Building Your Wealth Through Apartment

Investments

DESERT GARDENS APARTMENTS1463-1683 S. 5th Street, El Centro, CA 92243

Ricardo Lopez - CalBRE#01936528 - (619) 736-0201 - ricardolopez@aciapartments.com

©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to

square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

Building Your Wealth Through

Apartment Investments

1463-1683 S. 5th Street, El Centro, CA 92243

TABLE OF CONTENTS

Property Overview - 1

Photographs- 2

Overhead Map- 4

Area Description - 5

Sales Comparables - 7

Rent Comparables - 10

Executive Summary - 14

1463-1683 S. 5TH ST

THE OPPORTUNITY

©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to

square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

Desert Gardens is a 54 unit multi-family property set across

two contiguous parcels totaling just over 2 acres and nearly

spanning a full city block in El Centro, CA.

One parcel contains (1) 8 unit building and the other parcel

contains the remaining 46 units set across 8 buildings. Built in

1953 and remodeled in 2018, Desert Gardens consists of (12)

1br-1ba, (39) 2br-1ba and (3) 3br-1ba units. There are 37

single car garages, 12 off-street spaces and ample street

parking. Tenants enjoy spacious floorplans the majority of

which have updated with new countertops, kitchen

cabinets, and laminate flooring. Each unit has its own HVAC

system and hot water heater.

There is a community pool onsite and shared laundry rooms

located in each building. Units are separately metered for

gas and electric while each building is separately metered

for water. Desert Gardens is conveniently located in the

heart of the city only half a mile from Interstate 8. The current

owner has done significant capital improvements including

installing all new vinyl windows, painting exteriors, replacing

and remodeling the garages and doors, updated

plumbing/electrical in laundry rooms, adding and replacing

new equipment washer/dryers, re-plastering the pool and

installing many new HVAC systems. The property is well

maintained and always in demand to rent.

Building Your Wealth Through

Apartment Investments

1463-1683 S. 5th Street, El Centro, CA 92243

PROPERTY OVERVIEW

©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to

square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

Building Your Wealth Through

Apartment Investments

1463-1683 S. 5th Street, El Centro, CA 92243

PHOTOGRAPHS

©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to

square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

Building Your Wealth Through

Apartment Investments

1463-1683 S. 5th Street, El Centro, CA 92243

PHOTOGRAPHS

©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to

square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

Building Your Wealth Through

Apartment Investments

1463-1683 S. 5th Street, El Centro, CA 92243

OVERHEAD MAP

EL CENTRO - A CITY OF GOVERNMENT & INDUSTRY

©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to

square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

El Centro is the center of one of Southern California’s most promising new commercial and industrial

regions.

There are two international border crossings nearby for commercial and noncommercial vehicles.

Covering 11.019 square miles is the largest city in Imperial County.

Since the early 1980s the two largest employment sectors in the El Centro labor market area were

Government and Wholesale/Retail Trade, reflecting El Centro’s emerging role as a regional

administrative and commercial center.

As of 2009 the employment of El Centro residents is dominated by the local government, California state

government, and federal government.

Building Your Wealth Through

Apartment Investments

1463-1683 S. 5th Street, El Centro, CA 92243

AREA DESCRIPTION

2000 2010 2020

37,835 42,598 44,120

30 31.6 32.9

$33,161 $37,000 $46,457

12,263 13,108 14,476

Female Male

19,243 18,592

21,878 20,720

22,392 21,686

<5 5-18 35-64 65>

N/A 33.60% 57.10% 9.30%

N/A 29.70% 59.60% 10.70%

8.30% 29.80% 48.70% 13.20%

All Housing Units:*

2000 2010 2020

11,499 13,108 14,476

Source: Census.gov

Historical Housing Units

©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to

square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

Demographic

Population

Median Age

Median Household Income

Total Housing Units

Median Age: 32.9

Gender:*

2000

2010

2019 (E)

Age:*

2000

2010

2019 (E)

