excellent multifamily investment opportunity · payroll $43,318 $746.00 contractor $3,193 $55.00...

Associate [email protected]

Kristi Lord

Managing [email protected]

Benjamin Davis

Managing [email protected]

Raymond Lord

PROPERPROPERTTY HIGHLIGHTSY HIGHLIGHTS

Excellent Investment Property

Well Located

Significant Capital Improvements

Strong Occupancy

PRESENTED BPRESENTED BYY::

FOR SALE | MULTI-FAMILY

All SVN® Offices Independently Owned & Operated. The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITY5137 East 47th Street | Tulsa, OK 74135

EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITY | 58 UNITS | TULSA, OK

All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

DISCLAIMER

The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used forany other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent of theSVN® Advisor or Property Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property.

The only party authorized to represent the Owner in connection with the sale of the Property is the SVN Advisor listed in this proposal, and no other person isauthorized by the Owner to provide any information or to make any representations other than contained in this Offering Brochure. If the person receiving thesematerials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to the SVN Advisor.

Neither the SVN Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the informationcontained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future representation of the Property. ThisOffering Brochure may include certain statements and estimates with respect to the Property. These Assumptions may or may not be proven to be correct, andthere can be no assurance that such estimates will be achieved. Further, the SVN Advisor and the Owner disclaim any and all liability for representations orwarranties, expressed or implied, contained in or omitted from this Offering Brochure, or any other written or oral communication transmitted or made availableto the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fully executed anddelivered Real Estate Purchase Agreement between it and Owner.

The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or the SVN Advisor nor any oftheir officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this Offering Brochureare advised and encouraged to conduct their own comprehensive review and analysis of the Property.

This Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, toreject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with anyentity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Offering Brochureor making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable toOwner, in Owner’s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and agreed to releasethe Owner and the SVN Advisor from any liability with respect thereto.

To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any suchcorrespondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaserproceeds at its own risk.


TABLE OF CONTENTS

All SVN® Offices Independently Owned & Operated.The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

1. PROPERTY INFORMATION 4

2. LOCATION INFORMATION 8

3. FINANCIAL ANALYSIS 10

4. DEMOGRAPHICS 18

5. ADDITIONAL INFORMATION 22

5137 East 47th Street | Tulsa, OK 74135

EXCELLENT MULTIFAMILY INVESTMENT OPPORTUNITYFOR SALE | MULTI-FAMILY


1 PROPERTY INFORMATION

All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. 5

PROPERPROPERTTY OY OVERVERVIEWVIEW

SVN OAK Realty Advisers is pleased to offer Old South Apartments. This 58 unit apartment communityhas undergone significant capital improvements over the past two years allowing an investor to takeadvantage of the stable occupancy and improving market performance in the area. The property is welllocated and has an assumable Freddie Mac Non Recourse Loan at a low interest rate fixed for anadditional eight years.


• Excellent Investment Property

• Well Located

• Significant Capital Improvements

• Strong Occupancy


SECTION 1 | PROPERTY INFORMATION

Executive Summary

PROPERPROPERTTY SUMMARY SUMMARYYSALE PRICE: $2,150,000

NUMBER OF UNITS: 58

CAP RATE: 8.34%

NOI: $179,407

LOT SIZE: 2.38 Acres

BUILDING SIZE: 49,362 SF

CEILING HEIGHT: 8.0 FT

YEAR BUILT: 1967

RENOVATED: 2016

ZONING: RS-3

MARKET: Tulsa

SUB MARKET: Mid-Town

CROSS STREETS: 51st & Yale



• Excellent Investment Property

• Well Located

• Significant Capital Improvements

• Strong Occupancy

• Brand New Roof with 25 Year Warranty

• Great Unit Mix of 1, 2 & 3 Bed Units

• Upside potential with minimal unit improvements•



Complete Highlights



Property Overview


Construction

Year Built: 1967Number of Stories: 2

Foundation: SlabParking Surface: New 2" Overlay AsphaltNumber of Units: 58

Roof: New 25 Year Warranty Asphalt Shingle

Physical Description

Property Name: Old South ApartmentsType of Ownership: Fee Simple / LLC

APN: 38825-93-27-10400Lot Size: 2.38 AC

Building Size: 49,362 SFRentable SF: 48,931 SF

Building Class: C+Zoning: RS-3

Parking Spaces: 87Parking Ratio: 1.68

Interior Finish

Walls: DrywallCeilings: Acostical Drywall

Floor Coverings: Mixture of Carpet and Faux Wood VynalRestrooms: Per unit

Corridors: common open




2 LOCATION INFORMATION



SECTION 2 | LOCATION INFORMATION

Location Maps




3 FINANCIAL ANALYSIS


SECTION 3 | FINANCIAL ANALYSIS

Financial Summary


INVESINVESTMENT OTMENT OVERVERVIEWVIEW

Price $2,150,000Price per Unit $37,068GRM 5.6CAP Rate 8.3%Cash-on-Cash Return (yr 1) 14.08 %Total Return (yr 1) $101,441Debt Coverage Ratio 1.76

OPERAOPERATING DTING DAATTAA

Gross Scheduled Income $386,430Other Income $27,193Total Scheduled Income $413,623Vacancy Cost $59,489Gross Income $354,134Operating Expenses $174,236Net Operating Income $179,407Pre-Tax Cash Flow $77,418

FINANCING DFINANCING DAATTAA

Down Payment $550,000Loan Amount $1,600,000Debt Service $101,989Debt Service Monthly $8,499Principal Reduction (yr 1) $24,023

