12 LUXURY MULTIFAMILY...for fully stabilized new construction apartments, the prudent investor can potentially resell the fully leased project for approximately $5,850,000. Assuming

12 LUXURY MULT IFA MILY UNIT S FOR SALE

THE MILL AT BROADWAY PAGE 11

Get all the prestige of a high-end residence in the city and all the

convenience of a private home. Imagine living just five minutes

from the Golden 1 Center, with easy access to the best sports

events and shows. Not only will you easily get to the game,

you’ll also be the place where the after-game party gathers.

rooftop decks, but having a great view doesn’t mean you have

to sacrifice on the day-to-day conveniences. They also provide

luxurious living with a house designed for entertainment.

Penthomes are our most spacious homes starting at about 1,100

square feet and expanding to 1,500 square feet. Each four-story

building contains six homes with the kitchen, living room, private

outdoor balcony, bedrooms, and bathrooms all on a single floor

and a private garage with secure, direct access to your home. All

residences are serviced by a controlled-access elevator, giving

only you and your neighbor access to your floor. Residences

rooftop decks and mezzanines and two-car garages.

Contents of this magazine are intended for information only. All information (including but not limited to prices, availability, incentives, floor plans, site

plans, features, standards and options, assessments and fees, planned amenities, programs, conceptual artist renderings, and community development

plans) is not guaranteed and remains subject to change or delay without notice. Maps and plans are not to scale and all dimensions are approximate.

2131 CAPITOL, STE 100 SACRAMENTO, CA 95816

916.573.3300 TURTONCOM.COM

© 2020 The information contained in the Offering memorandum is confidential and is not to be used for any other purpose or made available to other persons without the express written consent of Turton Commercial Real Estate (“TCRE”), Ken Turton or the owner. The material contained herein is based upon information supplied by owner in coordination with information provided by TCRE from sources it deems reasonably reliable. Summaries of documents are not intended to be comprehensive or all-inclusive but rather a general outline of the provisions contained herein and subject to more diligent investigation on the part of the prospective purchaser. No warranty, expressed or implied, is made by owner, TCRE or any other respec-tive affiliates, as to the accuracy or completeness of the information contained herein or any other written or aral communication provided to a prospective purchaser in the course of its evaluation of the Property. No legal liability is assumed or to be applied in connection with the information or such other communication. Without limiting the general nature of the foregoing, the information shall not be deemed a representation of the state of affairs of the Property or constitute an indication that there has been no change in the business affairs, specific finances or specific condition of the Property since the date of preparation of the information. Prospective purchaser shall make their own projections and conclusions without reliance upon the materials contained herein and conduct their own independent due diligence, inspection and review of the Property, including but not limited to engineering and environmental inspec-tions, to determine the condition of the Property and the existence of any potential hazardous material located at the site.

SCOTT KINGSTONVICE PRESIDENT - LIC. 01485640916.573.3309SCOT [email protected]

KEN TURTONPRESIDENT - LIC. [email protected]

ZACHARY HOOKERDIRECTOR - LIC. [email protected]

0 2

Turton Commercial Real Estate is pleased to bring

to market The Penthomes at The Mill at Broadway, a

high-end and modern design 12-unit, 14,960 square

foot (“SF”) fee simple multi-family apartment

complex in the heart of The Mill at Broadway

residential development project, located in a federal

Opportunity Zone.

The Penthomes are comprised of two six-plexes for

a total of twelve luxury apartments overlooking the

public park and dog park, each with private, enclosed

parking garages. All of the luxury apartments are

located on the second, third or fourth floor. The

fourth floor Penthomes include mezzanine loft space

and roof deck patios with spectacular views of

Sacramento’s urban core and The Mill at Broadway’s

amenities. Best-in-class finishes include balconies,

luxury vinyl flooring in living areas, upgraded padded

S e c t i o n O n e : T he Opp o r tuni t y

0 3

carpet in the bedrooms, and Daltile tile flooring in

the bathrooms. Kitchens include 2 centimater quartz

counters, stainless steel appliances, Whirlpool front

load washer/dryers and and an integrated smart

home system. Almost all comparable apartments

in the urban core average rent starts at $3.00 per

square foot per month.

The Penthomes are offered at $4,550,000,

representing a 6% cap rate on conservative pro

forma rents of $2.44 per SF per month and generous

operating expenses of $9.36 per SF annually.

