34 UNITS 8806 and 8807 Redfield Lane | Austin, TX 78758

SHOWN BY ELLEN MUSKIN DANIEL ELAM VIEW 512.343.2700 x3 512.343.2700 x4 PROPERTY APPOINTMENT ONLY [email protected] [email protected] WEBSITE: WITH LISTING AGENTS LOCATION OVERVIEW RAINTREE

$1B Campus Expansion Regional Retail + Local Restaurants

The DOMAIN Austin FC Hwy 183 (Research Blvd.) Q2 Upscale Tenants Stadium

Payton Gin Rd.

Major Employers

Payton Gin Rd.

Redfield Ln.

Austin’s Tech and Startup Corridor is less than 5-miles ± north of Raintree Apartments, Less than 2-miles from Raintree Apartments is the recently completed "Austin FC" Q2 which is home to many of Austin’s largest tech employers including Dell, Apple, Samsung, Stadium. Sitting on 24-acres, this privately financed, $260-million stadium, will be home IBM, Microsoft, Indeed, Facebook, and Hewlett-Packard. Apple, Inc., is close to complet- to the “Austin FC”, the 27th Major League Soccer team, and Austin’s first major league ing their NEW $1 Billion campus expansion located on 133-acres in northwest Austin. This sports team. Austin FC played its first game at the 20,500-seat stadium in June 2021. The future campus will create 5,000 new jobs with the goal of expanding to 15,000 employees, St. David’s Performance Center, the Austin FC’s new training facility, opened in April 2021 making Apple the largest private employer in Austin. and is 4.5 ± miles from Raintree Apartments. INVESTMENT OVERVIEW RAINTREE

Raintree Apartments SALIENT FACTS 34 Units | Booming North Central Submarket Price: $4,500,000 Raintree Apartments is situated on two (2) separate tax parcels and directly across the street from each other. This property is Terms: All Cash or 3rd Party Financed currently 94% occupied and is 100% pre-leased for August 2021. The units are individually metered for electric, and tenants are # of Units: 34 Total responsible for paying their own electric bills. Each phase has an individual water heater (gas powered). Additionally, the cooking for all residents is gas. Resident's children would attend Wooldridge Elem., Burnet MS, and Navarro HS. # of Buildings: Two (2) Total

Interior finish-outs include stoves/ovens, refrigerators, dishwashers, garbage disposals, pass-thru kitchen bars, ceiling fans # of Parcels: Two (2) Separate in living/bedroom room, and wood-look flooring. Bathrooms feature cast-iron tubs with ceramic tile surrounds. On-site ameni- Year Built: 1971 ties include clothes care facilities in both buildings, large mature landscaping, small balconies, green spaces for social events, barbecues, and grilling area. Total NRSF: 19,100 ± (TCAD) Land Area: 0.8317 ± ACRES (TCAD) LURA restrictions in place. See www.mdsi.com for more information on the Income and Rent Limits for Travis County. Zoning: MF-3-NP Exterior: Brick and Cedar Siding Roofs: Pitched, Composition Shingles HVAC: Individual Electric Water Heater: Two (2) Boilers (Gas) Gas: Cooking and Boilers Laundry Rooms: Two (2) (7W/7D) Parking: 22 (8806 Redfield) and 28 (8807)

The Austin FC Soccer Team Major companies like Dell, IBM, Apple Inc.'s NEW $1 Billion ,133- The Domain, a 303-acre open-air recently started their inaugural Microsoft, Facebook, Samsung, acre Austin campus expansion lifestyle center, featuring 1.8M ± season at the NEW $260-million, Amazon, and St. David’s North with room for 15,000 employees SF of retail, 1.5M ± SF of office 20,500-seat, Q2 Stadium — less Austin Medical Center are about will be completed in 2022 — less space, and 50+ Restaurants, is than 2 ± miles from Raintree Apts. a 10-min. commute from Raintree. than 7 ± miles from Raintree Apts. less than 3 ± miles from Raintree. FINANCIAL ANALYSIS RAINTREE

UNIT MIX Unit Total Market Monthly Annual Rent Units Type SF± SF± Rent Mkt. Rent Mkt. Rent / SF 33 1 Bed / 1 Bath 550± 18,150± $925 $30,525 $366,300 $1.68 1 2 Bed / 1.5 Bath TH 950± 950± $1,075 $1,075 $12,900 $1.13 34 562± 19,100± $929 $31,600 $379,200 $1.65

INCOME T-3 Rental Income Stabilized (May - July 2021) Underwriting Annualized Scheduled Market Rent $379,200 $329,478 Plus: Loss to Lease 0.50% ($1,896) — Less: Vacancy 4.00% ($15,168) — Less: Concessions 1.00% ($3,792) ($3,660) Less: Non-Revenue Units & Bad Debt 0.25% ($948) $2,435 Net Rental Income $358,344 $328,253

Plus: Fee Income $2,500 $670 Plus: RUBS Income $5,000 $250 Plus: Other Income $10,000 $8,809 Total Operating Income (EGI) $375,844 $337,982

