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SwiftStreetPortfolio

P R E S E N T E D B Y

Jarred WellemKW Commercial Tel: 678-577-9834jarredwellem@kw.comLicense: GA 385522

TABLE OF CONTENTS

FINANCIAL ANALYSIS 02

Rent Roll Detail

Operating Statement

MARKET COMPARABLES 03

Sales Comps

Rent Comps

MARKET OVERVIEW 04

Market AnalysisDemographic Analysis

SECTION SECTION

INVESTMENT OVERVIEW 01

Property Overview

SWIFT STREET PORTFOLIO

SWIFT STREET PORTFOLIO

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INVESTMENT

OVERVIEW

PROPERTY OVERVIEW

SWIFT STREET PORTFOLIO

PROPERTY OVERVIEW

•KWCommercialpresentstheopportunitytoacquire611SwiftStreet,acombinationof67unitsspreadthroughtwoapartmentlocationslessthan0.2milesawayfromeachother locatedinAlbany,GA.

•611SwiftStreetiscomposedof14twobedroom/1bathunitsand14threebedroom/1bathunitsspreadacross7buildingson5.1acres.Just.2milesawaylies10quadssituatedacross10acreswithvaryingunitsizes.Currentlyonly8ofthequadsareinrentableconditionwithtwomorequadsthatareinneedofrenovation.Currentownerestimatesthateachquadwillrequirearound$40,000inworkor$10,000aunit.

•Currentlytheownerhasbeenrenovatingunitsastheyturnat611SwiftStreetwithallnewfloors,newpaint,andnewappliances.Forthe2BR,1BAunitsheisincreasingtherentoneachunitatleast$50asleasesrenewandforthe3BR,1BAunitshehasbeenintheprocessofrenovatingthoseunitsandraisingtherentto$500.

•ThesepropertiesdohaveSection8tenantsandtheHousingAuthorityofColumbushasspokenwiththecurrentowner,andindicatedthathisrentsarealmost$200belowwhattheycouldbe.Thus,asyearlySection8housinginspectionscomeup,andcurrentleasesend,theownerplanstoraisetherentsonallunitsacrosstheportfoliobyatleast$50,andgraduallycontinue toraisethemeachrenewal.

•Allunitsthatarecurrentlyvacantinthequadsandat611Swiftareinrentreadyconditionorareintheprocessofbeingrenovated.

•Alloccupiedunitsareonmonthtomonthleases.

•Allunitshavecentralheatingandair,exceptforthe1105SwiftStreetquad,aswellasindividualsub-meters.Tenantsareresponsibleforwater,electricity,andtrash.Bothpropertiesarepublicwaterandsewer.Thepropertyhasseparateindividualmetersforallutilitiesincludingelectricity,andwater,andthepropertydoeshavecentralheatingandair.

•PropertylieswithinanOpportunityZone,providingpotentialforgreattaxbenefits.

PROPERTY OVERVIEW

SWIFT STREET PORTFOLIO

PICTURES.

Belowarepicturesofarecentrenovationdoneononeoftheunitsat611SwiftStreet.Thisunitwasa3BR,1BAunitthatwasadvertisedforrentat$500.Beforecurrentmanagementevenhadthechancetofinishinstallingnewappliances,atenantagreedtorentfor$425withnonewappliances.Thisrecentrenovationincludedanallnewcoatofpaint,andallnewflooring.Thekitchencabinets,andappliancesseeninthepicturebelowdidnotchangeandarecurrentlysimilarinalloftheunits.

PROPERTY OVERVIEW

SWIFT STREET PORTFOLIO

PICTURES

Belowareafewpicturesofunitsthathadrecentlybeenvacated,andwereinneedofbeingturnedandre-rented.Allnewpainthadalreadybeenappliedtotheseunits,andasyoucanseeinacoupleofthepicturesbelow,managementhasbeenrippingoutalloftheoldcarpetandinsertingnewflooringsimilartothepicturesintheslideabove.

PROPERTY OVERVIEW

SWIFT STREET PORTFOLIO

AERIAL OVERVIEW

611Swift

10quadsonSwiftandBlakelyCourt

PROPERTY OVERVIEW

SWIFT STREET PORTFOLIO

Picturedbelowareexamplesofthetypesofquadsthatcurrentlymakeuptheportfolio.Thetoptwopicturesrepresentthetypicalconditionofthe7quadscurrentlyinrentablecondition.Thebottomleftpictureisapictureofthequadthathadrecentlyexperiencedfiredamage,astheunitfarthesttotherightwasthecause.Onlyoneunitactuallyexperiencedfiredamage,butallfourunitswererequiredtovacatebytheCityofAlbany.Lastlyisapictureofthequadthatisinneedofatotalrenovation,althoughtheinsidehasbeencompletelyguttedtothestuds.