Household Income - 2020

Median Age: 30

Median Age: 31.6

Building Your Wealth Through

Apartment Investments

1463-1683 S. 5th Street, El Centro, CA 92243

AREA DEMOGRAPHICS

SUBJECT 1 2

ADDRESS1463-1683 S. 5th St

ADDRESS699 Wake Ave

ADDRESS2075-85 Cottonwood Cir

92243

$3,900,000

92243 92243

YR BUILT 1953 Renov. 2018 YR BUILT 2005 YR BUILT

PRICE $5,049,000 PRICE $9,600,000 PRICE

37,520

PRICE/UNIT $93,500 PRICE/UNIT $128,000 PRICE/UNIT $86,666

1975

UNITS 54 UNITS 75 UNITS 45

$/SF $138.44 $/SF $134.74 $/SF

BLDG/SF 89,543 BLDG/SF 71,250 BLDG/SF

COE N/A COE 7/31/2020 COE 5/5/2020

$103.94

CAP RATE % 6.03% CAP RATE % 6.35% CAP RATE % N/A

UNIT MIX UNIT MIX UNIT MIXGRM 9.91 GRM N/A GRM N/A

12 - 1Br-1Ba 16 - 1 Br-1BA 11 - 1Br-1Ba

38 - 2Br-1Ba 50 - 2BR-2BA 24 - 2Br-1BA

9 - 3BR-2BA 10-2Br-2BA

3 - 3Br-1Ba

1 - 2Br-1Ba - Onsite Mngr

©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to

square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

Building Your Wealth Through

Apartment Investments

1463-1683 S. 5th Street, El Centro, CA 92243

SALES COMPARABLES

Z

3 - 4Br-2Ba

©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to

square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

17 - 3Br-2Ba

22 - 2Br-1Ba 16 - 2Br-2Ba

40 - 2Br-1Ba 1 - STUDIO 1 - STUDIO

6 - 1Br-1Ba 49 - 1Br-1Ba

UNIT MIX UNIT MIX UNIT MIXGRM N/A GRM N/A GRM N/A

CAP RATE % 5.60% CAP RATE % 5.70% CAP RATE % 6.70%

COE 9/5/2019 COE 8/30/2019 COE 8/21/2019

$81.48

$/SF $109.59 $/SF $101.55 $/SF

BLDG/SF 12,410 BLDG/SF 38,600 BLDG/SF 54,386

PRICE/UNIT $34,000 PRICE/UNIT $80,000 PRICE/UNIT $67,140

1970

UNITS 40 UNITS 49 UNITS 66

YR BUILT 1978 YR BUILT 1971 YR BUILT

PRICE $1,360,000 PRICE $3,920,000 PRICE $4,431,300

92243 92243

3 4 5

ADDRESS231 Canal Rd

ADDRESS480 Aurora Dr

ADDRESS1507 W Barbara Worth Dr

92227

Building Your Wealth Through

Apartment Investments

1463-1683 S. 5th Street, El Centro, CA 92243

SALES COMPARABLES

S) 1463-1683 S. 5th St 1) 2)

3) 4) 5)

©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to

square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

MAP LEGEND

699 Wake Ave 2075-85 Cottonwood Cir

231 Canal Rd 480 Aurora Dr 1507 W Barbara Worth Dr

Building Your Wealth Through

Apartment Investments

1463-1683 S. 5th Street, El Centro, CA 92243

SALES COMPARABLES MAP

1 2 3

ADDRESS480 Aurora Dr

ADDRESS699 Wake Ave

ADDRESS2085 Cottonwood Cir

92243

1 Bedroom/1 Bathroom

92243 92243

RENT $775 RENT $1,075 RENT

UNIT MIX 1 Bedroom/1 Bathroom UNIT MIX 1 Bedroom/1 Bathroom UNIT MIX

PRICE/SQFT $1.46 PRICE/SQFT $1.47 PRICE/SQFT $1.15

$750

SQFT 530 SQFT 730 SQFT 652

HIGHLIGHTS HIGHLIGHTS HIGHLIGHTS

On-site Laundry Laundry Facilities

Pool

©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to

square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

Trash Removal

Pool

Parking

No Pets

Pool and Spa

Laundry Service

Building Your Wealth Through

Apartment Investments

1463-1683 S. 5th Street, El Centro, CA 92243

RENT COMPARABLES - 1 BD

Z

©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to

square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

Pool

Laundry

HIGHLIGHTS

Gated and Covered Parking

PRICE/SQFT $1.36

SQFT 700

RENT $950

UNIT MIX 1 Bedroom/1 Bathroom

4

ADDRESS1507 Barbara Worth Dr

92243

Building Your Wealth Through

Apartment Investments

1463-1683 S. 5th Street, El Centro, CA 92243

RENT COMPARABLES - 1 BD

Z

1 2 3

ADDRESS480 Aurora Dr

ADDRESS699 Wake Ave

ADDRESS2085 Cottonwood Cir

92243

UNIT MIX 2 Bedroom/1 Bathroom UNIT MIX 2 Bedroom/2 Bathroom UNIT MIX 2 Bedroom/1 Bathroom