INCINCOME SUMMAROME SUMMARYY PER UNITPER UNIT

Gross Potential Income $386,430 $6,662.00Less Vacancy & Bad Debt -$59,490 -$1,026.00Laundry Income $6,819 $117.00Other Income $18,580 $320.00Misc Other Income $1,795 $30.00

GROSS INCOME $354,134 $6,105.00

EXPENSE SUMMAREXPENSE SUMMARYY PER UNITPER UNIT

Advertising $519 $8.00Insurance $24,540 $423.00Landscaping $2,180 $37.00Legal & Professional $2,298 $39.00License & Permits $405 $6.00Boiler & Chiller $855 $14.00Maintenance $100 $1.00Maintenance Supplies $11,198 $193.00Unit Turn / Make Ready $18,720 $322.00Office Supplies $310 $5.00Expense "other" $2,294 $39.00Resident Activities $647 $11.00Payroll $43,318 $746.00Contractor $3,193 $55.00Security $749 $12.00Pool $2,326 $40.00Utilities $39,640 $683.00Taxes $20,944 $361.00

GROSS EXPENSES $174,236 $3,004.00




Income & Expenses

INCINCOME SUMMAROME SUMMARYY PER UNITPER UNIT

NET OPERATING INCOME $179,407 $3,093.00




Income & Expenses

Old South Apartments

Value Proforma Analysis

Tulsa, OK 74135


5137 E 47th Pl S

58 1,967

Proforma Value - Based on Actuals

$386,430 $386,430

+

$32,203 $6,662.59 93.43%

$0

+

$0 $0 $0.00

Laundry Income $6,818 $6,818 $568

- Collections

$117.55 1.65%

Other Income $18,580

Price

$18,580

CAP Rate

$1,548

IRR All Cash

$320.34

IRR Leveraged

4.49%

Misc $1,778 $1,778 $148 $30.66 0.43%

$413,606 $413,606 $34,467 $7,131.14

$6,105.68

Actual

$48,723 $48,723 $4,060 $840.05 11.78%

- Concessions

$10,750 $10,754 $896 $185.41 2.60%

- Property Tax

$354,133 $354,129 $29,511 85.62%

$153,731 $153,741 $12,812 $2,650.71 37.17%

$20,994

Gross Rents

$20,994

+

$1,750

= Gross Income

$361.97

- Vacancy

5.08%

= Effective Inc.

$0

- Expenses

$0- Reserves $0

= NOI

$0.00 0.00%

$179,408 $179,394 $14,950 $3,093.01 43.37%

$2,150,000

8.34%

15.30%

33.59%

Proforma Total Monthly Annual/Unit %

0.00%Units Year Built

Price/Unit $37,069

Price/SF $43.56

© 2005-2006 by REALHOUND.comPrinted 2/2/2017 from Realhound ClassicThe information furnished is from sources deemed reliable but no guarantee is made as to its accuracy.


Profoma Value Grid - Based on Actuals

5.84%

6.34%

6.84%

7.34%

7.84%

$3,069,758

$2,827,814

$2,621,221

$2,442,759

$2,287,049

Value

$52,927

$48,755

$45,193

$42,117

$39,432

$/Unit

$62.19

$57.29

$53.10

$49.49

$46.33

$/SF

7.94

7.32

6.78

6.32

5.92

GRM

$2,150,000 $37,069 $43.56 5.568.34%

5.8%

6.3%

6.8%

7.3%

7.8%

NPV

8.3%

11.3%

12.1%

13.0%

13.7%

14.5%

Cash on Cash

15.3%

7.3%

9.0%

10.8%

12.6%

14.3%

Cash on Cash

16.1%

$2,199,993

$2,026,600

$1,878,541

$1,750,644

$1,639,052

Loan Amount

$1,540,833

$869,765

$801,214

$742,679

$692,115

$647,997

Equity

$609,167

CAPIRR IRR

Unleveraged Leveraged

$955,830

$1,030,133

$1,090,747

$1,140,930

$1,183,012

$1,218,700

21.5%

23.9%

26.3%

28.7%

31.1%

33.6%

8.84%

9.34%

9.84%

10.34%

10.84%

$2,028,448

$1,919,904

$1,822,387

$1,734,297

$1,654,331

$34,973

$33,102

$31,420

$29,902

$28,523

$41.09

$38.89

$36.92

$35.13

$33.51

5.25

4.97

4.72

4.49

4.28

8.8%

9.3%

9.8%

10.3%

10.8%

16.1%

16.8%

17.6%

18.4%

19.1%

17.9%

19.6%

21.4%

23.2%

24.9%

$1,453,721

$1,375,931

$1,306,044

$1,242,913

$1,185,604

$574,727

$543,973

$516,343

$491,384

$468,727

$1,249,268

$1,275,683

$1,298,692

$1,318,876

$1,336,698

36.1%

38.8%

41.5%

44.3%

47.2%



Profoma Value Expenses - Based on Actuals

Description ActualAnnual $/SF

Proforma Annual $

Actual Annual $

Proforma Annual $/SF

ActualAnnual $/Unit

Proforma Annual $/Unit

$0.07 $3,251 $3,251$0.07$56 $56Administrative Expenses$0.01 $518 $518$0.01$9 $9Advertising & Marketing$0.00 $116 $116$0.00$2 $2Business License$0.06 $3,193 $3,193$0.06$55 $55Contract Services$0.50 $24,540 $24,540$0.50$423 $423Insurance$0.04 $2,180 $2,180$0.04$38 $38Landscape Maintenance$0.05 $2,297 $2,297$0.05$40 $40Legal & Accounting$0.38 $18,719 $18,719$0.38$323 $323Make Ready$0.01 $463 $463$0.01$8 $8Miscellaenous$0.88 $43,381 $43,381$0.88$748 $748On-Site Management & Staff$0.02 $1,160 $1,160$0.02$20 $20Pest Control$0.05 $2,326 $2,326$0.05$40 $40Pool Maintenance$0.23 $11,198 $11,198$0.23$193 $193Repairs & Maintenance$0.02 $749 $749$0.02$13 $13Security$0.80 $39,640 $39,640$0.80$683 $683Utilites



