IPANEMA APARTMENTS O F F E R I N G M E M O R A N D U M | 120 8TH AVENUE • MIAMI, FL
NON-ENDORSEMENT AND DISCLAIMER NOTICE
P R E S E N T E D B Y
Arthur D. Porosoff
CRE Advisor Multifamily Hospitality DevelopmentNMHC PAC ContributorTel: (305) 733-6066Fax: (305) [email protected]: FL SL31603791200 Brickell Avenue #1470 Miami, FL 33131
N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E
Non-EndorsementsD Stone Realty LLC is not affiliated with, sponsored by, or endorsed by anycommercial tenant or lessee identified in this marketing package. The presence ofany corporation's logo or name is not intended to indicate or imply affiliation with, orsponsorship or endorsement by, said corporation of D Stone Realty LLC, itsaffiliates or subsidiaries, or any agent, product, service, or commercial listing of DStone Realty LLC, and is solely included for the purpose of providing tenant lesseeinformation about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONSULT YOUR D STONE REALTY LLC AGENT FOR MORE DETAILS.
DisclaimerTHIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS OFVALUE AND SHOULD NOT BE CONSIDERED AN APPRAISAL. This information hasbeen secured from sources we believe to be reliable, but we make norepresentations or warranties, express or implied, as to the accuracy of theinformation. References to square footage or age are approximate. Buyer mustverify the information and bears all risk for any inaccuracies. D Stone Realty LLC is aservice mark of D Stone Realty LLC. All rights reserved.
TABLE OF CONTENTS
SECTION
INVESTMENT OVERVIEW 01
AREA HIGHLIGHTS 02Aerials
Property Photo
FINANCIAL ANALYSIS 03Rent Roll Summary
Rent Roll Detail
Operating Statement
Pricing Detail
MARKET COMPARABLES 04Comparables
MARKETING OVERVIEW 05
P R E S E N T E D B Y
IPANEMA APARTMENTSMiami, FL
Arthur D. Porosoff
CRE Advisor Multifamily Hospitality DevelopmentNMHC PAC ContributorTel: (305) 733-6066Fax: (305) [email protected]: FL SL31603791200 Brickell Avenue #1470 Miami, FL 33131
INVESTMENTOVERVIEW
5
IPANEMA APARTMENTS 120 8TH AVENUE
6
IPANEMA APARTMENTS 120 8TH AVENUE
7
IPANEMA APARTMENTS 120 8TH AVENUE
8
IPANEMA APARTMENTS 120 8TH AVENUE
FINANCIAL ANALYSIS
RENT ROLL SUMMARY
10
IPANEMA APARTMENTS FINANCIAL ANALYSIS
Current Potential# of Avg Sq Rental Average Average Monthly Average Average Monthly
Unit Type Units Feet Range Rent Rent / SF Income Rent Rent / SF Income1 Bed +Den /1.5 Bathroom 20 730 $1,250 - $1,400 $1,344 $1.84 $26,875 $1,511 $2.07 $30,2252 Bedroom/2 Bathroom 42 846 $1,300 - $1,600 $1,539 $1.82 $64,625 $1,770 $2.09 $74,350Totals/Weighted Averages 62 809 $1,476 $1.83 $91,500 $1,687 $2.09 $104,575
