CARVAJAL CHELSEA CONDOS 18-UNIT CONDOMINIUM | CLOSE TO UNIVERSITY OF TEXAS AT AUSTIN GROUP ADDRESS: 1000 WEST 25TH STREET | AUSTIN, TEXAS 78705 COMPANY CONTACTS Brokerage Information The Carvajal Group, LLC Lic# 551482 3405 Glenview Ave, Austin TX 78703 Broker: Eric Carvajal - Lic# 509980 [email protected] Sales Agent: Cristina Ramirez Lic# 641939 [email protected] Schedule a Property Tour All tours of the property will be coordinated and accompanied by Cristina Ramirez. For proper scheduling please allow a minimum of 24-hour notice by contacting: Cristina Ramirez 512.796.5895 [email protected] Submitting Offer Details Seller: Clyde Rabb Littlefield Estate Preferred Title - Stewart - 901 S. Mopac building III Suite #100 Austin, TX 78746 Escrow officer: Shawna Fletcher All offers should be submitted to Cristina Ramirez via email at: [email protected] or dropped off to Carvajal Group office - 3405 Glenview Ave, Austin TX 78703 Disclaimer The Seller, Estate of Clyde R. Littlefield, the Carvajal Group and its agents, and the independent executor of said Estate, Wesley G. Ritchie, make no representation or warranty as to the completeness and accuracy of the financial information contained in the sales and marketing materials covering the property. Any interested party should make its own investigation as to the income and expenses that would be associated with ownership of this property and should rely solely on said investigation. Likewise, at closing the property will be conveyed as is, and without any warranties, except for a special warranty of title. CARVAJAL GROUP 2 Trec #0551482 TABLE OF CONTENTS 4 INVESTMENT SUMMARY 7 INVESTMENT OVERVIEW 13 FINANCIALS 15 CAMPUS OVERVIEW CARVAJAL GROUP 3 Trec #0551482 INVESTMENT SUMMARY CARVAJAL GROUP 4 Trec #0551482 INVESTMENT SUMMARY Introduction Chelsea Condominiums located on the corner of 25th and San Gabriel is a 3- story complex comprised of eighteen units in the West Campus neighborhood. This property is walking distance to the University of Texas and Guadalupe street “Drag” that is full of clothing stores, restaurants, and bookstores. This complex is also close proximity to Blanton Museum of Art, the Harry Ransom Center, LBJ Library and several other attractions. Each of the eighteen units offer in- unit washer and dryer and reserved parking spots. PROPERTY INFORMATION Number of Units 18 Number of Beds 42 Number of Stories 3 Year Built 1983 Average Unit Size 740 SF Price Call for offers Land Size .38 acres (approximate) Zoning UNO CARVAJAL GROUP 5 Trec #0551482 INVESTMENT SUMMARY Investment Highlights West Campus Neighborhood is heavily populated by students due to the proximity to University of Texas at Austin. The west campus neighborhood is bounded by West 29th St, Guadalupe St, North Lamar and Martin Luther King Jr Blvd. West Campus is also home to more than 50 Greek organizations, more than 12- co-ops and many more student organizations amongst the vast variety of houses, apartments, historic mansions, condominiums and duplexes. University Neighborhood Overlay – also known as UNO plan was passed in 2004 to promote a residential community that is close to campus and to end the scattered student housing throughout the city. By allowing the west campus area to be rezoned, the redevelopment of new construction has provided more space for the growing student population. UNIVERSITY NEIGHBORHOOD OVERLAY CHELSEA CONDOS UNIVERSITY OF TEXAS AUSTIN WEST CAMPUS CARVAJAL GROUP 6 Trec #0551482 INVESTMENT OVERVIEW CARVAJAL GROUP 7 Trec #0551482 INVESTMENT OVERVIEW LOCATION MAP MOPAC CHELSEA CONDOS IH-35 E MARTIN LUTHER KING JR BLVD GUADALUPE ST N LAMAR BLVD IH-35 CARVAJAL GROUP 8 Trec #0551482 INVESTMENT OVERVIEW AERIAL VIEW UNIVERSITY OF TEXAS THE PERRY AT AUSTIN TOWER CASTANEDA LIBRARY LBJ PRESIDENTIAL MOODY COLLEGE OF LIBRARY COMMUNICATION DARRELL K ROYAL - TX ARCHITECTURE AND MCCOMBS SCHOOL KUEHNE PHYSICS MEMORIAL STADIUM MATHEMATICS PLANNING LIBRARY OF BUSINESS ASTRONOMY LIBRARY FORTY ACRES PHARMACY CHELSEA CONDOS CARVAJAL GROUP 9 Trec #0551482 INVESTMENT OVERVIEW PROPERTY INFORMATION Style Low-rise Number of Stories 3 Exterior Walls Brick Roof Pitched and flat Floor Covering Carpet, faux wood and hard tile Paving Concrete MECHANICAL SYSTEMS Electrical Individually metered (Resident pays) HVAC Individual climate controlled units Water/Sewer Master-metered (Owner pays) PARKING Surface/Covered Spaces 28 TOTAL 28 CARVAJAL GROUP 10 Trec #0551482 INVESTMENT OVERVIEW Unit Amenities 2/1 UNITS • Stackable washer and dryer • Hard surface common area flooring • Sizable bedrooms • One reserved parking spot 3/3 UNITS • In unit full size washer and dryer • Double master suites • Vaulted ceilings • Fireplace • Microwave • 2 reserved parking spots CARVAJAL GROUP 11 Trec #0551482 PROPERTY OVERVIEW Unit Mix / Floor Plans # OF # OF UNIT TOTAL UNIT TYPE UNITS BEDS SIZE (SF) SF 2 bed / 1 bath 4 8 616 2,464 2 bed / 1 bath 8 16 671 5,368 3 bed / 3 bath 6 18 916 5,496 TOTAL / AVG. 18 42 740 13,328 CARVAJAL GROUP 12 Trec #0551482 FINANCIALS CARVAJAL GROUP 13 Trec #0551482 FINANCIAL ANALYSIS Monthly Rent Roll $29,000 2017 Expenses Unit # Unit size Sq ft per TCAD Monthly rent Insurance $15,013.95 101 2/1 616 $1,475.00 Utilities 102 2/1 616 $1,450.00 $23,945.11 (Approx.) 