EXPENSES T-12 Expenses Per Unit from July 2021 Admin/Advertising $176 $6,000 $4,666 Payroll — — $8,000 Repairs & Maintenance $400 $13,600 $3,339 Management Fee 5.00% $553 $18,792 $14,867 Utilities $1,103 $37,500 $32,670 Contracted Services $294 $10,000 $12,750 Real Estate Taxes 2.226665% $2,505 $85,170 $76,553 Insurance $300 $10,200 $9,112 Total Expenses $181,262 $161,956

Per Unit: $5,331 $4,763 Per SF: $9.49 $8.48

Net Operating Income $194,582 $176,025

Real Estate Tax expense adjusted based on assessed value for T-12 from July 2021 Annual Insurance Premium = $9,112 (T-12 expenses above adjusted to reflect) PROPERTY PICTURES RAINTREE

RAINTREE APARTMENTS 45 Employers 45 Proximity Map 130 45 183

35 MCNEIL RD 1

W PARMER LN AUSTIN’S

ANDERSON MILL RD LARGEST

W HOWARD LN EMPLOYERS

MCNEIL DR State of Texas 63,900 University of TexasPECAN atST AustinE 23,925

W HOWARD LN Dell Technologies 14,030 35 W PARMER LN 1 INNOVATION H-E-B (TX Grocery Store Chain) 13013,901 CENTER E HOWARD LN City of Austin 13,531 183 Federal Government 13,199 IMMANUEL RD DUVAL RD Austin ISD 11,101 DESSAU RD St. David's HealthCare 10,665 TECH Ascension Seton 10,513 CENTER Samsung Austin Semiconductor 8,935

1 Walmart Store Inc. 7,350 Apple 7,000 Amazon 6,600

METRIC BLVD E HOWARD LN Round Rock ISD 6,311 W BRAKER LN IBM Corp. CAMERON RD 6,000 U.S. Internal Revenue Service 5,694 E PARMER LN

DESSAU RD Travis County 5,309 360 E BRAKER LN Tesla 5,000 N LAMAR BLVD Texas State University 4,873 W RUNDBERG LN 130 NXP Semiconductors 4,000 35

183 1 1 ± 3 ± 5 ± 7 ± MILES MILES MILES MILES Disclaimer: Information shown on this map is compiled from numerous sources and may not be complete or accurate. Muskin Commercial, LLC provides this map without any warranty of any kind whatsoever, either express or implied. Information About Brokerage Services

TYPES OF REAL ESTATE LICENSE HOLDERS: y A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker. y A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.

A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): Texas law requires all real estate y Put the interests of the client above all others, including the broker’s own interests; licensees to give the following y Inform the client of any material information about the property or transaction received by the broker; information about brokerage y Answer the client’s questions and present any offer to or counter-offer from the client; and services to prospective buyers, y Treat all parties to a real estate transaction honestly and fairly. tenants, sellers and landlords. A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:

AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner’s agent through an agreement with the owner, usually in a written listing to sell or property management agreement. An owner’s agent must perform the broker’s minimum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer’s agent.

AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant’s agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer’s agent must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by the seller or seller’s agent.

AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. A broker who acts as an intermediary: y Must treat all parties to the transaction impartially and fairly; y May, with the parties’ written consent, appoint a different license holder associated with the broker to each party (owner and buyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction. y Must not, unless specifically authorized in writing to do so by the party, disclose: - that the owner will accept a price less than the written asking price; - that the buyer/tenant will pay a price greater than the price submitted in a written offer; and - any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, unless required to do so by law.

AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.

TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: y The broker’s duties and responsibilities to you, and your obligations under the representation agreement. y Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.

LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please acknowledge receipt of this notice below and retain a copy for your records.

Muskin Commercial, LLC 9000275 [email protected] (512) 343-2700 Licensed Broker / Broker Firm Name or Primary Assumed Business Name License No. Email Phone Ellen Muskin 334236 [email protected] (512) 343-2700 Designated Broker of Firm License No. Email Phone Ellen Muskin 334236 [email protected] (512) 343-2700 Licensed Supervisor of Sales Agent / Associate License No. Email Phone Daniel Elam 616676 [email protected] (512) 343-2700 Sales Agent / Associate’s Name License No. Email Phone

Regulated by the Texas Real Estate Commission Buyer / Tenant / Seller / Landlord Initials Date Information available at www.trec.texas.gov www.muskincommercial.com/property/raintree-apartments

183

1 35

For information on Multifamily

290 Properties 1 360 in Austin, Texas AUSTIN —please contact: 183 35 130 290 ELLEN MUSKIN DANIEL ELAM 1 71 512.343.2700 x3 512.343.2700 x4 [email protected] [email protected]

4601 Spicewood Springs Road Building 4, Suite 101 Muskin Commercial, LLC has prepared this brochure to provide summary information to prospective purchasers and makes no warranty or representation about the content. While this Austin, TX 78759 WWW.MUSKINCOMMERCIAL.COM information has been obtained from sources believed to be reliable; Muskin Commercial, LLC has not conducted any investigation regarding these matters and prospective purchasers should independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are examples only and do not necessarily represent the current or future performance of the property. This brochure does not constitute an offer of sale, but is merely an invitation to bid.