Gross Annualized Rents $1,098,000 $1,254,900
1 Bed + Den/1.5 Bathroom32%
2 Bedroom/2 Bathroom68%
Unit Distribution
$1.81 SF
$1.81 SF
$1.82 SF
$1.82 SF
$1.83 SF
$1.83 SF
$1.84 SF
$1.84 SF
$1.85 SF
1200
1250
1300
1350
1400
1450
1500
1550
1600
1 Bed + Den/1.5 Bathroom 2 Bedroom/2 Bathroom
Rent per SF/MonthRe
nt p
er M
onth
Unit Type
Unit Rent
Rent Rent SF
RENT ROLL DETAIL
11
IPANEMA APARTMENTS FINANCIAL ANALYSIS
Current Current Potential PotentialSquare Rent / Rent / SF/ Rent / Rent/ SF/
Unit Unit Type Feet Month Month Month Month501 2 Bedroom/2 Bathroom 846 $1,525 $1.80 $1,750 $2.07502 1 Bed +Den /1.5 Bathroom 730 $1,350 $1.85 $1,525 $2.09503 2 Bedroom/2 Bathroom 846 $1,575 $1.86 $1,750 $2.07504 1 Bed +Den /1.5 Bathroom 730 $1,375 $1.88 $1,525 $2.09505 2 Bedroom/2 Bathroom 846 $1,600 $1.89 $1,750 $2.07506 2 Bedroom/2 Bathroom 846 $1,500 $1.77 $1,750 $2.07507 1 Bed +Den /1.5 Bathroom 730 $1,350 $1.85 $1,525 $2.09508 2 Bedroom/2 Bathroom 846 $1,500 $1.77 $1,800 $2.13509 2 Bedroom/2 Bathroom 846 $1,475 $1.74 $1,800 $2.13601 2 Bedroom/2 Bathroom 846 $1,525 $1.80 $1,800 $2.13602 1 Bed +Den /1.5 Bathroom 730 $1,325 $1.82 $1,525 $2.09603 2 Bedroom/2 Bathroom 846 $1,575 $1.86 $1,800 $2.13604 1 Bed +Den /1.5 Bathroom 730 $1,250 $1.71 $1,525 $2.09605 2 Bedroom/2 Bathroom 846 $1,600 $1.89 $1,800 $2.13606 2 Bedroom/2 Bathroom 846 $1,575 $1.86 $1,800 $2.13607 1 Bed +Den /1.5 Bathroom 730 $1,350 $1.85 $1,525 $2.09608 2 Bedroom/2 Bathroom 846 $1,600 $1.89 $1,800 $2.13609 2 Bedroom/2 Bathroom 846 $1,600 $1.89 $1,800 $2.13701 2 Bedroom/2 Bathroom 846 $1,600 $1.89 $1,800 $2.13702 1 Bed +Den /1.5 Bathroom 730 $1,350 $1.85 $1,525 $2.09703 2 Bedroom/2 Bathroom 846 $1,525 $1.80 $1,800 $2.13704 1 Bedroom/1.5 Bathroom 730 $1,375 $1.88 $1,525 $2.09705 2 Bedroom/2 Bathroom 846 $1,600 $1.89 $1,800 $2.13706 2 Bedroom/2 Bathroom 846 $1,500 $1.77 $1,800 $2.13707 1 Bed +Den /1.5 Bathroom 730 $1,375 $1.88 $1,525 $2.09708 2 Bedroom/2 Bathroom 846 $1,550 $1.83 $1,750 $2.07709 2 Bedroom/2 Bathroom 846 $1,600 $1.89 $1,600 $1.89801 2 Bedroom/2 Bathroom 846 $1,550 $1.83 $1,600 $1.89802 1 Bed +Den /1.5 Bathroom 730 $1,300 $1.78 $1,400 $1.92803 2 Bedroom/2 Bathroom 846 $1,600 $1.89 $1,600 $1.89804 1 Bed +Den /1.5 Bathroom 730 $1,325 $1.82 $1,400 $1.92805 2 Bedroom/2 Bathroom 846 $1,525 $1.80 $1,600 $1.89806 2 Bedroom/2 Bathroom 846 $1,600 $1.89 $1,600 $1.89807 1 Bed +Den /1.5 Bathroom 730 $1,350 $1.85 $1,400 $1.92808 2 Bedroom/2 Bathroom 846 $1,525 $1.80 $1,800 $2.13809 2 Bedroom/2 Bathroom 846 $1,500 $1.77 $1,800 $2.13901 2 Bedroom/2 Bathroom 846 $1,575 $1.86 $1,800 $2.13902 1 Bed +Den /1.5 Bathroom 730 $1,375 $1.88 $1,400 $1.92903 2 Bedroom/2 Bathroom 846 $1,400 $1.65 $1,800 $2.13904 1 Bed +Den /1.5 Bathroom 730 $1,350 $1.85 $1,400 $1.92905 2 Bedroom/2 Bathroom 846 $1,525 $1.80 $1,800 $2.13906 2 Bedroom/2 Bathroom 846 $1,550 $1.83 $1,800 $2.13907 1 Bed +Den /1.5 Bathroom 730 $1,375 $1.88 $1,575 $2.16908 2 Bedroom/2 Bathroom 846 $1,500 $1.77 $1,800 $2.13909 2 Bedroom/2 Bathroom 846 $1,525 $1.80 $1,800 $2.13
RENT ROLL DETAIL
12
IPANEMA APARTMENTS FINANCIAL ANALYSIS
Current Current Potential PotentialSquare Rent / Rent / SF/ Rent / Rent/ SF/
Unit Unit Type Feet Month Month Month Month1001 2 Bedroom/2 Bathroom 846 $1,600 $1.89 $1,800 $2.131002 1 Bed +Den /1.5 Bathroom 730 $1,350 $1.85 $1,575 $2.161003 2 Bedroom/2 Bathroom 846 $1,600 $1.89 $1,800 $2.131004 1 Bed +Den /1.5 Bathroom 730 $1,250 $1.71 $1,575 $2.161005 2 Bedroom/2 Bathroom 846 $1,575 $1.86 $1,800 $2.131006 2 Bedroom/2 Bathroom 846 $1,550 $1.83 $1,800 $2.131007 1 Bed +Den /1.5 Bathroom 730 $1,400 $1.92 $1,575 $2.161008 2 Bedroom/2 Bathroom 846 $1,550 $1.83 $1,800 $2.131009 2 Bedroom/2 Bathroom 846 $1,325 $1.57 $1,800 $2.131101 2 Bedroom/2 Bathroom 846 $1,300 $1.54 $1,800 $2.131102 1 Bed +Den /1.5 Bathroom 730 $1,350 $1.85 $1,575 $2.161103 2 Bedroom/2 Bathroom 846 $1,600 $1.89 $1,800 $2.131104 1 Bed +Den /1.5 Bathroom 730 $1,350 $1.85 $1,575 $2.161105 2 Bedroom/2 Bathroom 846 $1,550 $1.83 $1,800 $2.131106 2 Bedroom/2 Bathroom 846 $1,450 $1.71 $1,800 $2.131107 1 Bed +Den /1.5 Bathroom 730 $1,375 $1.88 $1,575 $2.161108 2 Bedroom/2 Bathroom 846 $1,525 $1.80 $1,800 $2.131109 2 Bedroom/2 Bathroom 846 $1,600 $1.89 $1,800 $2.13Total 50,862 $92,875 $1.83 $106,100 $2.09
OPERATING STATEMENT
13
IPANEMA APARTMENTS FINANCIAL ANALYSIS
Income Current Year 1 Per Unit Per SF Gross Potential Rent 1,254,900 1,292,547 20,848 25.78
Loss / Gain to Lease (156,900) 12.5% 0 0 0.00
Gross Current Rent 1,098,000 1,292,547 20,848 25.78
Physical Vacancy (43,920) 4.0% (51,702) 4.0% (834) (1.03)
Economic VacancyTotal Vacancy ($43,920) 4.0% ($51,702) 4.0% ($834) ($1)
Economic Occupancy 96.00% 96.00%
Effective Rental Income 1,054,080 1,240,845 20,014 24.75 Other Income
NSF Fees/Pet Fee/App. Fee/Late Fee 12,475 12,475 201 0.25 Parking Income 700 700 11 0.01
Total Other Income $13,175 $13,175 $213 $0.26
Effective Gross Income $1,067,255 $1,254,020 $20,226 $25.01
Expenses Current Year 1 Per Unit Per SF
Real Estate Taxes 148,619 221,865 3,578 4.43 Insurance 48,470 48,470 782 0.97
Util
ities Utilities - Electric 36,228 36,228 584 0.72
Utilities - Water & Sewer 39,126 39,126 631 0.78 Cleaning/Payroll 12,000 12,000 194 0.24
Op
erat
