +EW 1 Bed/1 Bath 1 518 518 $1,125 $1,325 $2.17 +EW 1 Bed/1 Bath 1 518 518 $1,125 $1,125 $2.17 +EW 1 Bed/1 Bath 1 518 518 $1,075 $1,130 $2.08 +EW 1 Bed/1 Bath 1 518 518 $1,050 $1,125 $2.03 +EW 2 Bed/1 Bath 1 746 746 $1,325 $1,225 $1.78 +EW 1 Bed/1 Bath 1 606 606 $1,195 $1,225 $1.97 +EW 2 Bed/1 Bath 1 746 746 $1,275 $1,150 $1.71 20 627 12,533 $1,201 $24,025 $1.92 Average Total Sq. Average Total Average TOTALS AND AVERAGES Total Units Sq. Ft. Feet Rent/Unit Rent Rent/ SF Apartment Features* . Air Conditioning . Hardwood Floors . Granite Countertops . Cable Ready . Dishwasher . Disposal . Range/Oven . Refrigerator . Ceiling Fans . Hi-Speed Internet . Courtyard . Renovated Interiors . Great Inner Loop Location . Gated Community with Off-Street Parking . Onsite Laundry Facility

2300 Park Street ● 2300 Park Street ● Houston, TX 77019 Location 2300 Park Street ● 2300 Park Street ● Houston, TX 77019 Aerial

201 Emerson St. 2300 Park Street ● 2300 Park Street ● Houston, TX 77019 Rent Comparables Rent Comparables (Apartment Data Services 2019) Year Property Name Year Built Occ #Units Avg SF Avg Rent EWG P/SF Renovated

1 1419 Hawthorne 1963 2015 97% 29 404 $690 +EWG 1.709 1419 Hawthorne 2 Westmoreland Central Apartments 1956 N/A 96% 25 376 $1,004 +E 2.670 3619 Garrott St 3 3618 Garrott 1960 N/A 93% 16 534 $1,047 +EW 1.960 3618 Garrott St. 4 Hawthorne Apartments 1965 N/A 92% 24 568 $1,091 +E 1.920 405 Hawthorne St 5 Spruce Garrott 1963 N/A 90% 20 644 $1,185 +E 1.840 3602 Garrott St Totals/Averages Comps 1961 N/A 93% 23 505 $1,003 +E $1.99 2300 Park Street 1966 2016 90% 20 627 $1,201 +EW $1.92 2300 Park Street

Sub-Market Averages - Montrose Museum Midtown 90% 13,191 924 $1,707 1.847 Houston Market Avgs 90% 644,578 882 $1,031 $1.169

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5 3 2 2300 Park Street ● 2300 Park Street ● Houston, TX 77019 Sales Comparables

Property Name Date Sold Price Total Sq. Ft. Price/Unit Price/SF Built Units 1 3602 Garrott 03/20/17 $2,850,000 11,487 $142,500 $248.11 1970 20 3602 Garrott

2 2423 Woodhead 04/01/17 $675,000 3,996 $168,750 $168.92 1915 4 2423 Woodhead

3 Whitehall 11/01/16 $4,292,000 25,042 $148,000 $171.39 1964 29 1903 Portsmouth

4 La Villa Carrie 11/01/16 $4,440,000 30,300 $148,000 $146.53 1966 30 1919 Portsmouth

5 2323 Park 09/18/17 $590,000 2,979 $147,500 $198.05 1929 4 2323 Park Totals/Averages Comps $2,569,400 14,761 $150,950 $186.60 1949 17 2300 Park Street Market 12,533 N/A N/A 1966 20 2300 Park Street

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4 3 2300 Park Street ● 2300 Park Street ● Houston, TX 77019 M O N T R O S E

Montrose, a central Houston community established in 1911, is a demographically diverse neighborhood with renovated mansions, bungalows with wide porches, and cottages located along tree-lined boulevards. Montrose is a major cultural hub. The area was named as one of the "ten great neighborhoods in America" by the American Planning Association, in 2009. Because of the inclusion of Montrose, the , and the area, it is nicknamed "hipstrict", referring to its progressive and urban ethic Montrose houses five of the city's 15 designated historic districts. Development over the years has maintained, if not added to, the community’s distinctive personality which encompasses an interesting selection of architecture. Whether its antique shopping in the West Gray/River Oaks shopping areas, enjoying art, science or history at one of the various museums or simply hanging with friends at a local restaurant or bar, there is always something to see and do in the Montrose area.