PICTURES OF QUADS OFF SWIFT AND BLAKELY COURT

SWIFT STREET PORTFOLIO

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FINANCIAL

ANALYSIS

FINANCIAL ANALYSIS

SWIFT STREET PORTFOLIO

RENT ROLL DETAIL AS OF 1.4.19

FINANCIAL ANALYSIS

SWIFT STREET PORTFOLIO

RENT ROLL DETAIL AS OF 1.4.19

FINANCIAL ANALYSIS

SWIFT STREET PORTFOLIO

RENT ROLL DETAIL AS OF 1.4.19

FINANCIAL ANALYSIS

SWIFT STREET PORTFOLIO

OPERATING STATEMENT

SWIFT STREET PORTFOLIO

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LOCATION

OVERVIEW

SWIFT STREET PORTFOLIO

LOCATION OVERVIEW

LOCATION OVERVIEW

611SwiftStreetsitsjust2.3mileswestoutsidetheheartofdowntownAlbany.GivenSwiftStreet’scentrallocation,allofAlbany’stoptenmajoremployersarewithinalessthan8milecommute.Given611SwiftisalsojustamileawayfromUS-19,SwiftStreetresidentsareaffordedtheopportunityandeaseofaccesstotheentirecityofAlbany,whilehavingtheabilitytoliveinsomeofthemostaffordablehousingintheentirecity.

InregardstotheimmediateareaandneighborhoodinwhichSwiftStreetlies,onecanfeelcomfortableandsafeasthepropertyistuckedawayintoaquietresidentialcommunity.Theproperty’sneighborsincludeachurchaswellastheBethelHousingComplexwhichisoneofthenicestHUDAssistedHousingFacilitiesinallofSouthGeorgia.

Overall611SwiftStreetisanideallocationgivenit’scentrallocation,proximitytosomeofthebestemployersinAlbany,easeofaccesstoUS-19,andtheoverallprivatesettinginwhichthepropertyliessecludedandsurroundedbytrees.

Teleperformance (7.5Milesfrom611Swift)

AlbanyStateUniversity(2.1Milesfrom611Swift)

Proctor&GamblePaperProducts(4.5Milesfrom611Swift)

MillerCoors (3.6Milesfrom611Swift)

ThrushAircraft(7.0Milesfrom611Swift)

PhoebePutneyHealthSystem(4.5Milesfrom611Swift)

MarineCorpsLogisticsBase– Albany(7.8Milesfrom611Swift)

SWIFT STREET PORTFOLIO

LOCATION OVERVIEW

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MAP

MillerCoorsAlbanyBrewery

MarineCorpsLogisticsBase

Proctor&GamblePaperProducts

AlbanyStateUniversity

611Swift

PhoebePutneyHealthSystem

DowntownAlbany

SouthwestGeorgiaRegionalAirport

SWIFT STREET PORTFOLIO

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MARKET

COMPARABLES

SWIFT STREET PORTFOLIO

SALES COMPARABLES

SALES COMPARABLES

TZADIK AT SOUTH MOCK333 South Mock Road Albany, GA 31705 ( 3 miles from Swift Street)11 2

SUNCHASE APARTMENTS1308 Hobson Street Albany, GA 31705 (1 mile from Swift Street).

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SWIFT STREET PORTFOLIO

SALES COMPARABLES MAP

611Swift(Subject)

Rivercrest (0.9milesfrom611SwiftStreet)

Tzadik atSouthMock(3 milesfrom611SwiftStreet)

SWIFT STREET PORTFOLIO

RENT COMPARABLES

YEAR BUILT: 1997

NEWNAN ESTATES53 Newnan Estates Drive Newnan, GA 30263

YEAR BUILT: 2004

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YEAR BUILT: 1979

ZORI’S VILLAGE 300 Moultrie Road Albany, GA 31705 (2.9 miles from 611 Swift Street)

RIVERCREST525 Don Cutler Senior Drive Albany, GA 31705 ( 1 mile from 611 Swift Street.