ing
Exp
ense
s
Trash Removal 11,202 11,202 181 0.22 Repairs & Maintenance 28,513 28,350 457 0.57 Landscaping 2,400 2,400 39 0.05 Pool Maintenance 3,721 3,721 60 0.07 Alarm Monitoring/Inspection 4,011 4,011 65 0.08 Elevator/Pest Control 11,340 11,340 183 0.23 Operating Reserves 12,000 12,000 194 0.24
Management Fee 32,018 3.0% 37,621 3.0% 607 0.75 Total Expenses $389,647 $468,333 $7,554 $9.34 Expenses as % of EGI 36.5% 37.3%
Net Operating Income $677,608 $785,687 $12,672 $15.67
TAX CARDS
14
IPANEMA APARTMENTS FINANCIAL ANALYSIS
PRICING DETAIL
15
IPANEMA APARTMENTS FINANCIAL ANALYSIS
Summary Operating Data
Price $16,500,000
Down Payment $16,500,000 100%
Number of Units 62 Income Current Year 1Price Per Unit $266,129 Gross Scheduled Rent $1,098,000 $1,292,547
Price Per SqFt $329.13 Less: Vacancy/Deductions 4.0% $43,920 4.0% $51,702
Rentable SqFt 50,132 Total Effective Rental Income $1,054,080 $1,240,845
Lot Size 0.48 Acres Other Income $13,175 $13,175
Approx. Year Built 2010 Effective Gross Income $1,067,255 $1,254,020
Less: Expenses 36.5% $389,647 37.3% $468,333
Net Operating Income $677,608 $785,687
Returns Current Year 1 Reno Cash Flow $677,608 $785,687CAP Rate 4.11% 4.76% 0.00% Debt Service $0 $0
GRM 15.03 12.77 0.00Net Cash Flow After Debt Service
4.11% $677,608 4.76% $785,687
Cash-on-Cash 4.11% 4.76% 0.00% Principal Reduction $0 $0
Debt Coverage Ratio N/A N/A N/A Total Return 4.11% $677,608 4.76% $785,687
Financing 1st Loan Expenses Current Year 1Loan Amount $0 Real Estate Taxes $148,619 $221,865Loan Type Free and Clear Insurance $48,470 $48,470Interest Rate N/A Utilities - Electric $36,228 $36,228Amortization N/A Utilities - Water & Sewer $39,126 $39,126Year Due N/A Cleaning/Payroll $12,000 $12,000
Loan information is subject to change. Contact your Marcus & Millichap Capital Corporation representative.
Trash Removal $11,202 $11,202
Repairs & Maintenance $28,513 $28,350
# Of Units Unit Type SqFt/Unit Scheduled Rents Market Rents Landscaping $2,400 $2,40020 1 Bed + Den/1.5 Bathroom 730 $1,344 $1,511 42 2 Bedroom/2 Bathroom 846 $1,539 $1,770 Pool Maintenance $3,721 $3,7210 Alarm Monitoring/Inspection $4,011 $4,0110 Elevator/Pest Control $11,340 $11,340
Operating Reserves $12,000 $12,000
IRR Year IRR UnleveredIRR
UnleveredManagement Fee $32,018 $37,621
5 0.00% 0.00% Total Expenses $389,647 $468,3337 0.00% 0.00% Expenses/Unit $6,285 $7,55410 -8.65% 0.00% Expenses/SF $7.77 $9.34
COMPARABLES
SALES COMPARABLES MAP
IPANEMA APARTMENTS(SUBJECT)
5810-5840 SW 57th Ave
Oleander Portfolio
1515 San Remo Ave & 1500 Venera Ave
800-801 Capri St
SALES COMPARABLES
1
2
3
4