Profoma Value Financing - Based on Actuals

$1,003,333 30 0 Yes 46.7%

$537,500 30 0 No 25.0%

4.75%

4.75%

4.75%

4.75%

4.75%

4.75%

4.75%

4.75%

4.75%

4.75%

4.75%

4.75%

4.75%

4.75%

4.75%

4.75%

4.75%

4.75%

4.75%

4.75%

$4,499

2019$4,157

$4,456

2018 $4,014

$4,181

$4,347

$4,114

$4,328

$4,413

4.750% 5.125%

$3,8132017

2023

$4,279

$3,972

$4,097$4,139

$4,264$4,306

$4,072

$3,751

$4,242$4,285

$4,370$3,906

4.500% 4.625% 5.000%

$4,060

$3,774

$3,853

$1,013,333$3,731

$3,892

$3,972

$3,575

2021

2022

2025

$4,051

$4,130$1,033,333

$4,169

$3,873$3,914

$953,333

$4,035

2026

$3,725

$963,333

$4,157$4,198

$3,763

$3,838

$4,239

$3,800

$3,875$3,913

$4,056

$3,950

$3,476 $3,674

First Loan

Second Loan

$4,222

First Loan

Second Loan

$4,389

$3,512

Amount Duration (Year Fees (Points) Interest Only

Interest Rates

Terms

$4,200$3,549$3,585

$3,867

$3,713$973,333

$3,790

$3,944

$3,828

4.375%

$983,333

$3,658

4.875%

$3,622

$4,021

$3,694

$3,804$3,983

$3,932$1,003,333

$4,011

$993,333

2024

$3,954

2020

$3,767

$3,650$3,613

$4,076

$4,090

$3,840

$3,688

$1,053,333

$1,023,333

$1,043,333

First Loan

$4,117

% LTV

$3,995

Initial Payment Matrix



Profoma Value Increases - Based on Actuals

Fiscal Year

Rent Growth

Concessions Other Income Growth

Vacancy Collection Loss

Expenses Growth

Property Tax Growth

Reserves Growth

Capital Expenses

2018 3.50% 1.25% 2.75% 5.00% 1.25% 1.75% 2.25% 5.00% $7,500

2019 3.00% 1.50% 3.00% 10.00% 2.00% 1.75% 2.50% 5.00% $150,000

2020 3.00% 1.50% 3.00% 10.00% 2.00% 1.75% 2.50% 5.00% $35,000

2021 3.50% 1.25% 2.75% 5.00% 1.25% 1.75% 2.25% 5.00% $7,500

2022 3.00% 1.50% 3.00% 10.00% 2.00% 1.75% 2.50% 5.00% $0

2023 3.50% 1.25% 2.75% 5.00% 1.25% 1.75% 2.25% 5.00% $7,500

2024 3.50% 1.25% 2.75% 5.00% 1.25% 1.75% 2.25% 5.00% $7,500

2025 3.00% 1.50% 3.00% 10.00% 2.00% 1.75% 2.50% 5.00% $0

2026 3.50% 1.25% 2.75% 5.00% 1.25% 1.75% 2.25% 5.00% $7,500

2027 3.00% 1.50% 3.00% 10.00% 2.00% 1.75% 2.50% 5.00% $0

2028 3.50% 1.25% 2.75% 5.00% 1.25% 1.75% 2.25% 5.00% $7,500

2029 3.00% 1.50% 3.00% 10.00% 2.00% 1.75% 2.50% 5.00% $0

2030 3.50% 1.25% 2.75% 5.00% 1.25% 1.75% 2.25% 5.00% $7,500

2031 3.00% 1.50% 3.00% 10.00% 2.00% 1.75% 2.50% 5.00% $0

2032 3.50% 1.25% 2.75% 5.00% 1.25% 1.75% 2.25% 5.00% $7,500

2033 3.00% 1.50% 3.00% 10.00% 2.00% 1.75% 2.50% 5.00% $0

2034 3.50% 1.25% 2.75% 5.00% 1.25% 1.75% 2.25% 5.00% $7,500

2035 3.00% 1.50% 3.00% 10.00% 2.00% 1.75% 2.50% 5.00% $0

2036 3.50% 1.25% 2.75% 5.00% 1.25% 1.75% 2.25% 5.00% $7,500

2037 3.00% 1.50% 3.00% 10.00% 2.00% 1.75% 2.50% 5.00% $0



Profoma Value Cash Flow - Based on Actuals

2017 2019 2020 2021 2022 2023 2024 2025 20262018

$386,430 $413,953 $428,442 $443,437 $458,958 $475,021 $491,647 $508,855 $526,664RENT INCOME $399,955- CONCESSIONS $0 $5,174 $5,356 $5,543 $5,737 $5,938 $6,146 $6,361 $6,583$4,999+ OTHER INCOME $27,176 $28,691 $29,480 $30,291 $31,124 $31,980 $32,859 $33,763 $34,691$27,923

$413,606 $437,470 $452,567 $468,185 $484,345 $501,063 $518,361 $536,257 $554,773= GROSS INCOME $422,879- VACANCY $48,723 $21,874 $22,628 $23,409 $24,217 $25,053 $25,918 $26,813 $27,739$21,144- COLLECTIONS $10,754 $5,468 $5,657 $5,852 $6,054 $6,263 $6,480 $6,703 $6,935$5,286