TZADIK AT SOUTH MOCK333 South Mock Road Albany, GA 31705 ( 3 miles from 611 Swift Street)

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SWIFT STREET PORTFOLIO

RENT COMPARABLES MAP

SwiftStreetPortfolio(Subject)

Rivercrest (1milefrom611SwiftStreet)

Zori’s Village(2.9milesfrom611SwiftStreet)

Tzadik atSouthMock(3milesfrom611SwiftStreet)

SWIFT STREET PORTFOLIO

RENT COMPARABLES

NEWNAN ESTATE673 VISTA ISLE DRIVE, SUNRISE, FL, 33325

Rental Rate Comparison Table

SWIFT STREET PORTFOLIO

RENT COMPARABLES

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Rental Comps Interior Pictures

RIVERCREST INTERIOR PHOTOS

TZADICK AT SOUTH MOCK INTERIOR PHOTOS

SWIFT STREET PORTFOLIO

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MARKET

OVERVIEW

Market Overview

SWIFT STREET PORTFOLIO

MARKET OVERVIEW

AlbanyisacityinsouthwestGeorgia,locatedonthe FlintRiver,itistheseat ofDoughertyCounty.Thepopulationwas77,434atthe2010U.S.Census,makingittheeighth-largestcityinthestate.

Althoughthecityissurroundedbyfarmsandplantations,almostnoneofthepopulationisemployedinagriculture.TheMarineCorpsLogisticsBaselocatedinAlbanyisthearea’slargestemployer,asidefromthehealthcareandeducationalsystems.AlbanyisthelocationofAlbanyStateUniversityandDarton College.Ithasbecomeheavilymechanizedandmostemploymentisconductedonanindustrialscale. Manufacturing,transportation,andretail trade arealsoimportantfoundationsofAlbany'seconomy,andthecityactsasahubforcommerceinsouthwestGeorgia.

Asnational,state,andregionaleconomicconditionscontinuetoimprove,Albanywillcapitalizeonitsassets,includingalowcostoflivinganddoingbusiness,anexcellenttelecommunicationsinfrastructure,majorhighwayaccess,theMarineCorpsLogisticBase,anewly mergedUniversitySystemofGeorgiainstitution,anexcellenttechnicalcollege,thenew4CAcademy,andareputationasagoodplacetoliveandraiseafamily

AlbanyMSAQuickFactsNo.1inGeorgiaforlowestcostofutilitiesNo.5amongsmallmetrosinGeorgiaforcostofdoingbusinessCostofliving18.5percentlowerthannationalaverageEighth-largestMSAinGeorgia

MARINE CORPS LOGISTICS BASE

Market Overview

SWIFT STREET PORTFOLIO

MAJOR EMPLOYERS

ThebackboneofAlbany-DoughertyCounty’seconomyisitsdiversity.Frommanufacturingtohealthcareservicestodatacenterstologisticsanddistribution,industrieshaveaplaceintheregionaleconomy.Someofthecommunity’sbest-knownindustriesincludeProcter&Gamble,MillerCoors,Coats&Clark,GeorgiaPacific,MarsChocolateNorthAmericaandPfizer.

TOP TEN EMPLOYERS

PhoebePutneyHealthSystem(4.5Milesfrom611Swift)

MarineCorpsLogisticsBase– Albany(7.8Milesfrom611Swift)

DoughertyCountyBoardofEducation

CityofAlbany

AlbanyStateUniversity&Darton College(2.1Milesfrom611Swift)

Proctor&GamblePaperProducts(4.5Milesfrom611Swift)

DoughertyCounty

Teleperformance (7.5Milesfrom611Swift)

MillerCoors (3.6Milesfrom611Swift)

ThrushAircraft(7.0Milesfrom611Swift)

ALBANY STATE UNIVERSITY

Market Overview

SWIFT STREET PORTFOLIO

COST OF DOING BUSINESS

Whenitcomestodoingbusiness,Georgiaranksrightupthere.Infact,we’reNo.4overallforcompetitivenessintheUnitedStates. TheAlbanyMetropolitanStatisticalArearanksfirstinGeorgiaforlowestcostofutilities,and,amongsmallmetros,theAlbanyarearanksfifthforcostofdoingbusiness.AnISOratingoftwoallowsbusinessesinAlbany-DoughertyCountytosavesignificantlyontheirinsurancecosts.