The 2 Penthomes consist of 12 total units of which

four are 1,110 square feet, four are 1,156 square

feet, two are 1,445 square feet and two are 1,503

square feet. The opportunity provides an investor

with an opportunity to fully lease the 12-unit project

at market rate rents and place permanent financing

on it at 3.25% interest, providing a healthy 7.5%

cash-on-cash return. Alternatively, an investor

can re-sell the fully leased Penthomes. Based on

historical disposition capitalization rates of 4.5%

for fully stabilized new construction apartments,

the prudent investor can potentially resell the

fully leased project for approximately $5,850,000.

Assuming five months to stabilize the property, and

depending on buyer leverage, a cash on cash return

approaching 100% in one year may be achievable.

Alternatively, a future owner can resell individual

units as condominiums.

We are confident that after learning more about

The Penthomes at The Mill at Broadway, you will

agree the property represents one of the best and

easiest value-add investment opportunities in the

Sacramento region!

THIS IS A RARE MULTIFAMILY OPPORTUNITY IN SACRAMENTO’S URBAN CORE

THE OPPORTUNITY$4.55 M12

SALES PRICEUNITS

2SIXPLEXES

6%PROFORMA CAP RATE

General:

Number of Units: 12

4 Units, 2 Bed, 2 Bath: 1,110 SF

4 Units, 2 Bed, 2 Bath: 1,156 SF

2 Units, 3 Bed, 3 Bath, Rooftop Patio: 1,445 SF

2 Units, 3 Bed, 3 Bath, Rooftop Patio: 1,503 SF

(plus rooftop patio)

Year Built: 2020

Stories: 4.5

Net Rentable Area: 14,960 SF

Zoning: R-4-PU

Covered Parking: 10 single stalls for 2nd & 3rd floor units

2 tandem stalls for 4th floor units

Structure: 4.5 story wood framed structure with

stucco and masonry veneer

Roofing: GAF 60 mil. white flat roof with 2 year

installer warranty, 30 year manufacturer

warranty

Solar: 7.85 kWp with 24 panels (for common

areas only) for each building

Site:

Addresses: 429 Tailoff Lane (Building 108)

455 Tailoff Lane (Building 107),

Sacramento, CA 95818

County: Sacramento, USA

APNs:

009-0410-027-0001 through 0006

(429 Tailoff Lane, Building 108)

009-0410-026-0001 through 0006

(455 Tailoff Lane, Building 107)

Utilities:

Electricity: SMUD

Water: City of Sacramento

Sewer/Stormwater: City of Sacramento

Gas: Pacific Gas & Electric

Condominium Mapped: Yes (12 units)

PROPERTY DETAILS

0 6

Section One: The Opportunity

MODERN FINISHES & MODERN FLOORPLANS FOR A MODERN INVESTMENT

S e c t i o n O n e : T he Opp o r tuni t y

0 8

A VARIETY OF SHARED SPACES FOR EVERYDAY MODERN LIVING

Residential Systems:

Smart Home System: Zero-Wire and Liberty Bell

Ultrasync Keypad

Ultra Secure Mini Dome Camera

Wireless Window Contacts

Hard Wired Door Contact

HVAC: Electric, individually metered

Life Safety: Fully sprinklered with fire life safety

system

Elevator:

Water Heaters: Tankless

Interiors:

Walls and Ceilings: Paint

Cabinets: Custom slab door (satin white)

Backsplash: Full height throughout kitchen

Kitchen Appliances: Stainless steel

Laundry Appliances: Whirlpool 4.3 cubic foot front Load

closet-depth washer

Whirlpool 7.4 cubic foot front load long

vent gas dryer

Flooring:

Living Areas: Luxury Vinyl Plank

Bath Areas: Tile

Bedrooms: Carpet

Counters:

Kitchen: 2 CM quartz with full backsplash and 3CM

laminated mitered edge

Bath Areas: 2 CM e-Stone with 4” backsplash and 3

CM laminated square edge

PROPERTY DETAILS CONT.

1 0

Section One: The Opportunity

BEST-IN-CLASS FINISHES INCLUDING BALCONIES, LUXURY FLORRING AND HIGH-END KITCHEN APPLIANCES

The Mill at Broadway is one of the most transformative

development projects in urban Sacramento.

Before Downtown had high-rises, before Broadway

was Broadway, before hops farms were transformed

into Land Park, a young man opened a sawmill.

Nestled on the southern border of downtown where

the river curves and heads south, this sawmill

brought new life to the region. The warm rich smell

of pine and the bright metallic whir of saw blades

flourished. There, they turned the raw felled trees

S e c t i o n Tw o : T he D eve lopmen t

1 1

of the Sierra Nevada into fruit crates that travelled

the world. These crates were filled with tomatoes,

almonds, pears, asparagus, peaches, and much

more. Some crossed the country by train, others

ventured to Europe by boat, and many filled the

tables of Sacramento homes.