103 2/1 616 $1,400.00 Landscaper $2,700.00 104 2/1 616 $1,400.00 201 2/1 671 $1,400.00 Pest Control $1,929.00 202 2/1 671 $1,350.00 Taxes $80,952.30 203 2/1 671 $1,350.00 204 2/1 671 $1,375.00 Property mgmt. $16,980.00 205 3/3 916 $2,175.00 206 3/3 916 $1,800.00 Maintenance $23,384.02 207 3/3 916 $2,175.00 208 3/3 916 $2,075.00 209 3/3 916 $2,100.00 Total $164,904.38 210 3/3 916 $2,100.00 301 2/1 671 $1,350.00 302 2/1 671 $1,325.00 303 2/1 671 $1,375.00 304 2/1 671 $1,325.00 Total monthly rent $29,000.00 Disclaimer The Seller, Estate of Clyde R. Littlefield, the Carvajal Group and its agents, and the independent executor of said Estate, Wesley G. Ritchie, make no representation or warranty as to the completeness and accuracy of the financial information contained in the sales and marketing materials covering the property. Any interested party should make its own investigation as to the income and expenses that would be associated with ownership of this property and should rely solely on said investigation. Likewise, at closing the property will be conveyed as is, and without any warranties, except for a special warranty of title. CARVAJAL GROUP 14 Trec #0551482 MARKET OVERVIEW CARVAJAL GROUP 15 Trec #0551482 MARKET OVERVIEW University of Texas Campus overview On September 15, 1883 the University of Texas at Austin opened its doors with one building, eight professors, one administration agent and 221 students. Currently, UT Austin stretching across 431 acres is a distinguished institute; housing approximately seven museums, numerous libraries, over 50,000 students and 24,000 faculty and staff. Top Ranked Academics University of Texas at Austin offers a vast variety of degree programs but are best known for business, engineering, communication and geology studies. According to 2017/2018 U.S. News & World Report ranking, The McCombs School of Business at the University of Texas at Austin ranks #5, Cockrell School of engineering ranks #9, Moody College of Education #1 advertising program and one of the top 25 film schools in the U.S., and Jackson School of Geosciences has been ranked the #1 Geology program in the country. Athletics As one of the few self-sustaining athletic programs in the nation, UT at Austin have successfully instilled passion and knowledge to win competitively while succeeding academically. Since 1949, UT has earned a total of 51 Nation Championships and claimed more Big 12 Conference titles than any other school since 1996. UT at Austin have a huge fan base that carry on the traditions of Bevo, know every word of “Texas Fight” and “The eyes of Texas” song while holding the Hook’em Horns hand sign. CARVAJAL GROUP 16 Trec #0551482 CARVAJAL GROUP 17 Trec #0551482 MARKET OVERVIEW Enrollment History Academic Total Enrollment Percent Undergraduate Undergraduate % Graduate Graduate % % Freshmen % Undergraduates # Undergraduates Year Enrollment Change Change Enrollment Change Enrollment Change Living ON Campus Living OFF Campus Living OFF Campus 2007 50,170 - - 37,459 - 12,711 - 57% 80% 29,930 2008 49,984 -186 -0.37% 37,389 -0.19% 12,595 -0.91% 60% 80% 30,053 2009 50,995 1,011 2.02% 38,168 2.08% 12,827 1.84% 64% 80% 30,649 2010 51,195 200 0.39% 38,420 0.66% 12,775 -0.41% 65% 80% 30,736 2011 51,112 -83 -0.16% 38,437 0.04% 12,675 -0.78% 66% 80% 30,750 2012 52,186 1,074 2.10% 39,955 3.95% 12,231 -3.50% 64% 81% 32,364 2013 52,059 -127 -0.24% 39,979 0.06% 12,080 -1.23% 62% 81% 32,383 2014 51,313 -746 -1.43% 39,523 -1.14% 11,790 -2.40% 63% 81% 32,014 2015 50,950 -363 -0.71% 39,619 0.24% 11,331 -3.89% 66% 81% 32,091 2016 51,331 381 0.75% 40,168 1.39% 11,163 -1.48% 61% 82% 32,938 2017 51,525 194 0.38% 40,492 0.81% 11,033 -1.16% 65% 82% 33,122 2018* 51,846 MARKET321 OVERVIEW0.62% - - - - - - - 2019* 52,416 570 1.10% - - - - - - - 2020* 53,202 University786 of Texas 1.50%Enrollment History- - - - - - - 2021* 53,734 532 1.00% - - - - - - - *Future Enrollment Statistics Provided by AxioMetrics UNIVERSITY OF TEXAS - AUSTIN University of Texas - Austin 54,000 53,500 53,000 52,500 52,000 51,500 51,000 50,500 Total Enrollment 50,000 49,500 49,000 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018* 2019* 2020* 2021* ACADEMICAcademic YEAR Year *FUTURE STATISTICS BY AXIOMETRICS *Future Enrollment Statistics Provided by AxioMetrics 25 CARVAJAL GROUP 18 Trec #0551482 MARKET OVERVIEW City of Austin Notable Rankings - #1 BEST CITY TO LIVE IN U.S.