ALBANY – DOUGHERTY COUNTY QUICK FACTS

•Broadanddiversebusinessbase•Hometoworld-classcompanies•AlbanyairportNo.2instatebyvolumeforcargo•Attractiveincentivesfornewandexistingindustries•BusinessFastTrackprogramforexpeditedbusinesstimeline•Named“CenterofExcellenceforLogistics”in2010byBusinessExpansionmagazine

TRANSPORATION

AllroadsleadtoAlbany.Whetheryou’retryingtoreachthePortofSavannahorI-75,Albany-DoughertyCountyprovidesyouwithfour-laneaccessallthewaythere.Ourstrategiclocationallowsyoutoreach82percentofthedomesticindustrialmarketand79percentofthenation’slargestconsumermarketsinlessthantwodays(bytruck).SouthwestGeorgiaRegionalAirportofferspassengerandcargotravel.Ifit’s railyouneed,NorfolkSouthernCorp.andGeorgia&FloridaRailwayhaveourcountycovered.

SOUTHWEST, GA REGIONAL AIRPORT

PROPERTY NAME

MARKETING TEAM

SWIFT STREET PORTFOLIO

DEMOGRAPHICS

Source: © 2017 Experian

Created on November 2018

POPULATION 1 Miles 3 Miles 5 Miles§ 2022 Projection

Total Population 5,062 34,174 71,689

§ 2017 Estimate

Total Population 5,355 35,155 72,505

§ 2010 Census

Total Population 5,468 36,074 73,628

§ 2000 Census

Total Population 6,672 38,335 75,032

§ Daytime Population

2017 Estimate 4,587 53,263 97,689

HOUSEHOLDS 1 Miles 3 Miles 5 Miles§ 2022 Projection

Total Households 1,592 12,080 27,128

§ 2017 Estimate

Total Households 1,664 12,226 26,965

Average (Mean) Household Size 2.77 2.59 2.53

§ 2010 Census

Total Households 1,702 12,548 27,466

§ 2000 Census

Total Households 1,922 12,808 26,916

Growth 2015-2020 -4.33% -1.19% 0.60%

HOUSING UNITS 1 Miles 3 Miles 5 Miles§ Occupied Units

2022 Projection 1,592 12,080 27,128

2017 Estimate 1,997 14,618 31,117

Owner Occupied 500 3,370 10,766

Renter Occupied 1,163 8,856 16,199

Vacant 334 2,392 4,152

§ Persons In Units

2017 Estimate Total Occupied Units 1,664 12,226 26,965

1 Person Units 25.12% 30.49% 29.67%

2 Person Units 27.28% 27.44% 29.61%

3 Person Units 19.05% 17.30% 17.43%

4 Person Units 14.18% 12.29% 12.44%

5 Person Units 8.23% 6.81% 6.31%

6+ Person Units 6.13% 5.67% 4.55%

HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles§ 2017 Estimate

$200,000 or More 0.36% 0.86% 1.26%

$150,000 - $199,000 0.72% 0.88% 1.66%

$100,000 - $149,000 2.40% 2.89% 5.55%

$75,000 - $99,999 1.97% 3.19% 6.56%

$50,000 - $74,999 10.21% 10.24% 14.35%

$35,000 - $49,999 10.30% 12.19% 14.58%

$25,000 - $34,999 16.18% 12.43% 12.67%

$15,000 - $24,999 16.75% 19.28% 15.88%

Under $15,000 41.11% 38.04% 27.48%

Average Household Income $28,537 $32,882 $44,366

Median Household Income $20,420 $21,018 $29,834

Per Capita Income $8,873 $12,475 $17,074

POPULATION PROFILE 1 Miles 3 Miles 5 Miles§ Population By Age

2017 Estimate Total Population 5,355 35,155 72,505

Under 20 32.52% 32.57% 29.89%

20 to 34 Years 24.65% 24.45% 22.76%

35 to 39 Years 6.31% 5.67% 6.00%

40 to 49 Years 10.97% 10.72% 11.33%

50 to 64 Years 15.97% 15.91% 17.47%

Age 65+ 9.59% 10.65% 12.55%

Median Age 30.13 29.62 32.93

§ Population 25+ by Education Level

2017 Estimate Population Age 25+ 3,140 20,095 44,529

Elementary (0-8) 6.45% 6.14% 4.76%

Some High School (9-11) 23.79% 20.65% 16.32%

High School Graduate (12) 32.43% 30.47% 29.70%

Some College (13-15) 23.88% 25.62% 26.49%

Associate Degree Only 3.62% 4.99% 5.87%

Bachelors Degree Only 4.79% 6.55% 9.23%

Graduate Degree 1.96% 3.01% 5.75%

§ Population by Gender

2017 Estimate Total Population 5,355 35,155 72,505

Male Population 48.61% 46.59% 46.53%

Female Population 51.39% 53.41% 53.47%

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Jarred WellemAtlanta OfficeTel: (678) 577 9834jarredwellem@kw.com

P R E S E N T E D B Y

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