$354,129 $410,128 $424,281 $438,924 $454,073 $469,747 $485,963 $502,741 $520,099= EFF INCOME $396,449- EXPENSE $153,741 $159,169 $161,954 $164,789 $167,672 $170,607 $173,592 $176,630 $179,721$156,431- PROPERTY TAX $20,994 $21,949 $22,443 $22,948 $23,465 $23,992 $24,532 $25,084 $25,649$21,466- RESERVES $0 $0 $0 $0 $0 $0 $0 $0 $0$0- CAPITAL EXPENSE $35,000 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500 $7,500$7,500

$144,394 $221,510 $232,383 $243,687 $255,436 $267,648 $280,338 $293,526 $307,229= NET INCOME $211,051($2,005,606) $221,510 $232,383 $243,687 $255,436 $267,648 $280,338 $293,526 $3,349,444CASH FLOW $211,051

- LOAN PAYMENTS/FEES $81,305 $81,305 $81,305 $81,305 $81,305 $81,305 $81,305 $81,305 $81,305$81,305($546,077) $140,205 $151,079 $162,382 $174,131 $186,343 $199,034 $212,222 $1,830,923= LEVERAGED CASH FLOW $129,747

$1,540,833 $1,523,843 $1,514,724 $1,505,162 $1,495,136 $1,484,624 $1,473,601 $1,462,043 $1,449,924BEGINNING LOAN BALANCE $1,532,539$1,532,539 $1,514,724 $1,505,162 $1,495,136 $1,484,624 $1,473,601 $1,462,043 $1,449,924 $1,437,216ENDING LOAN BALANCE $1,523,843




Rent Roll


TENANTTENANTNAMENAME

UNITUNITNUMBERNUMBER

UNITUNITBEDBED

UNITUNITBBAATHTH

UNITUNITSIZE (SIZE (SF)SF)

LEALEASESESSTTARARTT

LEALEASESEENDEND

CURRENTCURRENTRENTRENT

CURRENTCURRENTRENT (RENT (PER SF)PER SF)

