ICBIDAHO COMMERCIAL BROKERAGE MULTI-FAMILY INVESTMENT OPPORTUNITY

Confederate Drive

N St Charles Street Salmon River Imperial Way 501 Imperial Way RPA00000500340

801 Imperial Way Discovery RPA00000500420 Care Center

N Daisy Street B&H FOR ADDITIONAL INFORMATION, PLEASE CONTACT: Moe Therrien 501/801 Imperial Way Cell: 208.859.7935 Salmon, Idaho 83467 Email: [email protected]

121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com IDAHO COMMERCIAL BROKERAGE ICB B&H APARTMENTS SUMMARY SALMON, IDAHO

B&H Apartments 501/801 Imperial Way, Salmon, ID 83467

OFFERING PRICE $ 1,650,000

PRICE PER UNIT $ 51,563

NUMBER OF UNITS 32

UNIT MIX 14 - 1BR Flats 696 SF 14 - 2 BR Townhouses 885 SF 4 - 3 BR Townhouses 1,088 SF

YEAR BUILT 1981

LAND ACRES 2.56 acres

PROFORMA CAP RATE 7.6%

PURCHASE TERMS Cash to Seller

PROGRAM Project Based HUD Section 8

SECTION 8 RENT CONTRACT 20 year start in 2011

121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com 2 All information herein has been obtained from sources deemed reliable but is subject to verification by Buyer. This offering is subject to price change, corrections, errors, omissions, prior sales and/or withdrawal. IDAHO COMMERCIAL BROKERAGE ICB B&H APARTMENTS FINANCIAL OVERVIEW SALMON, IDAHO

2017 CONTRACT RENTS PROPERTY INCOME CURRENT 1 BEDROOM (14) $ 623 CONTRACT MONTHLY RENT $ 22,424 2 BEDROOM (14) $ 723 CONTRACT ANNUAL RENT $ 269,088 3 BEDROOM (4) $ 895 ESTIMATED VACANCY (RENT LOSS 2%) $ 5,381 EFFECTIVE ANNUAL RENT $ 263,700 ADDITIONAL MISC INCOME (LAUNDRY) $ 2,200 $ 265,900

BROKER EXPENSE SUMMARY 2015 2016 2017 PROFORMA MARKETING $ 990 $ 957 $ 719 $ 1000 PROFESSIONAL MANAGEMENT $ 28,006 $ 28,548 $ 20,297 $ 21,300 UTILITIES $ 23,130 $ 22,097 $ 21,292 $ 22,700 ADMINISTRATIVE/ONSITE $ 8,905 $ 10,102 $ 10,526 $ 6,000 BUSINESS COORDINATION/ONSITE $ 12,450 $ 11,990 $ 12,576 $ 12,000 PAYROLL $ 6,813 $ 6,638 $ 7,641 above GENERAL REPAIRS/PAINTING $ 7,895 $ 7,369 $ 7,136 $ 9,000 GROUNDS MAINTENANCE $ 6,790 $ 13,624 $ 3,299 $ 6,000 MAINTENANCE SUPPLIES $ 11,601 $ 13,019 $ 8,125 $ 12,000 MAINTENANCE PAYROLL $ 42,457 $ 40,570 $ 51,685 $ 20,000 $ 13,453 $ 18,923 $ 17,930 $ 19,000 INSURANCE $ 10,251 $ 11,198 $ 10,683 $ 11,300 TOTAL EXPENSES $ 174,522 $ 185,035 $ 171,909 $ 140,300 (4,384/unit)

PROFORMA NET INCOME $ 125,600 LIST PRICE $ 1,650,000 CAP RATE 7.6% GROSS RENT MULTIPLIER 6.2x

121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com 3 IDAHO COMMERCIAL BROKERAGE ICB B&H APARTMENTS EXTERIOR PHOTOS SALMON, IDAHO

121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com 4 IDAHO COMMERCIAL BROKERAGE ICB B&H APARTMENTS EXTERIOR PHOTOS SALMON, IDAHO

121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com 5 IDAHO COMMERCIAL BROKERAGE ICB B&H APARTMENTS INTERIOR PHOTOS SALMON, IDAHO

121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com 6 IDAHO COMMERCIAL BROKERAGE ICB B&H APARTMENTS BROKER BIOGRAPHY/ICBRE OVERVIEW SALMON, IDAHO

WORK HISTORY IDAHO COMMERCIAL BROKERAGE Licensed Broker for 27 years Commercial Appraiser for 37 years Idaho Commercial Brokerage was established in 2002 and operates on • Idaho Commercial Brokerage, LLC (2005): Seller/Buyer the premise of building dependable client-broker relationships Representation – Investment Real Estate Brokerage. unmatched by the larger Apartments, Offices, Retail, Warehouses and Land. corporate approach to brokerage MOE THERRIEN • MSA Realty (1999-2004) - Sole Owner, Broker with two representation. Associate Broker Principal, MAI agents, Seller/Buyer Representation, Investment Real The company consists of agents [email protected] Estate Brokerage. Apartments, Office, Retail, Residential David McDonald, Moe Therrien, and (208) 859-7935 Ryan Cantlon. Idaho Commercial and Land. Brokerage specializes in , • Mountain States Appraisal and Consulting, Inc. (1977 - Present) - Managing partner, office, retail, industrial, and land MAI designation, 1982. Commercial Real Estate Appraiser (Apartments, Office, investment sales. Retail, Warehouse, Land and Special Use). • Ada Real Estate Surveys (1987 - Present) - Ada County Apartment Surveys, and Rent Tracking.

PROFESSIONAL DESIGNATIONS 1990-present: Licensed Real Estate Broker, State of Idaho 1990-present: Realtor – Idaho Association of Realtors 1982-present: Member of the (MAI) 1992-present: Idaho Certified Real Estate Appraiser (#GGA-8)

PERSONAL BACKGROUND • Boise resident since 1977 • Married to wife Roxy / 2 children, Marc 33 and Michael 30 • Washington State University – Bachelors of Arts Degree, Business • Administration- 1977 Summa Cum Laude

121 North 9th Street, Suite 402 • Boise, ID 83702 • (208)343-9300 • icbre.com 7