SALES COMPARABLES MAP
17
IPANEMA APARTMENTS
(SUBJECT)
SALES COMPARABLES
18
IPANEMA APARTMENTS
$0.00
$70.00
$140.00
$210.00
$280.00
$350.00
$420.00
$490.00
$560.00
$630.00
$700.00
5810-5840SW 57th
Ave
OleanderPortfolio
1515San RemoAve & 1500Venera Ave
800-801Capri St
Average Price Per Square Foot
Avg. $304.09
$0
$40,000
$80,000
$120,000
$160,000
$200,000
$240,000
$280,000
$320,000
$360,000
$400,000
5810-5840SW 57th
Ave
OleanderPortfolio
1515San RemoAve & 1500Venera Ave
800-801Capri St
Average Price Per Unit
Avg. $247,362
1
Units Unit Type
Close Of Escrow: 3/28/2019 46 1 Bdr 1.5 Bath
Sales Price: $21,000,000 1 2 Bdr 1 Bath
Price/Unit: $259,259 24 2 Bdr 2 Bath
Price/SF: $292.62 1 2 Bdr 3 Bath
Total No. of Units: 81 9 3 Bdr 2 Bath
Year Built: 1965
NOTES- Zoning: RU-4
5810-5840 SW 57TH AVE5810-5840 SW 57th Ave, Miami, FL, 33143
Units Unit Type
Close Of Escrow: 12/14/2018 37 1 Bdr 1 Bath
Sales Price: $12,100,000 30 2 Bdr 1 Bath
Price/Unit: $180,597
Price/SF: $105.09
Total No. of Units: 67
Year Built: 2009
2
NOTES
- Zoning: T6-8 O
OLEANDER PORTFOLIO1970 NW 7th St & 406 NW 22nd Ave, Miami, FL, 33125
SALES COMPARABLES
19
IPANEMA APARTMENTS
Units Unit Type
Close Of Escrow: 11/30/2018 9 Studio 1 Bath
Sales Price: $30,000,000 67 1 Bdr 1 Bath
Price/Unit: $344,828 12 2 Bdr 1 Bath
Price/SF: $617.16
Total No. of Units: 87
Year Built: 1965
3
NOTES
- Zoning: A-17 & A-13
1515 SAN REMO AVE & 1500 VENERA AVE1515 San Remo Ave & 1500 Venera Ave, Miami, FL, 33146
4
Units Unit Type
Close Of Escrow: 10/30/2017 2 Studio 1 Bath
Sales Price: $8,600,000 10 1 Bdr 1 Bath
Price/Unit: $204,762 30 2 Bdr 1 Bath
Price/SF: $201.47
Total No. of Units: 42
Year Built: 1969
NOTES
- Zoning: CB
800-801 CAPRI ST 800-801 Capri St, Coral Gables, FL, 33134
IPANEMA APARTMENTS(SUBJECT)
328 NW 12th Ave
628 SW 16th Ave
1145 SW 6th St
624 SW 1st St
450 SW 3rd St
218 NW 12th Ave
1530 SW 2nd St
828 SW 2nd St
134 SW 7th Ave
1375 SW 6th St
735 SW 2nd St
626 SW 4th St
833 SW 13th Ct
900 SW 7th St
637 SW 3rd Ct
102 SW 6th Ave
420 SW 12th Ave
1760 NW 7th St
4
7
8
9
11
20
12
14
15
16
17
13
18
10
4
7
8
9
11
12
14
15
16
17
13
18
10
1
2
3
5
6
RENT COMPARABLES MAP
20
IPANEMA APARTMENTS
(SUBJECT)
RENT COMPARABLES
21
IPANEMA APARTMENTS
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
$1,800
$2,000
LittleHavanaPortfolio
218 NW 12thAve
1530SW 2nd St
828SW 2nd St
134 SW 7thAve
1375SW 6th St
735SW 2nd St
626SW 4th St
833SW 13th Ct
900SW 7th St
637SW 3rd Ct
2 Bedroom
2/1 Avg. $1,5502/2 Avg. $1,617
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
$1,800
$2,000
LittleHavanaPortfolio
328 NW 12thAve
628 SW 16thAve
1145SW 6th St
624SW 1st St
