fillmore manor | 3021 w fillmore st, phoenix, az, 85009
TRANSCRIPT
Fillmore Manor | 3021 w Fillmore st, Phoenix, AZ, 85009
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Fillmore ManorCONTENTS
Exclusively Marketed by:
Laura Good Brandon "Lee" GarnerRealtor: Commercial / Multi-Family Specialist Realtor: Commercial/ Multifamily Specialist(480) 406-1984 (480) 765-0292Lic: SA639563000 Lic: [email protected] [email protected]
We obtained the following information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent the current or future performance of the property. You and your tax and legal advisors should conduct yourown investigation of the property and transaction.
01 Executive Summary Investment Summary 3 Unit Mix Summary 4 Location Summary 5
02 Property Description Aerial Map 6
03 Rent Roll Rent Roll 7
04 Financial Analysis Income & Expense Analysis 8 Multiyear Cash Flow Assumptions 9 Cash Flow Analysis 10 Disposition Sensitivity Analysis 12
05 Demographics Demographics 13 Demographic Charts 15
Fillmore Manor Investment Summary | 03
OFFERING SUMMARYADDRESS 3021 w Fillmore st
Phoenix AZ 85009
FINANCIAL SUMMARYOFFERING PRICE $1,199,000
OCCUPANCY 99.00 %
NOI (CURRENT) $65,682
NOI (Pro Forma) $81,711
CAP RATE (CURRENT) 5.48 %
CAP RATE (Pro Forma) 6.81 %
GRM (CURRENT) 14.17
GRM (Pro Forma) 11.89
DEMOGRAPHICS 1 MILE 3 MILE 5 MILE2020 Population 14,806 120,648 386,865
2020 Median HH Income $29,956 $36,288 $39,898
2020 Average HH Income $44,895 $56,069 $56,856
Fully redone!
Room for much higher rents!
This wonderfully redone property has been revamped from the ground up.Buildings have been painted, apartments remodeled with floors cabinets,and counters, bathrooms etc. Blacktop redone as of 8/19/20, Brick wallbuilt up for privacy and security, as well as gravel, gazebo, barbecues fortenants! Cap rate could be as high as 6.3 with Current rents with a simpleRUBS program! There is improvement possible on rents, and furtherpotential for any new owner. Sellers will be sad to see this one go, but areon to the next!
Fillmore Manor Unit Mix Summary | 04
Actual MarketUnit Mix # Units Square Feet Current Rent Rent PSF Monthly Income Market Rent Market Rent PSF Market Income
2 bd + 1 ba 8 621 $800 - $950 $1.41 $7,000 $1,000 $1.61 $8,000
Totals/Averages 8 621 $875 $1.41 $7,000 $1,000 $1.61 $8,000
Fillmore Manor Location Summary | 05
Fillmore Manor Aerial Map | 06
Fillmore Manor Rent Roll | 07
Unit Unit Mix Monthly Market Rent1 2 bd + 1 ba $800 $1,0002 2 bd + 1 ba $900 $1,0003 2 bd + 1 ba $800 $1,0004 2 bd + 1 ba $900 $1,0005 2 bd + 1 ba $900 $1,0006 2 bd + 1 ba $900 $1,000A 2 bd + 1 ba $950 $1,000B 2 bd + 1 ba $900 $1,000
Totals/Averages $7,050 $8,000
Fillmore Manor Income & Expense Analysis | 08
INCOME CURRENT PRO FORMA
Gross Potential Rent $84,600 $96,000
RUBS $4,800
Gross Potential Income $84,600 $100,800
Less: General Vacancy $1,269 $1,440
Effective Gross Income $83,331 $99,360
Less: Expenses $17,649 $17,649
Net Operating Income $65,682 $81,711
EXPENSES CURRENT PRO FORMA
Real Estate Taxes $2,156 $2,156
Insurance $2,045 $2,045
Repairs & Maintenance $2,000 $2,000
Water / Sewer $10,044 $10,044
Landscaping $1,200 $1,200
Other Expenses $204 $204
Total Operating Expense $17,649 $17,649
% of EGI 21.18 % 17.76 %
REVENUE ALLOCATIONCURRENT
DISTRIBUTION OF EXPENSESCURRENT
Fillmore Manor Multiyear Cash Flow Assumptions | 09
GLOBALOffering Price $1,199,000
Fillmore Manor Cash Flow Analysis | 10