As time progressed, Sacramento’s grid filled out and

Land Park spread north to meet it at Broadway. The

sawmill began to evolve, making door and window

frames, then lumber and ornate crown molding, and

the company continued to grow.

Today, The Mill at Broadway completes the

metamorphosis as beautiful new homes inherit the

sawmill’s site. Like the final piece in a jigsaw puzzle,

it weaves the grid and Land Park communities

back together bringing a sense of completeness

and renewed life. In total, The Mill at Broadway

has more than 470 for sale homes and numerous

shared amenities creating a Sacramento landmark

community.

AMENITIES INCLUDE: ELECTRIC VEHICLE SHARING, DOG PARK, MILL PARK, MILL PLAZA, URBAN FARM, EVENT LAWN,

MILL AT BROADWAY3.5470

ACRE PARKHOMES

32ACRES

70MILES OF TRAILS

FLEXIBLE COURTS, PICNIC AREA, CYCLING/JOGGING LOOP

Lane Homes

Cottages

Penthomes #107-108

Courts

Bungalows

Garden Villas

Market Club

Dog ParkEvent Lawn

Neighborhood CenterThe Mill Park

Picnic AreaBocce Ball

Section Two: The Development

URBAN FARM - COMING SOON!Farm-to-table is going to get a little cozier with The

Mill’s Urban Farm project.

Crops will be grown on 2.5 acres within walking

distance of The Penthomes. Each resident can

support sustainable land use and local growers

by buying food harvested from the Urban Farm

operated by a Sacramento-based non-profit, the

Food Literacy Center. Each resident also has the

option of cultivating their own fruits and vegetables,

even flowers, in their very own plot.

A section of the garden will be reserved as a teaching

environment for school students and community

residents so they can increase their learning as well

as their yield.

BIKE PATHS AND PARK Urban community living shouldn’t feel cramped or

constricting. There’s room to run, bike, and play at

the beautifully designed 4.5 acre Mill Park. In the

center of the park is the Crate House, an 11,000

square foot neighborhood center. Play bocce ball,

shuffleboard or beach volleyball in one of the three

courts on the southeeast corner of the park.

Residents can walk their dog at the large dog park.

Or they can track their time and distance with the 1/4

mile bike and jogging loop that surrounds the park. A

series of meandering paths connect all elements of

the park. Setzer Run Trail will connect you up to the

American River Bike trail, Sacramento Marina and

Miller Park, leading you to Downtown Sacramento,

the river or the foothills.

PUBLIC ART SCENE Public art expresses a community’s personality

to its guests and brings a sense of identity to its

residents. Sacramento-based artist Jose Di Gregorio

painted a 30-foot tall wood-mill hopper at The Mill at

Broadway as part of Sacramento’s Wide Open Walls

mural festival. The Mill has also added a new mural

off of 5th Street across from the community by local

artist Brianne Chaney. park as a repurposed shade

areas to cool off heated walkers, joggers and cyclists

The Mill at Broadway’s public art is a declaration

that The Mill is completely unique.

1 3

A MODERN VILLAGE

ON-SITE ART PIECE BY JOSE DIGREGORIO

ON-SITE ART PIECE BY JOSE DIGREGORIO

Get all the prestige of a high-end residence in the

city and all the convenience of a private home.

Future residents will live just five minutes from the

Golden 1 Center, with easy access to the best sports

events and shows. Not only will they easily get to the

game, they’ll also be the place where the after-game

party gathers.

The Penthomes offer luxurious views with mezzanine

S e c t i o n T h r e e : T he P r op e r t y

1 5

plazas and rooftop decks, but having a great view

doesn’t mean you have to sacrifice on the day-

to-day conveniences. They also provide luxurious

living with a house designed for entertainment. The

Penthomes are incredibly spacious, starting at about

1,100 square feet and expanding to more than 1,500

square feet with a large rooftop balcony. Each four-

story building contains six homes with the kitchen,

living room, private outdoor balcony, bedrooms,

and bathrooms all on a single floor and a private

garage with secure, direct access to each home.

All residences are serviced by a controlled-access

elevator, giving only the resident and their neighbor

access to your floor. Residences on the fourth floor

offer voluminous living rooms with spacious rooftop

decks and mezzanines and two-car garages.