AREA DEVELOPMENT

The Montrose area is Houston’s true live/work/play submarket, Montrose has a little bit of everything. River Oaks, Midtown, , and Afton Oaks provide the submarket with a range of diverse living, working, retail, and entertainment destinations that continually attract the who’s who of Houston. In addition, amenities like Memorial Park and the River Oaks District as well as access to Uptown, the Museum District, andthe CBD all provide renters with plenty to do.

Developers have always favored building in this area but with the added competition, it will take time for these new units to lease. Of the properties built during the first wave (2013–14) of supply, most are fully stabilized. The trouble arises in the properties late to the party (2015– 17). Leasing slowed considerably last year, and many of these properties aren't close to reaching stabilization. Demographics can support pricey new apartments and are a main reason so many are built here. More than 60% of households in the area are renters. And when combined with the fact that residents here earn a median income of $85,000/year, the $1,750/month rental rates and a glut of new supply can be justified. HOUSTON, TEXAS 2 0 1 8 B A C K O N T R A C K

REGION IN PERSPECTIVE

The City of Houston, the largest city in Texas and the fourth largest city in the , is located on the coastal prairies of southeast Texas and is home to a diverse array of industries and cultures. Houston is located in Harris County, the nation’s third most populous county. The Houston region, officially designated as the Houston - Woodlands - Sugar Land Metropolitan Statistical Area (MSA), comprises Harris County and eight other counties: Austin, Brazoria, Chambers, Fort Bend, Galveston, Liberty, Montgomery, and Waller. The Houston MSA has a population of approximately 6,772,470 according to new U.S. Census Bureau estimates as of July 1, 2016. The nine county metropolitan area is the fifth-largest metropolitan area in the nation and covers 9,444 square miles. The most urbanized portions of the Houston area are in Harris County, the southern part of Montgomery County, and the eastern section of Fort Bend County. Houston is home to the tenth largest port in the world and is in close proximity to Mexico, a key trading partner. It has a temperate climate and an affordable cost of living. Source:

Partnership - Dec 2017

Ever since its founding as a port city, Houston has been a dynamic international marketplace, attracting capital and people from all over the world. Today, Houston is the nation's fourth largest economy, and what Forbes calls "America's next great global city."

With a population of 2,303,482, according to estimates by the U.S. Census Bureau as of July 1, 2016, the population base includes a wide variety of racial and ethnic groups that give Houston a rich diversity and cosmopolitan feel. Among the nation’s

of metropolitan areas, the Houston MSA ranked fourth in number of Hispanics (2,429,487), seventh in number of Blacks (1,122,767) third and seventh in number of Asians (497,099), according to the Census Bureau’s 2015 American Community Survey. Harris County Statistical covers 1,778 square miles, enough space to fit New York City, Philadelphia, Boston, Chicago, Seattle, Austin and Dallas, with room Liberty, still to spare. At 655 square miles, the City of Houston is larger than six European countries, ranking just below Luxembourg and Bureau above Malta. 444 and The City of Houston lies in three counties: Harris, Fort Bend and Montgomery. Harris County contains the bulk of the City of Houston Mexico, with small portions of the city lying in Fort Bend and Montgomery counties. Houston is the county seat, or administrative center, of Harris County. Harris County contains all or part of 34 incorporated cities. The Houston MSA includes 124 incorporated Houston communities.

Source: Greater Houston Partnership - Dec 2017

If the MSA were an independent nation its economy would rank 24th largest in the world, behind Taiwan ($523.0 billion), but ahead of Sweden ($497.9 billion).

182 nonstop destinations

Since the dramatic fall of oil prices that occurred in late 2014, Houston’s economy slowed significantly and grew at a lesser pace in 2015, 2016 and 2017 than its’ average annual rate. Even though Houston’s economy saw accelerated growth in 2017, it was well below Houston’s potential. Future growth forecasts are promising as local economists forecast about 45,000 jobs or slightly more in 2018 and expect that number to increase annually through 2021.