CASH FLOWCalendar Year CURRENT Pro Forma Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10Gross Potential RevenueGross Rental Income $84,600 $96,000 $96,000 $96,000 $96,000 $96,000 $96,000 $96,000 $96,000 $96,000RUBS $4,800 $4,800 $4,800 $4,800 $4,800 $4,800 $4,800 $4,800 $4,800Gross Potential Income $84,600 $100,800 $100,800 $100,800 $100,800 $100,800 $100,800 $100,800 $100,800 $100,800General Vacancy $1,269 $1,440 $1,920 $1,920 $1,920 $1,920 $1,920 $1,920 $1,920 $1,920Effective Gross Income $83,331 $99,360 $98,880 $98,880 $98,880 $98,880 $98,880 $98,880 $98,880 $98,880Operating ExpensesReal Estate Taxes $2,156 $2,156 $2,156 $2,156 $2,156 $2,156 $2,156 $2,156 $2,156 $2,156Insurance $2,045 $2,045 $2,045 $2,045 $2,045 $2,045 $2,045 $2,045 $2,045 $2,045Repairs & Maintenance $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000Water / Sewer $10,044 $10,044 $10,044 $10,044 $10,044 $10,044 $10,044 $10,044 $10,044 $10,044Landscaping $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200Other Expenses $204 $204 $204 $204 $204 $204 $204 $204 $204 $204Total Operating Expense $17,649 $17,649 $17,649 $17,649 $17,649 $17,649 $17,649 $17,649 $17,649 $17,649Net Operating Income $65,682 $81,711 $81,231 $81,231 $81,231 $81,231 $81,231 $81,231 $81,231 $81,231
Effective Gross Income vs Operating Expenses Cash Flow
Fillmore Manor Cash Flow Analysis | 11
Calendar Year CURRENT Pro Forma Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10Financial MetricsCash on Cash Return b/t 5.48 % 6.81 % 6.77 % 6.77 % 6.77 % 6.77 % 6.77 % 6.77 % 6.77 % 6.77 %CAP Rate 5.48 % 6.81 % 6.77 % 6.77 % 6.77 % 6.77 % 6.77 % 6.77 % 6.77 % 6.77 %Operating Expense Ratio 21.17 % 17.76 % 17.84 % 17.84 % 17.84 % 17.84 % 17.84 % 17.84 % 17.84 % 17.84 %Gross Multiplier (GRM) 14.17 11.89 11.89 11.89 11.89 11.89 11.89 11.89 11.89 11.89Breakeven Ratio 21.18 % 17.76 % 17.85 % 17.85 % 17.85 % 17.85 % 17.85 % 17.85 % 17.85 % 17.85 %
Fillmore Manor Disposition Sensitivity Analysis | 12
5 YEAR SENSITIVITY ANALYSISEXIT CAP RATE PROJECTED SALES
PRICESALES PRICE/UNIT SALES PRICE PSF PROCEEDS AFTER
LOAN PAYOFFIRR
0.25% $32,492,400 $0 $32,492,400 $32,492,400 95.94%0.50% $16,246,200 $0 $16,246,200 $16,246,200 71.29%0.75% $10,830,800 $0 $10,830,800 $10,830,800 58.47%1.00% $8,123,100 $0 $8,123,100 $8,123,100 50.04%1.25% $6,498,480 $0 $6,498,480 $6,498,480 43.87%1.50% $5,415,400 $0 $5,415,400 $5,415,400 39.05%1.75% $4,641,771 $0 $4,641,771 $4,641,771 35.13%2.00% $4,061,550 $0 $4,061,550 $4,061,550 31.85%2.25% $3,610,267 $0 $3,610,267 $3,610,267 29.04%
10 YEAR SENSITIVITY ANALYSISEXIT CAP RATE PROJECTED SALES
PRICESALES PRICE/UNIT SALES PRICE PSF PROCEEDS AFTER
LOAN PAYOFFIRR
0.25% $32,492,400 $0 $32,492,400 $32,492,400 41.36%0.50% $16,246,200 $0 $16,246,200 $16,246,200 32.48%0.75% $10,830,800 $0 $10,830,800 $10,830,800 27.65%1.00% $8,123,100 $0 $8,123,100 $8,123,100 24.39%1.25% $6,498,480 $0 $6,498,480 $6,498,480 21.96%1.50% $5,415,400 $0 $5,415,400 $5,415,400 20.04%1.75% $4,641,771 $0 $4,641,771 $4,641,771 18.46%2.00% $4,061,550 $0 $4,061,550 $4,061,550 17.13%2.25% $3,610,267 $0 $3,610,267 $3,610,267 15.99%
Fillmore Manor Demographics | 13
POPULATION 1 MILE 3 MILE 5 MILE
2000 Population 17,717 119,583 347,118
2010 Population 14,440 110,296 347,182
2020 Population 14,806 120,648 386,865
2025 Population 15,190 127,237 413,889
2020 African American 499 8,954 33,492
2020 American Indian 358 3,236 12,000