MARKETMARKETRENTRENT

SESECURITCURITYYDEPOSITDEPOSIT

101 2 1 850 1/13/2017 12/31/2017 $679 $0.80 $679 $200

102 2 1 850 7/28/2016 7/31/2017 $649 $0.76 $649 $200

103 2 1 850 7/8/2016 7/31/2017 $679 $0.80 $679 $200

104 2 1 850 02/24/2016 02/28/2017 $649 $0.76 $649 $200

105 2 1 850 11/29/2016 10/31/2017 $649 $0.76 $649 $200

106 2 1 850 01/09/2016 01/31/2017 $649 $0.76 $649 $200

107 2 1 850 11/30/2007 M to M $629 $0.74 $649 $225

108 2 1 850 08/04/2014 M to M $649 $0.76 $649 $200

109 2 1 850 01/20/2017 01/31/2018 $679 $0.80 $679 $200

110 2 1 850 05/06/2013 M to M $629 $0.74 $649 $200

111 2 1 850 01/20/2015 M to M $629 $0.74 $679 $150

112 2 1 850 08/12/2016 02/28/2017 $649 $0.76 $649 $200

113 2 1 850 06/15/2016 06/30/2017 $649 $0.76 $649 $0

114 2 1 850 05/04/2016 05/31/2017 $649 $0.76 $649 $200

115 2 1 850 08/10/2016 07/31/2017 $649 $0.76 $679 $200

116 2 1 850 12/12/2014 M to M $649 $0.76 $649 $200

117 2 1 850 04/19/2013 M to M $629 $0.74 $649 $200

118 2 1 850 08/02/2016 08/17/2017 $649 $0.76 $649 $200

119 2 1 850 01/27/2016 01/31/2017 $649 $0.76 $649 $200

120 2 1 850 $0 $0.00 $649 $0

121 2 1 850 10/07/2016 10/31/2017 $679 $0.80 $679 $200

122 2 1 850 01/17/2017 01/31/2018 $649 $0.76 $649 $200

123 2 1 850 02/01/2017 02/28/2018 $679 $0.80 $679 $200



Rent Roll




UNITUNITBEDBED

UNITUNITBBAATHTH



LEALEASESEENDEND





124 2 1 850 11/06/2016 11/31/2017 $649 $0.76 $649 $200

125 2 1 850 09/02/2016 09/30/2017 $649 $0.76 $679 $200

126 2 1 850 04/01/2016 04/30/2017 $649 $0.76 $649 $200

127 2 1 850 02/26/2013 M to M $629 $0.74 $649 $368

128 2 1 850 $0 $0.00 $649 $0

129 2 1 850 06/11/2013 M to M $629 $0.74 $649 $400

130 2 1 850 09/10/2016 09/30/2017 $649 $0.76 $649 $1

131 2 1 850 04/05/2012 M to M $625 $0.74 $649 $200

132 2 1 850 11/18/2016 11/30/2017 $649 $0.76 $649 $200

133 2 1 850 05/01/2016 05/31/2017 $679 $0.80 $679 $400

134 2 1 850 09/14/2016 09/30/2017 $649 $0.76 $649 $200

135 2 1 850 02/04/2013 M to M $649 $0.76 $649 $500

136 2 1 850 11/18/2015 M to M $649 $0.76 $649 $200

137 2 1 850 10/01/2016 M to M $679 $0.80 $679 $300

138 2 1 850 09/03/2016 09/30/2017 $649 $0.76 $649 $200

139 1 1 600 11/07/2016 11/30/2017 $500 $0.83 $500 $200

140 3 1 1,400 11/08/2016 11/30/2017 $897 $0.64 $897 $200

A-101 2 1 900 Manager Manager $0 $0.00 $679 $0

A-102 1 1 650 02/01/2016 M to M $575 $0.88 $575 $0

A-103 1 1 650 03/25/2014 M to Mo $565 $0.87 $575 $205

A-104 1 1 650 $0 $0.00 $575 $0

A-105 1 1 650 08/19/2016 08/30/2017 $575 $0.88 $575 $150

A-106 1 1 650 02/03/2011 M to M $565 $0.87 $575 $158



Rent Roll




UNITUNITBEDBED

UNITUNITBBAATHTH



LEALEASESEENDEND





A-107 1 1 650 11/15/2016 11/30/2017 $575 $0.88 $575 $150

A-108 1 1 650 08/19/2016 08/30/2017 $575 $0.88 $575 $150

A-109 2 1 900 11/19/2016 07/31/2017 $649 $0.72 $649 $0

A-110 1 1 650 09/01/2016 08/31/2017 $575 $0.88 $575 $0

A-111 1 1 650 12/01/2015 M to M $555 $0.85 $575 $0

A-112 1 1 650 12/17/2013 M to M $565 $0.87 $575 $150

A-113 1 1 650 05/03/2016 05/31/2017 $575 $0.88 $575 $150

A-114 1 1 650 01/25/2012 M to M $555 $0.85 $575 $150

A-115 1 1 650 03/24/2014 M to M $565 $0.87 $575 $150

A-116 1 1 650 10/19/2016 10/31/2017 $575 $0.88 $575 $100

A-117 2 1 900 04/01/2015 M to M $649 $0.72 $649 $200

TTootals/Atals/Avvereragesages 46,46,100100 $33,520$33,520 $0$0..7373 $36,386$36,386 $9$9,857,857



Unit Mix Summary


UNIT TUNIT TYPEYPE CCOUNTOUNT % T% TOOTTALAL SIZE (SIZE (SF)SF) RENTRENT RENTRENT/SF/SF MARKET RENTMARKET RENT DEPOSITDEPOSIT

Junior 1 1 1.7 520 $500 $0.96 $550 $250

1 + 1 14 24.1 677 $575 $0.85 $575 $300

2 + 1 39 67.2 900 $659 $0.73 $695 $350

2 + 1 (L) 3 5.2 936 $659 $0.70 $695 $350

3 + 1 1 1.7 13 $897 $69.00 $925 $400

TTootals / Atals / Avvereragesages 5858 100%100% 4747,,919919 $37$37,,125125 $0$0..7777 $38,$38,771515 $19$19,550,550

Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Total

IncomeAffordable Housing Income

$6,983.00 $6,534.00 $6,315.00 $6,015.00 $5,586.00 $6,071.00 $5,791.00 $5,778.00 $5,771.00 $4,522.00 $4,475.00 $3,932.00 $3,332.00 $71,105.00

Application Fee Income $50.00 $50.00

Cleaning and Maint Income $200.00 $200.00 $150.00 $550.00

Fee Income $0.00

Fee Income - Other $133.00 $133.00

Pet Rent Income $200.00 $200.00

Total for Fee Income $333.00 $333.00

Late Fee Income $50.00 $50.00 $150.00 $102.00 $4.00 $1.00 $57.00 $50.00 $2.00 $45.00 $1.00 $512.00

Laundry Income $826.00 $1,035.00 $1,067.50 $1,040.00 $1,151.00 $667.00 $614.00 $620.00 $624.00 $7,644.50

Other Income $9,225.00 $8,955.00 $400.00 $18,580.00

Rent Income $22,076.00 $23,445.00 $22,409.00 $24,316.25 $21,973.00 $23,420.00 $22,399.00 $20,409.00 $21,261.00 $19,974.00 $19,238.65 $21,137.00 $22,836.00 $284,893.90

Repairs Income $17.00 $17.00

Total Income $29,885.00 $31,064.00 $29,841.50 $31,421.25 $29,060.00 $29,793.00 $28,194.00 $26,188.00 $28,439.00 $34,385.00 $32,670.65 $26,134.00 $26,943.00 $384,018.40

ExpenseAdvertising $518.00 $518.00

Insurance $6,023.57 $4,975.14 $2,487.57 $2,487.57 $2,485.57 $1,013.48 $1,013.48 $1,013.48 $1,013.48 $1,013.48 $1,013.48 $24,540.30

Landscaping $100.00 $360.14 $220.00 $100.00 $200.00 $200.00 $400.00 $400.00 $300.00 $2,280.14

Legal and Professional F

$128.54 $379.54 $497.54 $522.54 $636.62 $133.00 $2,297.78

Licenses and Permits $205.00 $50.00 $150.00 $405.00

Maintenance $0.00

Boiler Chiller Maintenance $145.04 $145.04 $420.00 $145.04 $855.12

Maintenance - Other $100.00 $100.00

Total $100.00 $6,512.25 $599.54 $5,075.14 $2,632.61 $3,130.15 $2,690.57 $1,213.48 $1,786.02 $1,563.48 $2,070.10 $2,309.52 $1,313.48 $30,996.34

Maintenance SuppliesMaint Supplies Lighting $65.63 $65.63

Maint Supplies Locks and K

$2.03 $100.52 $68.25 $170.80

Maint Supplies Misc $81.12 $211.19 $16.24 $17.33 $325.88

Maint Supplies Plumbing $100.00 $608.00 $150.00 $111.28 $730.82 $718.72 $207.38 $225.00 $2,851.20

Maintenance Supplies - Oth

$949.03 $1,093.16 $786.56 $311.28 $975.56 $150.00 $1,895.21 $276.11 $1,447.79 $7,884.70