THE PENTHOMES1,100 - 1,5004

SF FLOOR PLANSBUILDINGS TOTAL

2BUILDINGS FOR SALE

FLOOR PLANS

Sect ion Four : F l oo r P lans

1 7

GARAGE + ELEVAT ION

42FLOOPLANSPENTHOMES

12UNITS

2GARAGES

GARAGE

RESIDENCE 1

RESIDENCE 2

RESIDENCE 4

GARAGE

RESIDENCE 1

RESIDENCE 2

RESIDENCE 3


1 9GARAGE LEVEL

ELEVATION

RESIDENCE ONE 1,110 sq. ft. 1 Floor 2 Bedrooms 2 Baths 1-2 Car Garage

PENTHOMES - RES IDENCE ONE

21,100BEDROOMSSQUAREFEET

1STORY

2BATHS

1-2CAR GARAGE

4OF THESE UNITS

PENTHOMES - RES IDENCE TWO

21,156BEDROOMSSQUARE FEET

1FLOOR

2BATHS

1-2CAR GARAGE

4OF THESE UNITSRESIDENCE TWO 1,156 sq. ft. 1 Floor 2 Bedrooms 2 Baths 1-2 Car Garage

GARAGE LEVEL

ELEVATION


2 1

PENTHOMES - RES IDENCE THREE

GARAGE LEVEL

MEZZANINE LEVEL

RESIDENCE THREE

ELEVATION

1,445 sq. ft. 2 Floors 2/3 Bedrooms 3 Baths 2 Car Garage2/31,445BEDROOMSSQUARE FEET

2FLOORS

3BATHS

2CAR GARAGE

2OF THESE UNITS

GARAGE LEVEL

MEZZANINE LEVEL

RESIDENCE THREE

ELEVATION

1,445 sq. ft. 2 Floors 2/3 Bedrooms 3 Baths 2 Car Garage


2 3

PENTHOMES - RES IDENCE FOUR

MEZZANINE LEVEL

RESIDENCE FOUR

GARAGE LEVEL

ELEVATION

1,503 sq. ft. 2 Floors 2/3 Bedrooms 3 Baths 2 Car Garage2/31,503BEDROOMSSQUARE FEET

2FLOORS

3BATHS

2CAR GARAGE

MEZZANINE LEVEL

RESIDENCE FOUR

GARAGE LEVEL

ELEVATION

1,503 sq. ft. 2 Floors 2/3 Bedrooms 3 Baths 2 Car Garage

2OF THESE UNITS

2 5

Section Five: The Location

On the cusp of Land Park and Southside Park

neighborhoods, but soon to be a destination all its

own, Sacramento’s East Marina district, as a portion

of the Broadway Corridor, is coming alive.

Several key investment/developments have been

made nearby and the path of progress is beginning

to accelerate. The street improvement program,

the Broadway/WestSac Bridge, development of

numerous high-end mixed-use projects and new

retail/restaurant amenities are all helping to breathe

new life into this iconic blvd.

City Councilman Steve Hansen says he sees

Broadway as the next major downtown corridor

to modernize now that K Street and R Street are

maturing corridors. “The opportunities really abound

here” Hansen said.

BUILDING LOCATIONBroadway i s Sacramento ’s nex t majo r downtown co r r ido r

1 0

NEARBY MURAL BY BRYAN VALENZUELA

GREAT FOOD Broadway is home to an eclectic and multicultural culinary scene with some of the most-

loved restaurants in Downtown Sacramento, some with a long and unique local history.

These include Tower Cafe, Willie’s Burgers, Iron Steakhouse, Jamie’s Broadway Grille, and

other Ethiopian, Thai, Indian, Japanese, Vegetarian, and Mexican restaurants. Just off

Broadway down Riverside Avenue, you will find old favorites like the Riverside Clubhouse

and Vic’s Ice Cream, as well as new up-and-coming places like Massulo Pizza.

BROADWAY BRIDGE The Broadway Bridge is a government-led improvement that will connect Broadway to

West Sacramento over the Sacramento River. This will allow convenient walkable access

to the various amenities available in West Sacramento.

SELLAND’S MARKET CAFE Selland’s Market Cafe – a Sacramento favorite – opened their Broadway location in late

2017. This provides an additional place to eat and enjoy along Broadway, just a short walk

or ride from the subject property. Whether dining in or bringing food back home, Selland’s

is sure to impress.

WEEKLY FARMERS MARKET Sacramento’s largest weekly farmers market is held right off of X Street in the Broadway

Corridor. A unique selection of items are available, including: the finest fruits, vegetables,

baked goods, flowers, herbs, juices and cheeses.

