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716 Lakeview Avenue OM MIDTOWN MULTIFAMILY VALUE-ADD OPPORTUNITY 5 UNITS ● 400 FT FROM PONCE CITY MARKET TABLE OF CONTENTS DISCLAIMER & LIMITING CONDITIONS 3 Bryan Pruiett EXECUTIVE SUMMARY 4 (706) 264-7819 PROPERTY OVERVIEW 6 [email protected] RENOVATION + SCOPE 7 Austin Matthiessen LOCATION MAP 9 (678) 367-1058 PHOTOS 1 0 [email protected] PROPERTY STRUCTURE 12 2964 Peachtree Rd. NW, Suite 650 CARRIAGE HOUSE 13 Atlanta, GA, 30305 www.pruiettcapital.com TAX PARCEL 14 IN THE AREA 15 AREA DEMOGRAPHIC 17 ABOUT THE AREA 18 COMPARATIVE MARKET ANALYSIS 19 STABILIZED INCOME ANALYSI S 2 0 DISCLAIMER & LIMITING CONDITIONS MIDTOWN MULTIFAMILY OPPORTUNITY | 5 UNITS 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 or advice as to the value of the Property by Pruiett Capital Partners. 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 to purchase the Property 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 to purchase 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 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 Owner. 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 Pruiett Capital Partners. or Owner/Seller. The terms and conditions set forth above apply to this Offering Memorandum in its entirety and all documents, disks and other information provided in connection therewith. Page 3 of 20 EXECUTIVE SUMMARY MIDTOWN MULTIFAMILY OPPORTUNITY | 5 UNITS • Renovated five-unit 7,000 SF apartment complex in highly sought after Midtown neighborhood. • 100% historical and current occupancy. • Sits 400 FT from Ponce City Market and the Atlanta BeltLine. Walking distance to Piedmont Park and Midtown’s most popular bars and restaurants. • Current ownership acquired off-market from an estate liquidation; renovated units with new kitchens, bathroom upgrades, granite counter tops, stainless steel appliances, washer/dryers, interior paint, and lighting fixtures. • Re-leased units to new tenants following upgrades and management efficiencies. • Units include hardwood floors, high ceilings, and double pane windows. • Grandfathered-use per current zoning providing significant barriers to entry and on-going value appreciation. PRICE | $1,475,000 • Separate front and back access for all units with individual back porches. Page 4 of 20 EXECUTIVE SUMMARY MIDTOWN MULTIFAMILY OPPORTUNITY | 5 UNITS • Units have front facing, clear views of Ponce City Market. • Seven Off-street (1 covered) parking spaces & On-street parking. • Additional value-add opportunities in continuing to push existing rents to market, paid reserved parking opportunities, further unit upgrades, carriage house expansion, and overall appreciation as area continues to grow and re-develop. Midtown is Atlanta’s largest neighborhood in population, and area will continue to boom over the coming years. UNIT MIX: • (4) spacious, 1000 SF 1 bedroom / 1 bathroom units. • (1) two-story, 800 SF 2 bedroom / 2 bathroom unit with large deck. [New buyer to complete build out of unit bottom floor following lease termination of existing tenant] PRICE | $1,475,000 Page 5 of 20 PROPERTY OVERVIEW MIDTOWN MULTIFAMILY OPPORTUNITY | 5 UNITS 716 Lakeview Ave. NE ADDRESS 716 Lakeview Ave. NE, Atlanta, GA, 30308 COUNTY Fulton ZONING R5 (Grandfathered non-conforming 5-unit) NUMBER OF 5 UNITS 1 bedroom / 1 bathroom UNIT MIX 2 bedroom / 2 bathroom NUMBER OF 2 STORIES BUILDING SIZE 7,000 SF SITE ACREAGE 0.16 Acres YEAR BUILT 1930 / 2017 & 2018 (renovated) Seven Off-street (1 covered) parking spaces PARKING & On-street parking HVAC Central heating & cooling Page 6 of 20 RENOVATION + SCOPE MIDTOWN MULTIFAMILY OPPORTUNITY | 5 UNITS 716 Lakeview Ave. NE Previous Previous Previous Renovated Renovated Renovated KITCHEN OTHER INTERIOR BATHROOM • Granite countertops • Two tone paint • New toilets • New faucets & fixtures • Full lighting package • New vanity • New stainless steel appliances • All hardwood is original that has • Professional tub resurfacing • New flooring been sanded and polished • New light fixtures • Interior paint • Washer/dryers added to units • New tile • Modern fans and light fixtures • Interior paint • Wood blinds Page 7 of 20 RENOVATION + SCOPE MIDTOWN MULTIFAMILY OPPORTUNITY | 5 UNITS EXTERIOR • Landscape improvement716 Lakeview Ave. NE • New paint on doors and accents • All concrete cracks have been sealed • Covered parking space has been added • Structural reinforcement in crawlspace • Back deck has been repaired and painted • Roof and gutter restoration • General repairs to main structure • Carriage house decking has been partially re-built and renovated Page 8 of 20 LOCATION MAP MIDTOWN MULTIFAMILY OPPORTUNITY | 5 UNITS MIDTOWN 716 Lakeview Ave. NE VIRGINIA HIGHLAND SUBJECT PROPERTY OLD FOURTH WARD Page 9 of 20 PHOTOS MIDTOWN MULTIFAMILY OPPORTUNITY | 5 UNITS 716 Lakeview Ave. NE Apt 3 Kitchen Apt 3 Bathroom Apt 3 Living Room Apt 1 Dining Room Apt 1 Living Room Apt 2 View Of Ponce City Market Apt 2 Bedroom Apt 1 Hallway Page 10 of 20 PHOTOS MIDTOWN MULTIFAMILY OPPORTUNITY | 5 UNITS 716 Lakeview Ave. NE Apt. 3 Dining Room Apt. 5 Living Room Apt. 5 Kitchen Apt. 1 Bedroom Building Entrance View Of Ponce City Market Apt. 3 Rear Deck Page 11 of 20 PROPERTY STRUCTURE MIDTOWN MULTIFAMILY OPPORTUNITY | 5 UNITS CARRIAGE HOUSE • Two-story carriage house 3 with large rear deck OFF - S T R E E T PARKING 2 • Seven off-street (1 covered) parking spaces MAIN BUILDING • Four 1,000 SF 1 BD/1BTH units 1 • All units have unique front/back entrances & rear deck 400 ft Page 12 of 20 CARRIAGE HOUSE MIDTOWN MULTIFAMILY OPPORTUNITY | 5 UNITS • Property contains a two-story carriage house behind main apartments. • Top floor is currently leased and has large rear deck that faces Ponce City Market. • Bottom floor was previously used as an on-site coin laundry room + paid storage units. • Bottom floor has been demolished to add an additional 2 bedrooms (or other configuration decided by new owner.) Comparable units in the area consistently rent between $2,000-$2,600/month. • Ready for immediate build-out following lease expiration with existing top floor tenant. Proposed Bottom Floor Plan In Carriage House Page 13 of 20 T A X P A R C E L MIDTOWN MULTIFAMILY OPPORTUNITY | 5 UNITS Page 14 of 20 IN THE AREA MIDTOWN MULTIFAMILY OPPORTUNITY | 5 UNITS 6 VIRGINIA HIGHLAND 716 Lakeview Ave. NE MIDTOWN 3 SUBJECT PROPERTY 1 4 OLD FOURTH WARD 3 INMAN PARK LITTLE FIVE POINTS 5 DOWNTOWN 2 EAST ATLANTA Page 15 of 20 SUMMERHILL GRANT PARK IN THE AREA MIDTOWN MULTIFAMILY OPPORTUNITY | 5 UNITS 716 Lakeview Ave. NE Page 16 of 20 AREA DEMOGRAPHIC MIDTOWN MULTIFAMILY OPPORTUNITY | 5 UNITS 716 Lakeview Ave. NE Page 17 of 20 ABOUT THE AREA MIDTOWN MULTIFAMILY OPPORTUNITY | 5 UNITS LOCATION MIDTOWN 716 Lakeview Ave. NE Located between the commercial district of Downtown Atlanta and the affluent residential/commercial area of Buckhead to the North, Midtown Atlanta is the second largest financial district in the city. Midtown Atlanta contains many of the city’s high rise office and condominium towers, including such landmark buildings like the Bank of America Plaza, Atlantic Center, 1180 Peachtree (often called the Symphony Building) and the newly built 1075 Peachtree (12thand Midtown). Notable condominium towers include Viewpoint Midtown, Spire, Mayfair Renaissance/Tower and Luxe, to name a few. Midtown Atlanta is often called “the Heart of the Arts” since it is home to the Fox Theater, Woodruff Arts Center, The High Museum, Museum of Modern Art and the 14th Street Playhouse. Midtown is many things to many people….it’s an urban neighborhood full of life. Nothing seems out of reach when strolling the streets of Midtown. From restaurants to the pharmacy..it’s all here. The 200 acre Piedmont Park is the heart of Midtown, often called our “backyard.” With places to play, swim, or just relax, this masterpiece, designed by Frederick Olmstead is host to one of the longest running festivals in the South, the Atlanta Dogwood Festival.

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