Total for Maintenance S li

$100.00 $1,640.18 $150.00 $488.62 $1,892.23 $786.56 $1,030.00 $1,199.18 $375.00 $1,895.21 $276.11 $1,447.79 $17.33 $11,298.21

Make ReadyMake Ready - Other $290.70 $290.70

MR Flooring $48.55 $295.00 $500.00 $600.00 $635.00 $195.00 $490.00 $2,763.55

MR Labor $1,080.00 $1,464.25 $1,249.25 $583.54 $1,452.32 $579.51 $740.16 $427.50 $1,923.75 $1,852.00 $175.00 $11,527.28

MR Labor Cleaning $335.00 $150.00 $150.00 $300.00 $300.00 $220.17 $285.00 $75.00 $495.00 $595.00 $2,905.17

MR misc $326.25 $326.25

MR Supplies Paint $302.27 $302.27 $302.27 $906.81


Generated 10/20/2016 5:28 PM Page 1 of 2

Total for Make Ready $0.00 $1,463.55 $1,916.52 $1,694.25 $592.97 $1,383.54 $1,752.32 $1,179.51 $1,595.33 $907.50 $2,488.75 $2,975.52 $770.00 $18,719.76

Office Supplies $57.50 $117.17 $50.97 $84.57 $310.21

Other Expenses $0.00

Other Expenses - Other $500.00 $774.00 $52.35 $357.65 $400.00 $1,060.07 $50.00 $400.00 $3,594.07

Resident Activities $223.37 $317.57 $36.02 $16.80 $53.23 $646.99

Total for Other E

$500.00 $997.37 $427.42 $357.65 $400.00 $1,060.07 $0.00 $86.02 $133.97 $400.00 $0.00 $104.20 $84.57 $4,551.27

Payroll $1,767.29 $5,247.79 $3,642.72 $3,480.51 $3,326.42 $3,334.60 $6,505.09 $3,653.34 $3,896.96 $4,550.00 $4,106.43 $6,862.50 $2,775.00 $53,148.65

Postage and Delivery $40.21 $40.21

Repairs $0.00

Repairs - Other $334.92 $334.92

Repairs by Contractor $1,162.81 $1,037.50 $180.00 $307.92 $325.00 $1,175.07 $180.00 $4,368.30

Total Payroll & Repairs $1,767.29 $5,622.92 $4,805.53 $3,480.51 $4,363.92 $3,514.60 $6,813.01 $3,978.34 $3,896.96 $4,550.00 $5,281.50 $7,042.50 $2,775.00 $57,892.08

Security $220.00 $500.00 $29.19 $749.19

Supplies $396.64 $440.47 $837.11

Swimming Pool $0.00

Swimming Pool - Other $162.33 $447.86 $512.37 $207.22 $159.36 $1,489.14

Total for Sec & Pool $0.00 $616.64 $500.00 $0.00 $162.33 $0.00 $0.00 $0.00 $888.33 $512.37 $207.22 $188.55 $0.00 $3,075.44

Taxes $1,013.48 $2,026.96 $1,013.48 $1,013.48 $1,013.48 $2,485.57 $2,485.57 $2,485.57 $2,485.57 $2,485.57 $2,485.57 $20,994.30

UtilitiesUtilities - Other $8,686.04 $8,806.14 $2,488.50 $11,892.55 $3,989.14 $6,029.27 $3,058.25 $4,848.98 $5,539.36 $3,643.01 $1,142.91 $60,124.15

Total for Utilities $0.00 $8,686.04 $8,806.14 $2,488.50 $11,892.55 $3,989.14 $6,029.27 $3,058.25 $4,848.98 $5,539.36 $3,643.01 $1,142.91 $0.00 $60,124.15

Total Expense $2,467.29 $26,552.43 $17,205.15 $15,611.63 $22,950.09 $14,877.54 $19,328.65 $13,200.35 $16,010.16 $17,853.49 $16,452.26 $17,696.56 $7,445.95 $207,651.55

Net Operating Income $27,417.71 $4,511.57 $12,636.35 $15,809.62 $6,109.91 $14,915.46 $8,865.35 $12,987.65 $12,428.84 $16,531.51 $16,218.39 $8,437.44 $19,497.05 $176,366.85