450SW 3rd St
1 Bedroom
Avg. $1,360
$0
$300
$600
$900
$1,200
$1,500
$1,800
$2,100
$2,400
$2,700
$3,000
LittleHavanaPortfolio
102 SW 6thAve
420 SW 12thAve
1760NW 7th St
3 Bedroom
Avg. $2,080
AVERAGE RENT - MULTIFAMILY
RENT COMPARABLES
22
IPANEMA APARTMENTS
YEAR BUILT: 2010
rentpropertyname1rentpropertyaddress1
Unit Type Units SF Rent Rent/SF
1 Bdr 1.5 Bath 21 730 $1,250-$1-400 $1.84
2 Bdr 2 Bath 42 846 $1,300 - $1,600 $1.82
Total/Avg. 63 807 $1.83
IPANEMA APARTMENTS120 8th Avenue, Miami, FL
YEAR BUILT: 2008
1
Unit Type Units SF Rent Rent/SF
1 Bdr 1 Bath 1 650-650 $1,250-$1,250 $1.92
Total/Avg. 1 650 $1,250 $1.92
328 NW 12TH AVE328 NW 12th Ave, Miami, FL, 33128
2
YEAR BUILT: 1926
Unit Type Units SF Rent Rent/SF
1 Bdr 1 Bath 1 650-650 $1,400-$1,400 $2.15
Total/Avg. 1 650 $1,400 $2.15
628 SW 16TH AVE628 SW 16th Ave, Miami, FL, 33135
RENT COMPARABLES
23
IPANEMA APARTMENTS
YEAR BUILT: 2007
3
Unit Type Units SF Rent Rent/SF
1 Bdr 1 Bath 1 621-621 $1,300-$1,300 $2.09
Total/Avg. 1 621 $1,300 $2.09
1145 SW 6TH ST 1145 SW 6th St, Miami, FL, 33130
YEAR BUILT: 2009
4
Unit Type Units SF Rent Rent/SF
1 Bdr 1 Bath 1 605-605 $1,400-$1,400 $2.31
Total/Avg. 1 605 $1,400 $2.31
624 SW 1ST ST 624 SW 1st St, Miami, FL, 33130
5
YEAR BUILT: 1973
Unit Type Units SF Rent Rent/SF
1 Bdr 1 Bath 1 663-663 $1,450-$1,450 $2.19
Total/Avg. 1 663 $1,450 $2.19
450 SW 3RD ST 450 SW 3rd St, Miami, FL, 33130
RENT COMPARABLES
24
IPANEMA APARTMENTS
YEAR BUILT: 2007
6
Unit Type Units SF Rent Rent/SF
2 Bdr 1 Bath 1 720-720 $1,600-$1,600 $2.22
Total/Avg. 1 720 $1,600 $2.22
218 NW 12TH AVE 218 NW 12th Ave, Miami, FL, 33128
YEAR BUILT: 1973
7
Unit Type Units SF Rent Rent/SF
2 Bdr 1 Bath 1 692-692 $1,500-$1,500 $2.17
Total/Avg. 1 692 $1,500 $2.17
1530 SW 2ND ST 1530 SW 2nd St, Miami, FL, 33135
8
YEAR BUILT: 1966
Unit Type Units SF Rent Rent/SF
2 Bdr 1 Bath 1 682-682 $1,500-$1,500 $2.20
Total/Avg. 1 682 $1,500 $2.20
828 SW 2ND ST 828 SW 2nd St, Miami, FL, 33130
RENT COMPARABLES
25
IPANEMA APARTMENTS
YEAR BUILT: 2005
9
Unit Type Units SF Rent Rent/SF
2 Bdr 1 Bath 1 700-700 $1,550-$1,550 $2.21
Total/Avg. 1 700 $1,550 $2.21
134 SW 7TH AVE 134 SW 7th Ave, Miami, FL, 33130
YEAR BUILT: 2018
10
Unit Type Units SF Rent Rent/SF
2 Bdr 1 Bath 1 775-775 $1,600-$1,600 $2.06
Total/Avg. 1 775 $1,600 $2.06
1375 SW 6TH ST 1375 SW 6th St, Miami, FL, 33135
11
YEAR BUILT: 2009
Unit Type Units SF Rent Rent/SF
2 Bdr 2 Bath 1 687-687 $1,550-$1,550 $2.26
Total/Avg. 1 687 $1,550 $2.26
735 SW 2ND ST735 SW 2nd St, Miami, FL, 33130
RENT COMPARABLES
26
IPANEMA APARTMENTS
YEAR BUILT: 2014
12
Unit Type Units SF Rent Rent/SF
2 Bdr 2 Bath 1 910-910 $1,575-$1,575 $1.73
