brian coyle michael costantini · xenia is a friendly town, and is known for its hospitality. with...

3CRE Advisors7815 Cooper Rd #C, Cincinnati, OH 45242513.490.6881 | 3cre.com

Presented By:

TRYFON [email protected]

BRIAN [email protected]

MICHAEL [email protected]

1498 W. SPRING VALLEY PAINTERSVILLE ROAD, SPRING VALLEY , OH 45370

SPRING VALLEY SCHOOLHOUSE APARTMENTS - 16 UNITS

// MULTIFAMILY PROPERTY FOR SALE

Confidential Offering Memorandum // 2

PROPERTY INFORMATION 3

LOCATION INFORMATION 8

FINANCIAL ANALYSIS 12

DEMOGRAPHICS 17

ADVISOR BIOS 21

CONFIDENTIALITY & DISCLAIMER CONTENTSAll materials and information received or derived from 3CRE Advisors its directors,officers, agents, advisors, affiliates and/or any third party sources are provided withoutrepresentation or warranty as to completeness , veracity, or accuracy, condition of theproperty, compliance or lack of compliance with applicable governmental requirements,developability or suitability, financial performance of the property, projected financialperformance of the property for any party’s intended use or any and all other matters.

Neither 3CRE Advisors its directors, officers, agents, advisors, or affiliates makes anyrepresentation or warranty, express or implied, as to accuracy or completeness of the anymaterials or information provided, derived, or received. Materials and information fromany source, whether written or verbal, that may be furnished for review are not asubstitute for a party’s active conduct of its own due diligence to determine these andother matters of significance to such party. 3CRE Advisors will not investigate or verifyany such matters or conduct due diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUEDILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verifyall information and to conduct their own inspections and investigations including throughappropriate third party independent professionals selected by such party. All financialdata should be verified by the party including by obtaining and reading applicabledocuments and reports and consulting appropriate independent professionals. 3CREAdvisors makes no warranties and/or representations regarding the veracity,completeness, or relevance of any financial data or assumptions. 3CRE Advisors doesnot serve as a financial advisor to any party regarding any proposed transaction. All dataand assumptions regarding financial performance, including that used for financialmodeling purposes, may differ from actual data or performance. Any estimates of marketrents and/or projected rents that may be provided to a party do not necessarily mean thatrents can be established at or increased to that level. Parties must evaluate anyapplicable contractual and governmental limitations as well as marketconditions,vacancy factors and other issues in order to determine rents from or for theproperty.

Legal questions should be discussed by the party with an attorney. Tax questions shouldbe discussed by the party with a certified public accountant or tax attorney. Titlequestions should be discussed by the party with a title officer or attorney. Questionsregarding the condition of the property and whether the property complies with applicablegovernmental requirements should be discussed by the party with appropriate engineers,architects, contractors, other consultants and governmental agencies. All properties andservices are marketed by 3CRE Advisors in compliance with all applicable fair housingand equal opportunity laws.

// TABLE OF CONTENTS


Presented By:




SPRING VALLEY SCHOOLHOUSE APARTMENTS - 16 UNITS - 1498 W. SPRING VALLEY PAINTERSVILLE ROAD, SPRING VALLEY , OH 45370

PROPERTY INFORMATION// SECTION 1

Confidential Offering Memorandum PROPERTY INFORMATION // 4

OFFERING SUMMARY

Sale Price: $440,000

Number Of Units: 16

Cap Rate: 9.13%

NOI: $40,151

Lot Size: 3.09 Acres

Year Built: 1953

Building Size: 16,735 SF

Renovated: 2019

Zoning: 401

Market: Dayton

Submarket: Xenia | Spring Valley

Price / SF: $26.29

The 3CRE Team is proud to present the Spring Valley Schoolhouse Apartments. This property consists of 16 Units with a mix oftwelve [12] 1BA/1BR and four [4] studio apartments. This property was converted from an old schoolhouse in 1988 to residentialliving. There is a large cafeteria on site as well as a separate building that could be converted into two additional units. The landlordpays for electric, heat, water, and cable for all the tenants. There are a total of 45 parking spaces on the property as well as on-sitelaundry. This property could easily be converted to a senior living community. The rents are below market which they could eitherbe raised or their could be a utility reimbursement from the tenants.

PROPERTY OVERVIEW

PROPERTY HIGHLIGHTS

• Consists of 16 Units with a mix of twelve [12] 1BA/1BR and four [4] studio apartments.