2020 Asian 47 2,498 9,964
2020 Hispanic 13,548 88,039 265,713
2020 Other Race 7,355 44,897 130,873
2020 White 5,991 56,031 183,704
2020 Multiracial 537 4,879 16,206
2020-2025: Population: Growth Rate 2.55 % 5.35 % 6.80 %
2020 HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE
less than $15,000 821 6,748 19,620
$15,000-$24,999 671 4,995 16,556
$25,000-$34,999 597 4,273 14,858
$35,000-$49,999 572 4,690 17,859
$50,000-$74,999 492 5,181 20,691
$75,000-$99,999 204 2,741 11,079
$100,000-$149,999 149 2,625 9,951
$150,000-$199,999 115 851 3,091
$200,000 or greater 52 1,021 2,816
Median HH Income $29,956 $36,288 $39,898
Average HH Income $44,895 $56,069 $56,856
HOUSEHOLDS 1 MILE 3 MILE 5 MILE
2000 Total Housing 4,322 34,871 111,984
2010 Total Households 3,583 30,433 103,716
2020 Total Households 3,674 33,125 116,524
2025 Total Households 3,762 35,710 126,824
2020 Average Household Size 4.02 3.25 3.17
2000 Owner Occupied Housing 2,099 16,196 50,378
2000 Renter Occupied Housing 1,884 16,162 53,350
2020 Owner Occupied Housing 1,764 14,280 50,969
2020 Renter Occupied Housing 1,910 18,846 65,554
2020 Vacant Housing 771 5,990 20,351
2020 Total Housing 4,445 39,115 136,875
2025 Owner Occupied Housing 1,828 14,963 53,961
2025 Renter Occupied Housing 1,934 20,747 72,863
2025 Vacant Housing 781 6,060 20,905
2025 Total Housing 4,543 41,770 147,729
2020-2025: Households: Growth Rate 2.35 % 7.55 % 8.55 %
Source: esri
Fillmore Manor Demographics | 14
2020 POPULATION BY AGE 1 MILE 3 MILE 5 MILE
2020 Population Age 30-34 1,024 9,201 30,030
2020 Population Age 35-39 906 7,292 25,572
2020 Population Age 40-44 733 6,792 22,972
2020 Population Age 45-49 760 6,584 21,661
2020 Population Age 50-54 728 6,330 20,225
2020 Population Age 55-59 617 5,514 18,030
2020 Population Age 60-64 484 4,384 14,952
2020 Population Age 65-69 359 3,554 12,012
2020 Population Age 70-74 257 2,521 8,565
2020 Population Age 75-79 157 1,681 5,356
2020 Population Age 80-84 91 951 3,088
2020 Population Age 85+ 86 850 2,848
2020 Population Age 18+ 9,409 85,236 270,823
2020 Median Age 26 28 29
2020 INCOME BY AGE 1 MILE 3 MILE 5 MILE
Median Household Income 25-34 $31,177 $36,954 $43,146
Average Household Income 25-34 $50,726 $55,366 $58,054
Median Household Income 35-44 $29,975 $39,261 $44,147
Average Household Income 35-44 $48,515 $60,124 $62,341
Median Household Income 45-54 $36,420 $47,748 $50,636
Average Household Income 45-54 $49,440 $68,295 $66,447
Median Household Income 55-64 $32,841 $40,146 $41,938
Average Household Income 55-64 $42,787 $59,743 $58,698
Median Household Income 65-74 $29,582 $31,426 $34,657
Average Household Income 65-74 $35,349 $48,015 $47,358
Average Household Income 75+ $26,313 $33,436 $35,108
2025 POPULATION BY AGE 1 MILE 3 MILE 5 MILE
2025 Population Age 30-34 1,212 10,308 34,141
2025 Population Age 35-39 973 8,102 28,415
2025 Population Age 40-44 833 7,199 24,936
2025 Population Age 45-49 697 6,653 22,259
2025 Population Age 50-54 712 6,379 20,653
2025 Population Age 55-59 623 5,571 18,612
2025 Population Age 60-64 537 4,965 16,598
2025 Population Age 65-69 417 4,020 13,560
2025 Population Age 70-74 294 3,063 10,264
2025 Population Age 75-79 202 2,186 7,275
2025 Population Age 80-84 120 1,285 4,011
2025 Population Age 85+ 91 934 3,154
2025 Population Age 18+ 9,723 90,372 291,217
2025 Median Age 27 29 30
2025 INCOME BY AGE 1 MILE 3 MILE 5 MILE
Median Household Income 25-34 $35,190 $42,992 $49,588
