DAVE SAVAGE ‐ PRINCIPAL ‐ ACI(619) 300‐9070  DAVESAVAGE777@GMAIL.COM  CalBRE# 00694099

922 S. SUNSHINE  AVE.      EL CAJON, CA   ‐ 9202020 Units

MARK MORGAN ‐ SENIOR VICE PRESIDENT ‐ ACI(619) 300‐9070  MARKMORGAN@ACIAPARTMENTS.COM     CalBRE# 01339919

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Cosmetic Upgrades to 4 of 20 Units

INVESTMENT SUMMARY UNIT MIX BREAKDOWN

Number of Units………………………………… 20Unit Size Average…………………………….. 782Net Rentable Square Feet…………………… 15,632Actual Rent / Unit……………………………. $1,082Actual Rent / Square Foot………………….. $1.38Year Built………………………………………. 1980

UNIT MIX SUMMARYUnit Type Units Unit Mix**Studio 1 5%1 Br 1Ba 8 40%2 Br 1 Ba 3 15%2 Br 1.5Ba 8 40%

Total 20 100%Weighted Average

**It is reported that, years ago, a previous owner converted a recreation room into this large studio. We have made no investigation to determine if this conversion was done under a permit.

Square Feet500

Net Rentable SF$1.30

7,200

5005,360

CASA DEL SOL922 S. SUNSHINEEl Cajon, CA 92020

$1,193 $1.33 $9,544

670850900

2,550$1,018 $1.52 $8,144

Actual Rent / Unit Actual Rent / SF Monthly Rent

$1,100 $1.29 $3,300

$650$650

* Property is nearly always 100% occupied at these rents.

$21,638

INVESTM

ENT AN

D U

NIT M

IX SUM

MAR

Y

5%

40%

15%

40%

**Studio

1 Br 1Ba

2 Br 1 Ba

2 Br 1.5Ba

# Units Zip20 92020

Current Market Current Market14.89 11.72 3.1% 4.9%

# Units Type Rent Total

1 Studio $750 $7508 1Br/1Ba $975 $7,800 Advertising $1,500 $7,5603 2Br/1Ba $1,100 $3,300 Gas & Electric $13,067 $15,6008 2Br/1.5Ba $1,250 $10,000 Water & Sewer $18,970 Licenses & Fees $743

$0 Landscaping $6,236 Miscellaneous $0Laundry & Misc Inc. $262 Insurance $4,458 Supplies $3,300Total Monthly Income $22,112 General Admin $0 Pool $4,012

Trash Removal $3,770 Pest Control $684Maintenance & Repairs $11,540 Taxes $43,450

1 Studio $1,050 $1,0508 1Br/1Ba $1,225 $9,8003 2Br/1Ba $1,395 $4,185 Total Annual Operating Expenses $134,8908 2Br/1.5Ba $1,595 $12,760

$0 Expenses Per: Est. Sq. Ft. $8.63Laundry & Misc Inc. $300 Unit $6,745Total Monthly Income $28,095 % of GSI 50.84%

Current MarketGross Scheduled Income $265,344 $337,140 Exisitng Financing: $1,500,000 38.0% 3.40%Less: Vacancy Factor 3% $7,960 $10,114Gross Operating Income $257,384 $327,026 Downpayment: $2,450,000 62.0%Less: Expenses 50.84% $134,890 $134,890Net Operating Income $122,494 $192,136 DSCR: -1.53

Less: 1st TD Payments ($79,827) ($79,827)

Pre-Tax Cash Flow $42,667 $112,309

CalBRE # 00694099 CalBRE # 01339919

922 S. Sunshine El Cajon Casa Del Sol 1980 0.8 AcresAddress City Name Year Built Parcel Size

Price $/Unit$/Square Foot Gross Sq. Ft. GRM

Market

CAP Rate(Approx.) (Approx.)

$3,950,000 $197,500 $252.69 15,632

Income DetailEstimated Annual Operating Expenses

Current

Management (Off Site)Management (On Site)

Estimated Annual Operating Proforma Financing Summary

Contact:Dave Savage Mark Morgan

ACI - Principal ACI - Senior Vice President619-300-8090 619-300-9070

davesavage777@gmail.com markmorgan@aciapartments.com

INVESTM

ENT SU

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ARY

S. Sunshine Apts 1973 25 1 4%1043 S. SunshineEl Cajon 2Br/1Ba $1,450 750 $1.93

S. Sunshine Apts 1977 20 1 5%908 S. SunshineEl Cajon

2Br/2Ba $1,600 850 $1.88

Ballantyne Apts. 1981 28 1 4%574 Ballantyne St. 1Br/1Ba $1,195 600 $1.99El Cajon 2Br/1Ba $1,395 750 $1.86

Broadway Square 1971 74 1 1%563 Broadway 1Br/1Ba $1,250 600 $2.08El Cajon 2Br/1Ba $1,395 750 $1.86