Unit Lease Start Lease End Bed/Bath Unit SizeMarket

RentRecurring

ChargesDeposits

Held

01 1/13/2017 12/31/2017 2 Bed/1 Bath 850 $679.00 $679.00 $200.0002 7/28/2016 7/31/2017 2 Bed/1 Bath 850 $649.00 $649.00 $200.0003 7/8/2016 7/31/2017 2 Bed/1 Bath 850 $679.00 $679.00 $200.0004 2/24/2016 2/28/2017 2 Bed/1 Bath 850 $649.00 $649.00 $200.0005 11/29/2016 10/31/2017 2 Bed/1 Bath 850 $649.00 $649.00 $200.0006 1/9/2016 month-to-month 2 Bed/1 Bath 850 $649.00 $649.00 $200.0007 11/30/2007 month-to-month 2 Bed/1 Bath 850 $649.00 $629.00 $225.0008 8/4/2014 month-to-month 2 Bed/1 Bath 850 $649.00 $649.00 $200.0009 1/20/2017 1/31/2018 2 Bed/1 Bath 850 $679.00 $679.00 $200.0010 5/6/2013 month-to-month 2 Bed/1 Bath 850 $649.00 $629.00 $200.0011 1/20/2015 month-to-month 2 Bed/1 Bath 850 $679.00 $629.00 $150.0012 8/12/2016 2/28/2017 2 Bed/1 Bath 850 $649.00 $649.00 $200.0013 6/15/2016 6/30/2017 2 Bed/1 Bath 850 $649.00 $649.00 $0.0014 5/4/2016 5/31/2017 2 Bed/1 Bath 850 $649.00 $649.00 $200.0015 8/10/2016 7/31/2017 2 Bed/1 Bath 850 $649.00 $679.00 $200.0016 12/12/2014 month-to-month 2 Bed/1 Bath 850 $649.00 $649.00 $200.0017 4/19/2013 month-to-month 2 Bed/1 Bath 850 $649.00 $629.00 $200.0018 8/2/2016 8/31/2017 2 Bed/1 Bath 850 $649.00 $649.00 $200.0019 1/27/2016 month-to-month 2 Bed/1 Bath 850 $649.00 $649.00 $200.0020 2 Bed/1 Bath 850 $649.00 $0.00 $0.0021 10/7/2016 10/31/2017 2 Bed/1 Bath 850 $679.00 $679.00 $200.0022 1/17/2017 1/31/2018 2 Bed/1 Bath 850 $649.00 $649.00 $200.0023 2/1/2017 2/28/2018 2 Bed/1 Bath 850 $679.00 $679.00 $200.0024 11/3/2016 11/30/2017 2 Bed/1 Bath 850 $649.00 $649.00 $200.0025 9/2/2016 8/31/2017 2 Bed/1 Bath 850 $649.00 $679.00 $200.0026 4/1/2016 3/31/2017 2 Bed/1 Bath 850 $649.00 $649.00 $200.0027 2/26/2013 month-to-month 2 Bed/1 Bath 850 $649.00 $629.00 $368.0028 2 Bed/1 Bath 850 $649.00 $0.00 $0.0029 6/11/2013 month-to-month 2 Bed/1 Bath 850 $649.00 $629.00 $400.0030 9/10/2016 9/30/2017 2 Bed/1 Bath 850 $649.00 $649.00 $1.0031 4/5/2012 month-to-month 2 Bed/1 Bath 850 $649.00 $625.00 $200.0032 11/18/2016 11/30/2017 2 Bed/1 Bath 850 $649.00 $649.00 $200.0033 5/1/2016 4/30/2017 2 Bed/1 Bath 850 $679.00 $679.00 $400.0034 9/14/2016 9/30/2017 2 Bed/1 Bath 850 $649.00 $649.00 $200.0035 2/4/2013 month-to-month 2 Bed/1 Bath 850 $649.00 $649.00 $500.00

Kat Fincel $0.00Heather Cooper, Stephen $0.00Rodney Dunbar $0.00

Antoinette Williams $0.00*Nancy Oglesby $0.00Michael Hassanzedah-Aski $0.00

Shari Throckmorton $0.00VACANT $0.00Virginia Chambers, Tiffany $0.00

Angel Swift $0.00Michael Murillo $0.00LaTonya Williams $0.00

Shirley Carter $0.00Tyler Wintheiser, Dustyn $0.00LaWana Melton $0.00

Thomas Corradina $0.00Ellen Swake, Russell $0.00VACANT $0.00

harold Bass $0.00*Wanda Lee $0.00Stephanie Bufalo $0.00

Michael Dubose, Amber $0.00Kenneth Webster $0.00Jayme Reed- Jones, $0.00

Amanda Cook $0.00Jason Stanton $0.00*Milia Wilcox $0.00

David Tyes $0.00*Linda McGrath $0.00Toni Partridge $0.00

Mischa White $0.00Rolando Corea, Raul Corea $0.00John McDaniel $0.00

Old South ApartmentsSteffy Sisson $0.00Joe Dye, Victoria Gleason $0.00

Rent Roll Prepared By: Leed Investments LLCOK For Old South Apartments

As of 2/2/2017, Current leases, All units

Name Recurring Credits


Rent Roll Prepared By: Leed Investments LLCOK For Old South Apartments

As of 2/2/2017, Current leases, All units

36 11/18/2015 month-to-month 2 Bed/1 Bath 850 $649.00 $649.00 $200.0037 10/1/2016 month-to-month 2 Bed/1 Bath 850 $679.00 $679.00 $300.0038 9/3/2016 9/30/2017 2 Bed/1 Bath 850 $649.00 $649.00 $200.0039 11/7/2016 11/30/2017 2 Bed/1 Bath 600 $500.00 $500.00 $200.0040 11/8/2016 11/30/2017 3 Bed/1 Bath 1,400 $897.00 $897.00 $200.00A 01 6/1/2014 month-to-month 2 Bed/1 Bath 900 $679.00 $0.00 $0.00A 02 2/1/2016 month-to-month 1 Bed/1 Bath 650 $575.00 $575.00 $0.00A 03 3/25/2014 month-to-month 1 Bed/1 Bath 650 $575.00 $565.00 $205.00A 04 1 Bed/1 Bath 650 $575.00 $0.00 $0.00A 05 8/19/2016 8/31/2017 1 Bed/1 Bath 650 $575.00 $575.00 $150.00A 06 2/3/2011 month-to-month 1 Bed/1 Bath 650 $575.00 $565.00 $158.00A 07 11/15/2016 11/30/2017 1 Bed/1 Bath 650 $575.00 $575.00 $150.00A 08 8/19/2016 8/31/2017 1 Bed/1 Bath 650 $575.00 $0.00 $150.00A 09 11/19/2016 7/31/2017 2 Bed/1 Bath 900 $649.00 $649.00 $0.00A 10 9/1/2016 8/31/2017 1 Bed/1 Bath 650 $575.00 $575.00 $0.00A 11 12/1/2015 month-to-month 1 Bed/1 Bath 650 $575.00 $555.00 $0.00A 12 12/17/2013 month-to-month 1 Bed/1 Bath 650 $575.00 $565.00 $150.00A 13 5/3/2016 5/31/2017 1 Bed/1 Bath 650 $575.00 $575.00 $150.00A 14 1/25/2012 month-to-month 1 Bed/1 Bath 650 $575.00 $555.00 $150.00A 15 3/24/2014 month-to-month 1 Bed/1 Bath 650 $575.00 $565.00 $150.00A 16 10/19/2016 10/31/2017 1 Bed/1 Bath 650 $575.00 $575.00 $100.00A 17 4/1/2015 month-to-month 2 Bed/1 Bath 900 $649.00 $649.00 $200.00Total for 35826 $35,826.00 $33,005.00 $9,857.00