Average Household Income 25-34 $56,581 $62,831 $65,303
Median Household Income 35-44 $33,824 $43,561 $49,613
Average Household Income 35-44 $53,933 $65,899 $69,485
Median Household Income 45-54 $40,334 $51,723 $53,761
Average Household Income 45-54 $56,021 $75,079 $73,800
Median Household Income 55-64 $36,259 $44,170 $46,696
Average Household Income 55-64 $49,168 $66,056 $65,672
Median Household Income 65-74 $30,992 $35,117 $36,829
Average Household Income 65-74 $37,896 $55,206 $53,895
Average Household Income 75+ $27,990 $38,131 $39,831
Fillmore Manor Demographic Charts | 15
1 Mile Radius 3 Mile Radius 5 Mile Radius
2020 Household Income
1 Mile Radius 3 Mile Radius 5 Mile Radius
2020 Population by Race
Fillmore Manor Demographic Charts | 16
2020 Household Occupancy - 1 Mile Radius
Average Income Median Income
2020 Household Income Average and Median
Fillmore Manor
CONFIDENTIALITY and DISCLAIMERThe information contained in the following offering memorandum is proprietary andstrictly confidential. It is intended to be reviewed only by the party receiving it fromSJ Fowler Real Estate and it should not be made available to any other person orentity without the written consent of SJ Fowler Real Estate.
By taking possession of and reviewing the information contained herein the recipientagrees to hold and treat all such information in the strictest confidence. Therecipient further agrees that recipient will not photocopy or duplicate any part of theoffering memorandum. If you have no interest in the subject property, pleasepromptly return this offering memorandum to SJ Fowler Real Estate. This offeringmemorandum has been prepared to provide summary, unverified financial andphysical information to prospective purchasers, and to establish only a preliminarylevel of interest in the subject property.
The information contained herein is not a substitute for a thorough due diligenceinvestigation. SJ Fowler Real Estate has not made any investigation, and makes nowarranty or representation with respect to the income or expenses for the subjectproperty, the future projected financial performance of the property, the size andsquare footage of the property and improvements, the presence or absence ofcontaminating substances, PCBs or asbestos, the compliance with local, state andfederal regulations, the physical condition of the improvements thereon, or financialcondition or business prospects of any tenant, or any tenant’s plans or intentions tocontinue its occupancy of the subject property.
The information contained in this offering memorandum has been obtained fromsources we believe reliable; however, SJ Fowler Real Estate has not verified, andwill not verify, any of the information contained herein, nor has SJ Fowler RealEstate conducted any investigation regarding these matters and makes no warrantyor representation whatsoever regarding the accuracy or completeness of theinformation provided. All potential buyers must take appropriate measures to verifyall of the information set forth herein. Prospective buyers shall be responsible fortheir costs and expenses of investigating the subject property.
Exclusively Marketed by:
Laura Good Brandon "Lee" GarnerRealtor: Commercial / Multi-Family Specialist Realtor: Commercial/ Multifamily Specialist(480) 406-1984 (480) 765-0292Lic: SA639563000 Lic: [email protected] [email protected]
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