.1000 Houston Firms Report

a Foreign Ownership nation’s ) .5,000+ Houston Companies County are doing Business Abroad maintain trade and commercial offices in room Houston and .90+ Nations have Consular 35 active foreign chambers of Representation in Houston

Houston .Houston has the 3rd Largest of Foreign Representation in the incorporated Nation GDP expected to more than double between '15 and '40

Source: Greater Houston Partnership - Dec 2017 Harvey, tax code changes may spur apartment demand Houston’s dumped occurred destroying As the energy capital of the world, Houston was brought interruptions, slowed along on a roller coaster ride. Despite the tumult that occurred in energy, Houston still managed to produce job retail , Houston’s strategic growth primarily in industries dependent on population then Even growth (e.g., public education, health care, leisure and location and core strengths, hospitality). Job losses occurred primarily in sectors that consumer accelerated including an expanding include Houston’s economic base (e.g., oil and gas, replacement healthcare sector, cutting-edge Houston’s manufacturing). medical advancements, promising technological breakthroughs or across industries and strong to import/export trade activity (No. 1 US port in foreign tonnage), uniquely position it to play a vital role in meeting national and Houston has the largest export global market demands. Houston has and will continue to stand as market in the U.S. a leader among U.S. metros and the world. .Port of Houston Ranks 1st in import tonnage for 26 straight years

.Port of Houston is the largest Gulf Coast container port

.Port of Houston ranks 2nd in total tonnage for 24 straight years

.The Texas Medical Center is the world's largest medical complex with $3 billion in construction projects under

.The Texas Medical Center has 50 million developed square feet Source: Greater Houston Partnership - Dec 2017 2 0 1 8 E c o n o m i c F o r e c a s t mortgage owning that

Harvey, tax code changes may year,

few spur apartment demand Bahrami Houston’s economy was jolted in August 2017 when Hurricane Harvey slammed the Texas Gulf Coast and foreclosures leverage," dumped over 50 inches of rain over a three-day period. The event caused widespread flooding, destroying homes, businesses and infrastructure. Further, the historical rainfall totals caused supply chain year interruptions, halted distribution logistics and shut down the Port of Houston, manufacturing plants and retail stores for at least a week. Houston area retail spending rose the week leading up to the event and landlords then plummeted 58.7% the week after. The good news is that Houston’s resiliency lead to an uptick in thousands consumer spending within weeks after the event, mostly caused by area residents purchasing McClenny replacement items damaged by the storm. Boriack

Houston Landlords are Bullish Source: 1/24/18

Houston apartment landlords are bullish going into the new year amid an improving job market, lower supply pipeline and a post-Harvey environment in which many Houstonians flooded out of their homes are likely to remain renters.

."The numbers of people moving back to homes is going to be much less than anticipated," multifamily analyst Bruce McClenny said Wednesday morning at an annual meeting of the Houston Apartment Association.

. McClenny estimates about 19,000 units were leased as a result of the devastating August hurricane. Several thousand could stay in apartments.

.A healthier job market in 2018 will bolster demand for rentals.

.When the price of oil was $52 a barrel, Patrick Jankowski, senior vice president of research for the Greater Houston Partnership, forecast 45,500 jobs would be created this year. It closed Wednesday at $65.61. "If oil prices stay above $60 for two quarters, my forecast will be low," he said at -area industry event.

.Camden Property Trust recently started construction on an apartment tower downtown after it had been delayed during the energy downturn. The company's CEO said Wednesday that changes in the federal tax code will benefit renters.

."When you double the standard deduction and limit mortgage deduction ... you have shifted the incentives for IN SUMMARY owning a home versus renting," Ric Campo said. "Doubling that creates more income for our residents." "When you double the

.Local apartment rents could grow as much as 2 percent this standard deduction and year, said McClenny, president of ApartmentData.com. limit mortgage deduction ... .Despite low oil prices and an oversupply of rental units the last few years, the market fared reasonably well, said Cyrus you have shifted the Bahrami of Alliance Residential. "We didn't have a lot of foreclosures. We structured our deals better, with less incentives for owning a leverage," Bahrami said, referring to the industry as a whole. home versus renting," Ric .The market hit bottom in 2016 and began to turn around last year. Campo said. "Doubling that

creates more income for .The hurricane damaged some 15,662 units and by year's end landlords saw an annual average of $42 in rent growth as our residents." thousands of flooded homeowners leased apartments, McClenny said.

