Hillsborough Village S E N I O R A P A R T M E N T S

A 1 9 6 - U n i t S e n i o r H o u s i n g A p a r t m e n t C o m p l e x

1 1 9 0 2 C e n t r a l A v e n u e , C h i n o , C A 9 1 7 1 0

O F F E R I N G M E M O R A N D U M

Off ered Exclusively By:

George IssaiansExecutive Vice PresidentTel: (818) 334-1915GeorgeI@cbcnco.comCA DRE Lic# 01110656

Greg TufenkianSenior AssociateTel: (818) 334-1913GregT@cbcnco.comCA DRE Lic# 01110656

Lic# 01786868

Hillsborough Village S E N I O R A P A R T M E N T S

TABLE OF CONTENTSTh e Property Property Overview ......................................................................................................................... 2 Photos ........................................................................................................................................... 3 Maps and Aerials ........................................................................................................................... 5 Plat Map ........................................................................................................................................ 8 Building Plan ................................................................................................................................. 9 Floor Plans .................................................................................................................................. 10

Investment Off ering Off ering Summary ....................................................................................................................... 13 Investment and Location Highlights ............................................................................................ 14 Facility Features ........................................................................................................................... 15

Financial Analysis Unit Mix ..................................................................................................................................... 17 Actual Annualized Expenses ......................................................................................................... 18 Investment Summary ................................................................................................................... 19

Contact Information .................................................................................................................. 20

Disclaimer Statement ................................................................................................................. 22

Hillsborough Village S E N I O R A P A R T M E N T S

Th e Property

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Hillsborough Village S E N I O R A P A R T M E N T S

Th e PropertyProperty Overview

Coldwell Banker Commercial North County is pleased to off er for sale Hillsborough Village, a 196-Unit Senior Apartment Building Complex (for Active Seniors) located in Chino, California. Th e City of Chino is located in the Western end of the Riverside - San Ber-nardino area region and is easily accessible to the Chino Valley (71) and Pomona (60) freeways.

Th e amenity-rich Senior Apartment Complex is consists of 96 units of Two Bedroom and One Bath and 100 units of One Bedroom and One Bath. Th ere are four buildings that comprise the complex: three buildings for tenants and one building for the clubhouse. Amenities include three elevators (one for each of the building that houses the tenants), laundry facilities (also, one for each build-ing), lush and colorful landscaping, swimming pool, ja-cuzzi and spa, luxurious clubroom, entertainment center, book room, indoor and outdoor storage, and many, many more for tenants to enjoy.

A real pride of ownership property and excellent invest-ment opportunity for an astute investor.

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Hillsborough Village S E N I O R A P A R T M E N T S

Th e PropertyProperty Photo

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Hillsborough Village S E N I O R A P A R T M E N T S

Th e PropertyProperty Photo

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Hillsborough Village S E N I O R A P A R T M E N T S

Th e PropertyMaps and Aerial - Location Map

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11902 Central AvenueChino CA 91710

Senior Apartment 196 UnitsSUBJECT PROPERTY

Hillsborough Village S E N I O R A P A R T M E N T S

Th e PropertyMaps and Aerial - Parcel Highlight

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Th e PropertyMaps and Aerial - 3 Mile Aerial

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Hillsborough Village S E N I O R A P A R T M E N T S

Th e PropertyMaps and Aerial - Parcel Map

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Hillsborough Village S E N I O R A P A R T M E N T S

Th e PropertyBuilding Plan

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Hillsborough Village S E N I O R A P A R T M E N T S

Th e PropertyFloor Plans - The Cantebury (Two Bedroom / One Bath)

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Hillsborough Village S E N I O R A P A R T M E N T S

Th e PropertyFloor Plans - The Ashley (One Bedroom / One Bath)

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Hillsborough Village S E N I O R A P A R T M E N T S

InvestmentOff ering

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Hillsborough Village S E N I O R A P A R T M E N T S

Investment Off eringOffering Summary

Property Name: Hillsborough village Senior Apartments (for independent seniors aged 55 years and over)