Total/Avg. 1 910 $1,575 $1.73
626 SW 4TH ST626 SW 4th St, Miami, FL, 33130
YEAR BUILT: 2015
13
Unit Type Units SF Rent Rent/SF
2 Bdr 2 Bath 1 800-800 $1,660-$1,660 $2.08
Total/Avg. 1 800 $1,660 $2.08
833 SW 13TH CT 833 SW 13th Ct, Miami, FL, 33135
14
YEAR BUILT: 2016
Unit Type Units SF Rent Rent/SF
2 Bdr 2 Bath 1 978-978 $1,650-$1,650 $1.69
Total/Avg. 1 978 $1,650 $1.69
900 SW 7TH ST 900 SW 7th St, Miami, FL, 33130
RENT COMPARABLES
27
IPANEMA APARTMENTS
YEAR BUILT: 2003
15
Unit Type Units SF Rent Rent/SF
2 Bdr 2 Bath 1 731-731 $1,650-$1,650 $2.26
Total/Avg. 1 731 $1,650 $2.26
637 SW 3RD CT 637 SW 3rd St, Miami, FL, 33130
YEAR BUILT: 2005
16
Unit Type Units SF Rent Rent/SF
3 Bdr 2 Bath 1 1,004-1,004 $2,000-$2,000 $1.99
Total/Avg. 1 1,004 $2,000 $1.99
102 SW 6TH AVE102 SW 6th Ave, Miami, FL, 33130
RENT COMPARABLES
28
IPANEMA APARTMENTS
17
YEAR BUILT: 2010
Unit Type Units SF Rent Rent/SF
3 Bdr 2 Bath 1 1,103-1,103 $1,880-$1,880 $1.70
Total/Avg. 1 1,103 $1,880 $1.70
420 SW 12TH AVE 420 SW 12th Ave, Miami, FL, 33130
YEAR BUILT: 2011
18
Unit Type Units SF Rent Rent/SF
3 Bdr 2 Bath 1 1,400-1,400 $2,300-$2,300 $1.64
Total/Avg. 1 1,400 $2,300 $1.64
1760 NW 7TH ST 1760 NW 7th St, Miami, FL, 33125
MARKETING TEAM
AGENT BIO
30
Awarded Emerging leaders at NMHC in Boca Raton (2013)Investment CRE sales of $967,000,000 volume sides (2005-Current)Transaction volume: 247 Trades // 87 Miami BeachNational Achievement Award @ M&M (2012-2019 )Top Multi Family Agent Miami M&M between (2009-2019)Developed team infrastructure and mentored 24 agents throughout careerInstituted technology platform to increase efficiency for team architecture
BioEducation
www.porosoff.comSaddleback CollegeUniversity Of Southern California Entrepreneurship / Economics
Created, developed and sold a California Based Fine Arttechnology firm to web giant AltaVista.com (2001)Purchased , operate and grew 46M CRE family officeportfolio in South Florida comprising of over 200uMultifamily / Retail / Hospitality (Current)
Awards
CRE Advisor Multifamily Hospitality DevelopmentNMHC PAC ContributorTel: (305) 733 - [email protected] www.porosoff.comLicense: FL SL3160379
316+MULTIFAMILY/ DEVELOPMENT/
HOSPITALITY/ RETAIL / NNN TRANSACTIONS CLOSED
Professional Affiliations
PersonalMarried to Elizabeth Dionesia /Father of Milana Jolie (3) & Chloe Angelique (13)
English / Spanish / Comprehension Portuguese / Italian
Porosoff + Partners Vision Statement
"We are committed to bring the highest level of advisory and strategy to investors of all calibers. Ensuring the preservation of wealth and
capital for generations."