• Cap Rate 9.13% | COC 16.86% | GRM 4.5

• Landlord pays for electric, heat, water, and cable

• Additional Two Units Can be Added with Building in the Rear

• Easily Converted to Senor Living

• Opportunity to add value through increase in rents or utility reimbursement

// EXECUTIVE SUMMARY


PROPERTY DESCRIPTION

The 3CRE Team is proud to present the Spring Valley Schoolhouse Apartments. Thisproperty consists of 16 Units with a mix of twelve [12] 1BA/1BR and four [4] studioapartments. This property was converted from an old schoolhouse in 1988 to residentialliving. There is a large cafeteria on site as well as a separate building that could be convertedinto two additional units. The landlord pays for electric, heat, water, and cable for all thetenants. There are a total of 45 parking spaces on the property as well as on-site laundry.This property could easily be converted to a senior living community. The rents are belowmarket which they could either be raised or their could be a utility reimbursement from thetenants.

LOCATION DESCRIPTION

Spring Valley, is located 7 miles East from Xenia, OH and 48 miles North of downtownCincinnati. Xenia is a friendly town, and is known for its hospitality. With a population over25,000, Xenia is located approximately 30 minutes east of downtown Dayton. The GreeneCounty Memorial Hospital is located in Xenia. Strip malls, fast food restaurants and newshops are springing up all over the city. Located ten minutes away from Xenia, is the Mall atFairfield Commons.

// PROPERTY DESCRIPTION


// ADDITIONAL PHOTOS


Presented By:





LOCATION INFORMATION// SECTION 2

Confidential Offering Memorandum LOCATION INFORMATION // 9

Spring Valley , OH

// REGIONAL MAP


// LOCATION MAPS


// AERIAL MAPS


Presented By:





FINANCIAL ANALYSIS// SECTION 3

Confidential Offering Memorandum FINANCIAL ANALYSIS // 13

INVESTMENT OVERVIEW SPRING VALLEY SCHOOLHOUSE APARTMENTS

Price $440,000Price per Unit $27,500GRM 4.5CAP Rate 9.1%Cash-on-Cash Return (yr 1) 16.86 %Total Return (yr 1) $21,838Debt Coverage Ratio 1.59

OPERATING DATA SPRING VALLEY SCHOOLHOUSE APARTMENTS

Gross Scheduled Income $95,296Other Income -Total Scheduled Income $95,296Gross Income $95,296Operating Expenses $55,145Net Operating Income $40,151Pre-Tax Cash Flow $14,839

FINANCING DATA SPRING VALLEY SCHOOLHOUSE APARTMENTS

Down Payment $88,000Loan Amount $352,000Interest Rate 5.0%Amortization Schedule 25 YearsDebt Service $25,312Debt Service Monthly $2,109Principal Reduction (yr 1) $6,999

// FINANCIAL SUMMARY


INCOME SUMMARY SPRING VALLEY SCHOOLHOUSE APARTMENTS PER UNIT

Gross Rental Income $97,680 $6,105Vacancy (5%) -$4,884 -$305Laundry Income $2,500 $156

Gross Income $95,296 $5,956

EXPENSE SUMMARY SPRING VALLEY SCHOOLHOUSE APARTMENTS PER UNIT

Property Insurance $3,890 $243Electric/Gas $16,176 $1,011Cable TV $3,837 $239Water/Sewer $6,614 $413Repairs/Maintenance $5,200 $325Trash $2,160 $135Property Taxes $12,268 $766Property Management $5,000 $312

Gross Expenses $55,145 $3,446

Net Operating Income $40,151 $2,509

// INCOME & EXPENSES


UNITNUMBER

UNITBED

UNITBATH

CURRENTRENT

1 1 1 $540

2 1 1 $540

3 1 1 $540

4 1 1 $540

5 1 1 $540

6 1 1 $540

7 1 1 $540

8 1 1 $540

9 1 1 $540

10 1 1 $540

11 1 1 $540

12 1 1 $540

13 1 1 $415

14 1 1 $415

15 1 1 $415

16 1 1 $415

Totals/Averages $8,140

// RENT ROLL


UNIT TYPE COUNT % TOTAL RENT DEPOSIT

1BA/1BR 12 75.0 $540 $270

Studios 4 25.0 $415 $207

Totals/Averages 16 100% $8,140 $4,070

// UNIT MIX SUMMARY


Presented By:





DEMOGRAPHICS// SECTION 4

Confidential Offering Memorandum DEMOGRAPHICS // 18

POPULATION 1 MILE 5 MILES 10 MILES

Total population 244 20,366 139,231

Median age 48.2 38.6 41.0

Median age (Male) 48.0 37.5 39.7

Median age (Female) 48.4 39.4 42.3

HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES

Total households 106 8,104 55,419

# of persons per HH 2.3 2.5 2.5

Average HH income $82,897 $72,609 $78,570

Average house value $256,357 $262,382 $219,106

// DEMOGRAPHICS MAP & REPORT


RACE 1 MILE 2 MILES 3 MILES

Total Population - White 236 18,197 126,354

% White 96.7% 89.3% 90.8%

Total Population - Black 0 1,445 5,580

% Black 0.0% 7.1% 4.0%

Total Population - Asian 4 119 3,199

% Asian 1.6% 0.6% 2.3%

Total Population - Hawaiian 0 0 0

% Hawaiian 0.0% 0.0% 0.0%

Total Population - American Indian 2 157 306

% American Indian 0.8% 0.8% 0.2%



Total Population - Other 0 75 883

% Other 0.0% 0.4% 0.6%

* Demographic data derived from 2010 US Census



Presented By:





ADVISOR BIOS// SECTION 5

Confidential Offering Memorandum ADVISOR BIOS // 22

TRYFON CHRISTOFOROU

Managing Partner

[email protected]: 513.745.9333 | Cell: 513.490.6881

PROFESSIONAL BACKGROUND

Tryfon Christoforou is an experienced commercial broker specializing in multifamily real estate and is a partner of 3CRE Advisors. He brings broad experience in commercial real estate tohis work – in addition to multifamily properties, his background includes mortgages, investment, and ownership of investment property.

By leveraging his diverse work experience in real estate to bring every client the best return possible, Tryfon has established himself as a top performer.

Tryfon has built a reputation as a service-oriented broker who is committed to personally guiding his clients through every phase of the real estate transaction process from start to finish.He has built long-term relationships with clients based on collaboration, hard work, an ethical approach, and dedication to a step-by- step method to working with every investor tomaximize results.

Tryfon Co-founded 3CRE Advisors with partner Michael Costantini to bring clients a tailored, knowledgeable approach to forming and successfully executing their commercial real estateinvestment strategy.

3CRE have extensive experience in local and regional Midwest markets and has an advantage in locating investment options on behalf of its clients as well as being able to list theirproperties on a national basis to the entire 100,000-strong brokerage and investment community via real-time syndication to major listing sites, social media, and email campaigns.

Tryfon holds a BSBA, Marketing from University of Cincinnati, Ohio. His affiliations include the National Apartment Association, NAR, OAR, and the Cincinnati and Dayton Board of Realtors.He was born in Melbourne, Australia and is of Greek heritage. He is a passionate world traveler and calls Cincinnati his home.

3CRE ADVISORS7815 Cooper Rd #C

Cincinnati, OH 45242513.490.6881

// ADVISOR BIO 1

Confidential Offering Memorandum ADVISOR BIOS // 23

OH #2018002440

BRIAN COYLE

Advisor

[email protected]: 513.745.9333 | Cell: 203.918.3944

PROFESSIONAL BACKGROUND

Brian Coyle is an advisor with 3CRE who specializes in multifamily assets. His unrivaled hustle, drive, and persistence have made him a pivotal part of a multifamily team responsible forover $100million dollars in sales. However, it’s his dedication and appreciation for customer relations that have made him an indispensable asset to 3CRE at such a young age.

Originally from Darien, Connecticut, he made his way to Cincinnati by way of Xavier University, where he is currently a stellar senior majoring in Marketing and Entrepreneurship. Hisstudies, as well as his life experience (he grew up in a circle of successful East Coast real estate developers) have equipped him with the knowledge and skills to locate, facilitate, and closehigh-value commercial real estate deals with confidence far beyond his years.

His specialties include helping investors with the process of acquiring and selling multifamily investments. When he isn’t at work helping investors close commercial deals, he enjoys,golfing, boating, and fishing on the Gulf Coast.

EDUCATION

Xavier University

MEMBERSHIPS

Ohio Board of RealtorsCommercial Real Estate Council of Greater Cincinnati

3CRE ADVISORS7815 Cooper Rd #C

Cincinnati, OH 45242513.490.6881

// ADVISOR BIO 2

brian coyle michael costantini · xenia is a friendly town, and is known for its hospitality. with...

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