Number of Units: 196 Units

Year Built: 1987

Parking Spaces: 216 spaces

Number of Buildings: 4 Buildings: 3 buildings for tenants and 1 building for Clubhouse

Building SF (net Rentable): 121,325 SF

Lot Size in SF (Senior Housing): 249,599 SF

APN: 1014-621-028 (Senior Housing) 1014-621-047 (Senior Housing)

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Hillsborough Village S E N I O R A P A R T M E N T S

Investment Off eringInvestment Highlight

Hillsborough Village Apartment is a 196-unit senior apartment building complex for independent-liv-ing seniors (55 years and over) and it was built in 1987. Th e complex is comprise of four buildings, three of which house the tenants, and one building is the clubhouse. Th e facility off ers two types of apartment units: 96 units of Two Bedroom / One Bath (Th e Ashley) and 100 units of One Bedroom / One Bath (Th e Cantebury). Amenities include three elevators (one for each building), three laundry facilities (also, one for each building), clubhouse, big screen entertainment center, book room, luxurious clubroom, swimming pool, jacuzzi and spa, indoor and outdoor storage, and many more. It has assigned parking spaces for the tenants plus 10 guest parking spaces, off ering a total of 216 parking spaces.

Hillsborough Village is a very well-maintained and managed senior hous-ing complex. Th e facility has continuously been upgraded, and the build-ings are currently being painted and undergoing exterior renovations. It has an excellent reputation in the area for its management, excellent service, large units, clubhouse facility and well-maintained grounds.

Th e facility provides accommodations to private-paying residents (95%) and Section 8 tenants (5%). By providing Section 8, the facility is on the San Bernardino County Housing Authority list.

Th e facility currently has an occupational rate of about 95%. Historically, the occupancy rate for the facility has been about 98%. Such high occu-pancy rate clearly indicates that the rents are below market rents, and there is upside in rents.

Location Highlight

Th e City of Chino is centrally located in the western portion of the In-land Empire, in the lush valley below the San Gabriel Valley Mountains. Incorporated as a city in 1910, Chino is a well-established residential and commercial area with beautiful neighborhoods, diverse demographics, ir-resistible hometown charm and a well-rounded business mix.

Freeways 60, 71, and the 91 also bound the City of Chino. Additionally, it has its own municipal airport which is host to the renowned Chino air show each year.

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Hillsborough Village S E N I O R A P A R T M E N T S

Investment Off eringFacility Features

• Spacious fl oor plans• All units with private balconies and patios• European-style cabinets• Limited access entries• Luxurious clubroom• Book library• Big screen entertainment center• Th ree laundry facilities—one in every building• Sparkling swimming pool• Jacuzzi and spa• Indoor and outdoor storage• Th ree large, convenient elevators—one in each building• Lush, colorful landscaping• 24 hour emergency maintenance• 216 Parking spaces• Unit Mix: 96 Units of Two Bedroom / One Bath (Th e Cantebury) - 695 Sq. Ft. 99 Units of One Bedroom / One Bath (Th e Ashley) - 544 Sq. Ft. 1 Unit of One Bedroom / One Bath (Large unit) - 900 Sq. Ft.

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Hillsborough Village S E N I O R A P A R T M E N T S

FinancialAnalysis

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Hillsborough Village S E N I O R A P A R T M E N T S

Financial AnalysisUnit Mix

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# of Units Unit Type Unit Size in SF Current Rent Current Income(Monthly) Proforma Rent

Proforma Income

(Monthly)

96 2 Bd / 1 Ba 695 SF $860-$950 $88,115 $1,075 $103,20099 1 Bd / 1 Ba 544 SF $755-$850 $76,900 $900 $89,1001 1 Bd / 1 Ba 900 SF $1,085 $1,085 $1,100 $1,100