92243 92243

$850

SQFT 710 SQFT 960 SQFT 848

RENT $850 RENT $1,225 RENT

HIGHLIGHTS HIGHLIGHTS HIGHLIGHTS

PRICE/SQFT $1.20 PRICE/SQFT $1.28 PRICE/SQFT $1.00

Pool No Pets Pool

Parking Laundry Service Trash Removal

On-site Laundry Pool and Spa Laundry Facilities

©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to

square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

Building Your Wealth Through

Apartment Investments

1463-1683 S. 5th Street, El Centro, CA 92243

RENT COMPARABLES - 2 BD

Z

©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to

square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

Garages

Pool Microwave

Laundry Washer and Dryer

HIGHLIGHTS HIGHLIGHTS

Gated and Covered Parking Dishwashers

PRICE/SQFT $1.36 PRICE/SQFT $1.37

SQFT 700 SQFT 800

RENT $950 RENT $1,095

UNIT MIX 2 Bedroom/1 Bathroom UNIT MIX 2 Bedroom/1 Bathroom

92243

4 5

ADDRESS1507 Barbara Worth Dr

ADDRESS2095 Cottonwood Cir

92243

Building Your Wealth Through

Apartment Investments

1463-1683 S. 5th Street, El Centro, CA 92243

RENT COMPARABLES - 2 BD

Z

1 2

ADDRESS480 Aurora Dr

ADDRESS699 Wake Ave

92243

UNIT MIX 3 Bedroom/2 Bathroom UNIT MIX 3 Bedroom/2 Bathroom

92243

SQFT 950 SQFT 1130

RENT $1,000 RENT $1,325

HIGHLIGHTS HIGHLIGHTS

PRICE/SQFT $1.05 PRICE/SQFT $1.17

On-site Laundry Pool and Spa

Pool No Pets

Parking Laundry Service

©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to

square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

Building Your Wealth Through

Apartment Investments

1463-1683 S. 5th Street, El Centro, CA 92243

RENT COMPARABLES - 3 BD

Z

S) 1463-1683 S. 5th St 1) 2)

3) 4) 5) 2095 Cottonwood Cir1507 W Barbara Worth Dr

©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References

to square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

AVERAGE RENT - 1 BEDROOM

MAP LEGEND

AVERAGE RENT - 2 BEDROOM AVERAGE RENT - 3 BEDROOM

$888 $994 $1,163

480 Aurora Dr 699 Wake Ave

2075-85 Cottonwood Cir

Building Your Wealth Through

Apartment Investments

1463-1683 S. 5th Street, El Centro, CA 92243

RENT COMPARABLES MAP

City Zip Lot Size

1463-1683 S. 5th Street El Centro 92243 89,543

GRM Estimated

Current Market Current BLDG/SF

9.91 8.54 6.03% 36,470*

No. Rent Total Market Total Est. Sq.ft Actual Market

12 $698 $8,375 $775 $9,000 600 sq. ft. Mgt-Off Site $25,466 $29,565

38 $771 $29,314 $850 $32,300 685 sq. ft. Mgt-On Site $0 $2,880

1 $0 $0 $600 $600 685 sq. ft. Gas & Elec. $2,239 $2,239

3 $900 $2,700 $950 $2,850 880 sq. ft. Wrt & Swr $39,360 $39,360

Landscaping $5,478 $5,478

Trash $9,720 $9,720

Pest Control $2,771 $2,771

Maintenance $27,000 $27,000

Miscellaneous $2,000 $2,000

Insurance $10,065 $10,065

Taxes $56,609 $56,609

Pool $5,000 $5,000

54 Actual $40,389 Market $45,050

Garage Rental Income: 37 single car garages $1,610 $3,700

Laundry Income $365 $365 Total $185,708 $192,687

Closet Rental Income: 16 storage closets $80 $160

Total Monthly Other Income $2,055 $4,225 Total Per Est Sq Ft: $5.09 Total Per Est Sq Ft: $5.28