Diana Bias $0.00$0.00

*Andrea Webb $0.00*Platius Talton $0.00Royce Wells, Nakeitra $0.00

Cedrick Markham $0.00*Monica Saunders $0.00Charlotte Forbis $0.00

John Dickinson $0.00Nathan Cooper, Erin $0.00Garland Peugh $0.00

Kaylene Thompson $0.00*Steve Fisher, Rose Fisher $0.00Delores Brooks $0.00

Sharon Manton $0.00**Mary Sanchez $0.00VACANT $0.00

Ann Cade $0.00Reggie Adair $0.00Karie Manton $0.00

Walter Hampton, Danny $0.00Higinio Mazariegos $0.00Elayne Medina, $0.00





4 DEMOGRAPHICS


SECTION 4 | DEMOGRAPHICS

Demographics Report


1 MILE1 MILE 3 MILES3 MILES 5 MILES5 MILES

Total households 4,883 41,636 118,874

Total persons per hh 2.2 2.2 2.2

Average hh income $56,974 $67,580 $64,601

Average house value $157,747 $201,101 $200,655

1 MILE1 MILE 3 MILES3 MILES 5 MILES5 MILES

Total population 10,957 90,228 264,337

Median age 40.5 41.6 37.5

Median age (male) 37.1 39.3 35.7

Median age (female) 41.9 43.5 39.3

* Demographic data derived from 2010 US Census



Demographics Map


* Demographic data derived from 2010 US Census

1 M1 Mileile 3 M3 Milesiles 5 M5 Milesiles

Total Population 10,957 90,228 264,337

Population Density 3,488 3,191 3,366

Median Age 40.5 41.6 37.5

Median Age (Male) 37.1 39.3 35.7

Median Age (Female) 41.9 43.5 39.3

Total Households 4,883 41,636 118,874

# of Persons Per HH 2.2 2.2 2.2

Average HH Income $56,974 $67,580 $64,601

Average House Value $157,747 $201,101 $200,655


5137 East 47th Street | Tulsa, OK 74135SUBJESUBJECT PROPERCT PROPERTTYY



Rent Comps Map




5 ADDITIONAL INFORMATION



SECTION 5 | ADDITIONAL INFORMATION

Additional Photos



Advisor Bio & Contact 1


Raymond LordManaging DirectorSVN | OAK Realty Advisors

As an apartment specialist with SVN OAK Realty Advisors, in Oklahoma, Kansas and Arkansas, Raymond’sprimarily focus on multi-family properties since 1987 and their dispositions for banks, private clients as well asInstitutional Investors. In addition he has an extensive background in the disposition of assets for FNMA, FDICand in the past the RTC and various institutional investors, and banking assignments throughout the Midwestand Southwest region of the U.S. His forte is financial analysis of investments and effective marketing ofassets both regionally and nationally. Raymond has transacted over $2.5 billion of transactions, includinginvestment sales, joint ventures, redevelopment and recapitalization advisory assignments.

SVN OAK Realty Advisors Tulsa OK Managing Director 2016NAI Commercial Properties Tulsa OK Principal 2000 to 2016 Commercial Real Estate Tulsa OK Investment 1997to 2000The Lyon Group Management CA President 1987-1997

American Village on the Lake 464 Units Tulsa OK Redfern Portfolio 1,465 Units Tulsa OK Woodlake Apartments799 Units OKC OK One Western & Quail Ridge 150,000 SF Office OKC Brookline Office Complex 74,000 SF OKCModern Bindery Industrial 100,000 SF Tulsa OKMacco Properties 1,541 units OKC OKCobblestone 482 Units Tulsa OKCase & Associates 585 Units PhoenixAmerican Residential 324 Units Tulsa OKReal Source 284 & 544 Tulsa / OKCSterling American 682 Unit Tulsa OK

Phone: 918.201.2005

Email: [email protected]

Memberships & Affiliations

Multifamily Dispositions/Acquisitions ; PropertyRepositioning ;Court Appointed Approved Receiver

Licensed Real Estate Broker, OklahomaSVN OAK Realty Advisor'sNational Association of RealtorsRegional DirectorGreater Tulsa Association of Realtors

Fax: 918.201.2006

Cell: 918.850.1779

Address: 9321 South Toledo AveTulsa, OK 74137



Advisor Bio & Contact 2


Benjamin DavisManaging DirectorSVN | OAK Realty Advisors

Ben is a Principal and Managing Director at SVN OAK Realty Advisors and has over 10 years of experiencespecializing in the marketing and sale of multifamily properties in the region.

Since he began his career in 2006, he has been involved in the sale of over $400 million commercial realestate transactions and has proven himself to consistently be one of the top multifamily brokers in the region.

Phone: 918.201.2005

Email: [email protected]

Memberships & Affiliations

Fax: 918.201.2006

Cell: 918.740.6288

Address: 9321 South Toledo AveTulsa, OK 74137

excellent multifamily investment opportunity · payroll $43,318 $746.00 contractor $3,193 $55.00...

Documents