."We saw the concessions go away," said landlord John Boriack. Source: Houston Chronicle 1/24/18

Demand Surge Puts Houston on Top in 4Q 2017

Houston was the nation's leader for apartment demand in the 4th quarter 2017 as a flurry of leasing activity following Hurricane Harvey drove up the metro's overall numbers. The big surge in demand provided a shot in the arm to an apartment market which had struggled over the past two years.

The number of occupied units in the Houston metro jumped by 13,755 in the final three months of 2017. Houston's demand figure was nearly three times that of the nationl's #2 metro, Dallas, which absorbed 4,715 units in the quarter.

Houston's elevated demand volumnes at the end of 2017 were bolstered by displaced residents turning to apartments for alterntive housing. Coupled with the changes to the tax laws the incentive for home ownership in the 25 to 40 year age group has lost the appeal it once had. Millinials are increasingly lured by apartment living that gives them more economic and personal freedom, free from the upkeep of a home. Source: realpage.com 2/7/18

IN SUMMARY The storm passed, businesses reopened, employees returned to work, and recovery efforts were underway. Houstonians started rebuilding their homes and replacing storm-damaged furniture and clothing. Families living in hotels and households without kitchens ate at local restaurants and cafés. limit mortgage deduction ... Businesses took on contract workers to help with the cleanup. And wholesalers filled their warehouses and added to their payrolls to better serve the growing retail and construction trade.

Q4/17 proved to be the best fourth quarter on record for overall job growth in Houston. The region added 66,200 jobs the last three months of the year. 3 Construction, retail, restaurants, wholesale trade Campo said. "Doubling that and employment services set records for job growth in the quarter. Granted, some of the Q4 job growth

resulted from hiring that didn’t occur in September being rolled into October. But even if one subtracts anticipated September growth (10,000 jobs) from Q4/17, the region

experienced its second best quarter on record. Source: Greater Houston Partnership March 2018

The Long-Term Outlook

The Perryman Group, a Texas-based economic and financial analysis firm, recently released its latest GDP, population and employment forecasts. The group expects the Houston metro area’s GDP to grow at a compound annual growth rate (CAGR) of 3.1 percent from ’15 to ’40 and reach $998.8 billion in ’40. The fastest growing sectors during this period are projected to be in management of companies and enterprises (4.3 percent CAGR), administrative and support and waste management (4.0 percent), and health care and social assistance (3.9 percent). Houston will continue to account for approximately 30 percent of the state’s GDP throughout the forecast period. The Perryman Group expects Texas’ GDP to grow at an annual rate of 3.2 percent from ’15 to ’40, outpacing the U.S. rate of 2.7 percent. The firm sees Houston’s population growing at a CAGR of 1.6 percent from ’15 to ’40, reaching 9.9 million in ’40. Wage and salary employment is expected to increase 1.7 percent annually to 4.7 million in ’40. The Houston metro area is forecasted to add 3.3 million residents and an additional 1.6 million jobs during this period, accounting for 28.0 percent of Texas’ population growth and onefourth of the state’s employment gains.

Source: Greater Hoston Partnership - March 2018 2300 Park Street ● 2300 Park Street ● Houston, TX 77019 Demographics

SUMMARY PROFILE 1 Mile 2 Mile 3 Mile 2000-2010 Census, 2018 Estimates with 2023 Projections Radius Radius Radius Calculated using Proportional Block Groups

2300 Park Street ● 2300 Park Street ● Houston, TX 77019 Ethnicity - 1 Mile Radius

2018 Estimated Population 30,656 95,262 179,345 2023 Projected Population 32,527 100,471 190,391 2010 Census Population 26,676 81,203 150,491 2000 Census Population 26,368 67,102 131,460 25% White Projected Annual Growth 2018 to 2023 1.2% 1.1% 1.2% Black Historical Annual Growth 2000 to 2018 0.9% 2.3% 2.0% Asian POPULATION 2018 Median Age 36.5 35.4 35.6 8% 56% Other Hispanic 6% 2018 Estimated Households 18,287 55,792 97,045 5% 2023 Projected Households 19,828 60,119 105,377 2010 Census Households 15,148 45,229 76,944 2000 Census Households 15,046 35,598 61,854