Colony Court 1968 92 1 1%301 Shady >Lane 1Br/1Ba $1,195 600 $1.99El Cajon

# Photo Vacancy %Building Total Units # Units Vacant

Year Built

Pool

Washer/Dryer In Unit1 Assigned Parking Space

AC

New AppliancesLaundry Room

ACPool & Spa

1

2

3

4

Unit Type

Laundry RoomOff-Street Parking

Balcony/PatioGated Property

PoolLaundry Room

Rent Per SF

Comments

Stainless Steel Refrigerator

Rents SqFt

Laundry Room5

RENTAL SURVEY

1968 15 1 7%718 S. Magnolia 1Br/1Ba $1,095 644 $1.70El Cajon 2Br/1Ba $1,295 776 $1.67

Emerald 1972 15 1 7%408 Emerald Ave. 1Br/1Ba $1,195 600 $1.99El Cajon 2Br/1Ba $1,395 750 $1.86

Anza 1980 27 1 4% Studio $1,050 475 $2.21310 S. Anza 1Br/1Ba $1,295 600 $2.16El Cajon 2Br/1Ba $1,425 700 $2.04

Year Built Units # Vacant Vacancy % Studio $1,050 475 $2.21

1974 37 1 4% 1Br/1Ba $1,204 607 $1.99

2Br/1Ba $1,393 746 $1.872Br/2Ba $1,600 850 $1.88

Year Built Units # Vacant Vacancy % Studio $750 450 $1.671980 20 0 0% 1Br/1Ba $975 600 $1.63

2Br/1Ba $1,100 750 $1.472Br/2Ba $1,250 850 $1.47

Unit Type Rents SqFt Total Units # Units Vacant

Vacancy %

Property

Granite CountertopsAir Conditioning

Wood & Tile Flooring

PoolLaundry Room

Remodeled Units

# Photo Building

Laundry Room

ACParking

Rental

8

6

Subject

Averages

Year Built

BBQ

7

Standard Apartment UnitsAir Conditioning

Ceiling FansLaundry Room

Rent Per SF

Comments

RENTAL SURVEY

Cajon Terrace $6,615,000 Studio: 1963 $178,784 $244.73 11.2 5.80%330 N. 1st 5/24/2017 1Br/1Ba:El Cajon 2Br/1Ba: 37

2Br/2Ba:Total: 37

Leslie Manor $3,000,000 Studio 1960 $187,500 $222.22 11.8 5.50%989 Leslie Rd. 2/14/2017 1Br/1BaEl Cajon 2Br/1Ba 14

3Br/2Ba 2Total: 16

Lexington Terrace $1,987,500 Studio 1960 $165,625 $197.33 N/A N/A1140 E. Lexington 7/11/2017 1Br/1BaEl Cajon 2Br/1Ba 10

3Br/1Ba 2Total: 12

The Terraces $3,825,000 Studio 1958 $182,143 $215.76 12.3 5.20%901 E. Madison Ave. 1/31/2018 1Br/1BaEl Cajon 2Br/1Ba 20

3Br/1Ba 1Total: 21

Mollison Gardens $5,750,000 Studio 1987 $164,286 $161.63 12.6 4.90%150 S Mollison 8/30/2017 1Br/1Ba 10El Cajon 2Br/1Ba 25

2Br/2Ba Total: 35 Laundry Room

deferred maintenance

Laundry Room

Comments

PoolLaundry Room

Avg Unit Size 731sf

Air Conditioning

1031 Exchange

5

22 Parking SpacesAvg Unit Size 842sf

1 Vacant ATOSAvg Unit Size 1,016sf

No Income Info Available

2

3

4

# Photo CAP RatePrice/UnitSales Price Price/SqFt

1

Year BuiltBuilding Unit Type

Mix GRM

1031 ExchangePool

PoolLaundry Room

40 Parking Spaces$50,000 credit for

22 Garages35 Parking Spaces

COMPARABLE SALES

Cameron $5,700,000 Studio: 1971 $158,333 $243.17 12.2 4.40%346 S Mollison 6/6/2017 1Br/1Ba: 28El Cajon 2Br/1Ba: 8

2Br/2Ba:Total: 36

Park Terrace $5,600,000 Studio 1987 $215,385 $244.48 13.8 3.70%220 W Park Ave 7/12/2017 1Br/1BaEl Cajon 2Br/1Ba 26

3Br/2BaTotal: 26

Cherry Park $1,785,000 Studio 1987 $178,500 $257.61 10.8 4.55%750 Scranton St. 4/10/2017 1Br/1BaEl Cajon 2Br/1Ba

2Br/2Ba 10Total: 10

Sales Price Age $ Per Unit $ Per SF GRM CAP

$4,282,813 1972 $178,819 $223.37 12.10 4.86%

Price/SqFt GRM CAP Rate CommentsUnit Type

Mix Year Built Price/Unit# Photo Building Sales Price

Laundry Room

Avg Unit Size 692sf

Avg Unit Size 875sf

100% Occupied ATOS

8

Avg Unit Size 648sfPool

Probate Sale1 Unit Vacant ATOS

Master Metered Property

Sales

Averages

48 Parking Spaces

1031 Exchange41 Parking Spaces

Air Conditioning

6

7

COMPARABLE SALES

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