ARTHUR D. POROSOFF
MULTIFAMILYHOSPITALITYSPECIALISTS
National Multi Housing Council NMHCPolitical Action Committee (PAC) NMHC Contributor Washington DCOrganized (BID) business improvement district in Little HavanaActively involved in development of (JCC) Jewish Community Center in Brickell for Beth David Synagogue
MARKET OVERVIEW
DEMOGRAPHICS
Source: © 2018 Experian
32
POPULATION 1 Miles 3 Miles 5 Miles 2023 Projection
Total Population 20,057 99,676 298,316
2018 Estimate
Total Population 19,094 96,549 292,587
2010 Census
Total Population 17,619 87,503 266,493
2000 Census
Total Population 19,434 87,605 265,812
Daytime Population
2018 Estimate 14,428 85,244 294,586
HOUSEHOLDS 1 Miles 3 Miles 5 Miles 2023 Projection
Total Households 9,207 46,926 127,274
2018 Estimate
Total Households 8,628 44,938 121,907
Average (Mean) Household Size 2.17 2.13 2.34
2010 Census
Total Households 7,922 40,586 110,952
2000 Census
Total Households 8,246 39,747 108,779
Growth 2015-2020 6.71% 4.42% 4.40%
HOUSING UNITS 1 Miles 3 Miles 5 Miles Occupied Units
2023 Projection 9,207 46,926 127,274
2018 Estimate 9,869 59,522 147,419
Owner Occupied 3,083 21,003 49,547
Renter Occupied 5,545 23,935 72,360
Vacant 1,241 14,584 25,512
Persons In Units
2018 Estimate Total Occupied Units 8,628 44,938 121,907
1 Person Units 35.94% 38.33% 37.10%
2 Person Units 33.41% 33.48% 29.90%
3 Person Units 15.55% 13.70% 13.91%
4 Person Units 9.67% 8.93% 9.46%
5 Person Units 3.91% 3.69% 5.04%
6+ Person Units 1.51% 1.86% 4.59%
HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles 2018 Estimate
$200,000 or More 5.98% 10.07% 6.52%
$150,000 - $199,000 3.82% 5.32% 4.01%
$100,000 - $149,000 8.07% 10.34% 8.86%
$75,000 - $99,999 10.56% 9.85% 9.25%
$50,000 - $74,999 14.25% 14.61% 14.66%
$35,000 - $49,999 14.78% 12.47% 13.47%
$25,000 - $34,999 11.32% 10.23% 11.00%
$15,000 - $24,999 14.41% 12.40% 13.43%
Under $15,000 16.82% 14.71% 18.80%
Average Household Income $72,012 $94,192 $75,623
Median Household Income $42,026 $50,258 $42,075
Per Capita Income $32,571 $43,879 $31,781
POPULATION PROFILE 1 Miles 3 Miles 5 Miles Population By Age
2018 Estimate Total Population 19,094 96,549 292,587
Under 20 18.17% 18.45% 20.48%
20 to 34 Years 20.76% 18.12% 22.77%
35 to 39 Years 8.87% 7.79% 7.54%
40 to 49 Years 17.17% 15.83% 14.27%
50 to 64 Years 21.06% 21.43% 20.08%
Age 65+ 13.98% 18.39% 14.85%
Median Age 41.23 43.49 39.46
Population 25+ by Education Level
2018 Estimate Population Age 25+ 14,688 74,597 214,462
Elementary (0-8) 6.36% 4.84% 7.50%
Some High School (9-11) 5.96% 5.89% 9.10%
High School Graduate (12) 24.10% 21.24% 24.40%
Some College (13-15) 17.26% 17.00% 17.19%
Associate Degree Only 10.41% 8.55% 8.21%
Bachelors Degree Only 20.06% 23.48% 18.53%
Graduate Degree 13.89% 17.72% 12.85%
Population by Gender
2018 Estimate Total Population 19,094 96,549 292,587
Male Population 49.67% 49.14% 49.85%
Female Population 50.33% 50.86% 50.15%
P R E S E N T E D B Y
Arthur D. Porosoff
CRE Advisor Multifamily Hospitality DevelopmentNMHC PAC ContributorTel: (305) 733-6066Fax: (305) [email protected]: FL SL31603791200 Brickell Avenue #1470 Miami, FL 33131
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