196 TOTAL 121,325 SF $165,020 $193,400

Notes: Actual Rent Per Square Foot: $1.36 Market Rent Per Square Foot: $1.46

Hillsborough Village S E N I O R A P A R T M E N T S

Financial AnalysisActual Annualized Expenses

New Taxes $185,500Insurance $84,928Water and Power $105,840Gas $65,856Rubbish $29,400Landscaping $24,000Maintenance and Repairs $58,015Employees Salary $264,000Pest Control $2,760Replacement Expenses $50,000Security Service $7,200Elevators $6,900Cleaning and Painting $14,400Fire Protection $6,000Advertising and Leasing Expenses $30,000Administrative and Operating Expenses $43,970Swimming Pool $1,680Miscellaneous Expenses $24,873

Total Operating Expenses $1,005,322Expenses per Net Rentable Sq. Ft. $8.29Expenses per Unit $5,129.19

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Hillsborough Village S E N I O R A P A R T M E N T S

Financial AnalysisInvestment Summary

Purchase Price (Senior Apartment Building and Vacant Land): $17,500,000Down Payment: $6,300,000Assumable Financing: $11,200,000Interest Rate: 5.855%Price per Unit: $89,286Price per Net Rentable SF: $144.24

Estimated Annualized Operating Data

Actual ProformaScheduled Rental Income: $1,980,240 $2,320,800Less: Projected Vacancy: ($99,012) 5% ($116,040) 5%Gross Rental Income: 1,881,228 2,204,760Plus: Laundry Income: 9,600 9,600Gross Operating Income: 1,890,828 2,214,360Less: Annualized Expenses: ($1,005,322) 51% ($1,005,322) 43.3%Net Operating Income: $885,506 $1,209,038Less: Loan Payments: 793,310 793,310Pre-Tax Cash Flow: $92,196 $415,728

CAP Rate: 5.06% 6.91%Gross Rent Multiplier: 8.84X 7.54X

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Hillsborough Village S E N I O R A P A R T M E N T S

ContactInformation

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Hillsborough Village S E N I O R A P A R T M E N T S

Contact Information

For more information, please contact:

George IssaiansExecutive Vice PresidentTel: (818) 334-1915GeorgeI@cbcnco.comCA DRE Lic# 01110656

Greg TufenkianSenior AssociateTel: (818) 334-1913GregT@cbcnco.comCA DRE Lic# 01110656

Coldwell Banker Commercial North County801 North Brand Boulevard, Suite 180, Glendale, CA 91203(818) 334-1900 - Phone(818) 334-1876 - Faxwww.cbcnco.com

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Hillsborough Village S E N I O R A P A R T M E N T S

DisclaimerStatement

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Hillsborough Village S E N I O R A P A R T M E N T S

Disclaimer Statement

Th is off ering has been prepared solely for informational purposes.. It is designed to assist a potential investor in determining whether it wishes to proceed with an in-depth investigation of the Subject Prop-erty. While the information contained herein is from sources deemed reliable, it has not been indepen-dently verifi ed by Coldwell Banker Commercial North County, its agent, or by the Seller.

Th e projections and proforma budget contained herein represent best estimates on assumptions con-sidered reasonable under the circumstances. No representations or warranties, expressed or implied, are made that actual results will conform to such projections.

Interested Buyers should be aware that the Seller is selling the Property “AS IS” CONDITION WITH ALL FAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NA-TURE. Prior to and/or after contracting to purchase, as appropriate, Buyer will be given reasonable opportunity to inspect and investigate the Property and all improvements thereon, either independently or through agents of the Buyer’s choosing.

Th e Seller reserves the right to withdraw the property being marketed at anytime without notice, to reject all off ers, and to accept any off er without regard to the relative price and terms of any other off er. Any off er to buy must be: (i) presented in the form of a non-binding Letter of Intent; (ii) incorporated in a formal written contract of purchase and sale to be prepared by the Seller executed by both parties; and (iii) approved by Seller and such other parties who may have an interest in the property. Neither the prospective Buyer nor Seller shall be bound until execution of the contract of Purchase and Sale, which contract shall supersede prior discussions and writings and shall constitute the sole agreement of the parties.

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