Projected Annual Growth 2018 to 2023 1.7% 1.6% 1.7% Historical Annual Growth 2000 to 2018 1.2% 3.2% 3.2% HOUSEHOLDS

25%

2018 Estimated White 74.2% 70.1% 66.5% 2018 Estimated Black or African American 6.8% 11.6% 15.3% Non-Hispanic 2018 Estimated Asian or Pacific Islander 8.1% 8.7% 8.6% Hispanic 2018 Estimated American Indian or Native Alaskan 0.4% 0.5% 0.4% 2018 Estimated Other Races 10.6% 9.2% 9.2% 75% 2018 Estimated Hispanic 24.9% 24.5% 24.1% RACE AND ETHNICITY

2018 Estimated Average Household Income $148,006 $152,820 $160,597 2018 Estimated Median Household Income $102,696 $106,104 $110,872 2018 Estimated Per Capita Income $88,435 $89,747 $87,347 INCOME Average Income Subject - 1 Mile Radius 2018 Estimated Elementary (Grade Level 0 to 8) 1.9% 2.0% 2.3% $160,000 $148,006 2018 Estimated Some High School (Grade Level 9 to 11) 1.7% 2.1% 2.7% 2018 Estimated High School Graduate 5.8% 6.4% 7.9% $140,000 2018 Estimated Some College 13.8% 12.9% 12.7% $120,000 2018 Estimated Associates Degree Only 4.2% 3.8% 4.1% 2018 Estimated Bachelors Degree Only 36.1% 37.1% 36.0% $100,000 (AGE 25+)

EDUCATION 2018 Estimated Graduate Degree 36.3% 35.7% 34.2% $80,000 $72,703

$60,000

2018 Estimated Total Businesses 2,292 10,110 24,685 $40,000 2018 Estimated Total Employees 19,067 121,409 509,510 2018 Estimated Employee Population per Business 8.3 12.0 20.6 $20,000 2018 Estimated Residential Population per Business 13.4 9.4 7.3 $0 BUSINESS Subject Houston 2300 Park Street ● 2300 Park Street ● Houston, TX 77019 Flood Plain Map

2300 Park Street

PLEASE VERIFY! 2300 Park Street ● 2300 Park Street ● Houston, TX 77019 2300 Park Street ● 2300 Park Street ● Houston, TX 77019 Assumption

or All cash

N/A 27272300 Brazos Park Lofts Street ● 2727 Brazos Street ● Houston, TX 77006 apartment homes D I S C L A I M E R & N O N-E N D O R S E M E N T N O T I C E

Disclaimer: The information contained in this Memorandum reflects material from sources deemed to be reliable, including data such as operating statements, rent rolls, etc. However, we (KET Enterprises Incorporated or any of the owners or officers, directors, employees, agents or representatives of any such entities) have not verified its accuracy and make no guarantee or representation about it. It is submitted subject to the possibility of errors, omissions, change of rental or other conditions. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. We make no representations or warranties, expressed or implied, as to the validity, accuracy or completeness of the information provided or to be provided, and nothing herein shall be deemed to constitute a representation, warranty or promise by any such parties as to the future performance of the Property or any other matters set forth herein. You and your tax and legal advisors should verify the information and rely on his accountants or attorneys for legal and tax advice. Rates of return vary daily. No representations are made concerning environmental issues, if any.

Non-Endorsement Notice: KET Enterprises Incorporated is not affiliated with, sponsored by, or endorsed by any commercial tenant 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 KET Enterprises Incorporated or any of the owners or officers, directors, employees, agents or representatives of any such entities, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY

FOR INFORMATION PLEASE CONTACT:

T OM WILKINSON MARK KALIL Broker/Vice President Broker/Owner

KET ENTERPRISES INCORPORATED MARK KALIL & ASSOCIATES, INC.

[email protected] [email protected] 713-355-4646 713-799-8700

4205 San Felipe I Suite 355 I Houston, Tx 77027 2001 Holcombe Blvd I Suite 105 I Houston, Tx 77030

www.ketent.com www.markkalil.com

Broker License #0406902 Broker License #0457578