Total Per Unit: $3,439 Total Per Unit: $3,568

Total Rental & Other Income $42,444 $49,275 Total Per GSI: 36% Total Per GSI: 38%

Annual Operating Proforma

Down Payment 25% Amount $1,262,250

Gross Rental Income Interest Rate 4.25%

Plus Other Income # of Years Amortized Over 30

Gross Scheduled Income Proposed Loan Amount $3,786,750

Less: Vacancy Factor 4% Loan Points

Gross Operating Income Other Loan Costs $3,500

Less: Operating Expenses Debt Coverage Ratio Current 1.36 Market 1.69

Net Operating Income

Less: First TD Payments

Name: Ricardo Lopez, Senior Associate

Pre-Tax Cash Flow Phone: 619-736-0201

Cash On Cash Return CalBRE# 0193628

Principal Reduction Email: ricardolopez@aciapartments.com

Total Potential Return 2635 Camino Del Rio South #300, San Diego, CA, 92108

Add'l Capital for Repairs (1st Year)

Acquisition Costs

Financing Costs

Down Payment

Total 1st Year Cost©2020 Apartment Consultants, Inc. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to

square footage are approximate. Buyer must verify the information and bears all risk for any inaccuracies.

Property Description

$0 $0 Desert Gardens is a 54 unit multi-family property set across two contiguous parcels totaling just over 2 acres

and nearly spanning a full city block in El Centro, CA. One parcel contains (1) 8 unit building and the other

parcel contains the remaining 46 units set across 8 buildings. Built in 1953 and remodeled in 2018, Desert

Gardens consists of (12) 1br-1ba, (39) 2br-1ba and (3) 3br-1ba units. There are 37 single car garages, 12 off-

street spaces and ample street parking. Tenants enjoy spacious floorplans the majority of which have updated

with new countertops, kitchen cabinets, and laminate flooring. Each unit has its own HVAC system and hot

water heater.

$5,000 $5,000

$3,500 $3,500

$1,262,250 $1,262,250

$63,840 $63,840

11.4% 17.1%

$1,270,750 $1,270,750

Contact Information

6.35% 12.08%

$80,686 $153,446

($223,542) ($223,542)

$185,708 $192,687

$304,228 $376,989

$509,323 $591,300

$19,387 $21,624

$489,937 $569,676

Actual Market

$484,663 $540,600

$24,660 $50,700

Financing Information

Miscellaneous

Insurance

Taxes

Pool

Total

City Trash Cans

Pest Control

Maintenance

2br-1ba-Onsite Mngr Gas & Elec.

3br-1ba Wrt & Swr

Landscaping

2br-1ba Mgt-On Site

CAP Rate %

Price Market $ / Unit $ / Sq Ft

$5,049,000 7.47% $93,500 $138.44

Estimated Average Monthly Income Analysis Estimated Operating Expenses

Floor Plan

1br-1ba Mgt-Of Site

54 CA 1953 Renov. 2018 053-552-005-000 & 053-552-013-000

# Units Address State Yr Built (Aprx.) APN

Building Your Wealth Through

Apartment Investments

1463-1683 S. 5th Street, El Centro, CA 92243

CASH FLOW SHEET

2635 Camino Del Rio South, Suite 300

San Diego, CA 92108

Phone: 619.299.3000 Fax: 619.295.3737

Website: http://aciapartments.com

Apartment Consultants Inc. (ACI) is the most successful income property brokerage firm in San Diego County.Since 1982, we have

specialized in apartment and investment property transactions, and maintained a solid performance despite changing economic cycles. With an

average of more than 140 closed escrows per year, ACI has closed more San Diego County income property escrows than any other firm in the

county new to apartment investing or an experienced

investor looking to upgrade your portfolio, ACI is the right choice to achieve your long-term investment goals.

Ricardo Lopez - Senior Associate

Phone: 619.736.0201

Email: ricardolopez@aciapartments.com