PEDESTRIAN IMPROVEMENTS The city has plans to narrow the busy thoroughfare from two lanes in each direction to

one with center turn lanes in order to slow traffic and encourage a main-street feel where

people can ride bikes and restaurants can use the sidewalks to create patio seating. The

early reaction among business, property owners and nearby residents has been largely

positive.

Below are some of the exciting developments and amenities advancing the greater Broadway region and the entire urban core.

NEARBY DEVELOPMENT PROJECTS

BROADWAY REDUX PHASE I & II Local infill builder Indie Capital is nearing completion of Phase II of their Broadway

Redux project, a 9-home urban infill project. They are completing the remaining

5 units and have sold out prior to completion. Designed by Johnsen Schmaling

Architects., the award-winning designs are helping to bolster the Broadway corridor

as an exciting place to be.

ONYX BOUTIQUE APARTMENTS Directly north of (and essentially adjacent to) the subject property is ONYX, a new

41-unit boutique apartment development that features modern design, a community

courtyard for gathering, and is tailored to foodies and urban enthusiasts.

THE TOWER THEATRE The Tower Theatre is one of Sacramento’s most iconic landmarks that opened its

doors in 1938. More than 75 years later, it is still the premier place to catch some of

the best independent and foreign films within 100 miles.

1817 BROADWAYLocal developers will develop a 74 unit over 8,500 square feet of retail mixed-use

development at the northwest corner of 19th and Broadway.

16TH AND BROADWAYLocal developer Jon Gianiulias plans to construct a five-story, 60,00 square foot

mixed-use development on the iconic corner where Tower Records used to be. This

project includes 14,205 square feet of retail space and 53 multi-family units.

1901 BROADWAYBay Area-based affordable housing developer EAH Housing has submitted plans for two

five-story buildings at 1901 Broadway, with 150 apartments and about 1,700 square feet of

retail space.

2 7


BROADWAY

R

FREEPORT

18th

19th

Upper Land Park

Masullo Pizza

Jamie’s Bar & Grill

DMV Headquarters

Light Rail Station

Miller Park/Marina

Southside ParkState Capitol

Golden 1 Center

Roosevelt Park

Fremont Park

Target

Selland’s MarketBike Dog Brewing

STAB! Comedy ClubNew Helvetia Brewing

Broadway Redux

The Mill

Ice Blocks Tower Theatre

Willie’s BurgersQueen ShebaJamba JuiceWalgreensJoe Marty’s

O’Neil ParkFarmers’ Market

16th & Broadway Dev

Onyx Apartments16th & Broadway Dev

1901 Broadway

POPULAR RESTAURANTS NEAR THE MILL AT BROADWAY (NOT ALL ARE MENTIONED HERE):

58 Degrees & Holding Co.Ace of SpadesAioli Bodega EspanolaAmaro Italian Bistro & BarAndy Nguyen’sAzul MexicanBar WestBike DogBombay Bar & GrillBottle & BarlowBroderick MidtownBuckhorn GrillBurger PatchBurgers and BrewCafe BernardoCantina AlleyCentro Cocina MexicanaChada Thai CuisineCornerstoneCrepevilleDad’s Sandwiches

Der BiergartenDim Sum HouseElixir Bar & GrillElla DiningErnesto’s MexicanFederalist Public HouseFieldwork Brewing Co.FishFace Poke BarFox & Goose Public HouseFrank FatsGinger Elizabeth ChocolatesGrangeHighwaterHook & LadderIdentity CoffeeIron Horse TavernJack’s Urban EatsJamie’s Bar & GrillJin Jin NoodleKarma BrewKru Japanese

Kupros Craft HouseKyoto Sushi BarLa GarnachaLe CroissantLowbrauLuccaLuna’s Cafe & Juice BarMake FishMango’s/BurgertownMas Taco BarMassulo PizzaMasullo PizzaMathmandu KitchenMikuni SushiMiso JapaneseMulvaney’s B&LN Street CafeNekterNishiki SushiOld Soul CoffeePachamama Coffee Coop

Paesano’sParagary’sPizzeria UrbanoPortofino’sPress BistroPushkin’s BakeryQ Street Bar & GrillQueen ShebaR15Red RabbitRick’s Dessert DinerRiverside ClubhouseRoxie Deli and BarbecueSaddle RockSakamotoSelland’sShady LadyShoki Ramen HouseSlice of BroadwaySouthSun & Soil Juice

Tank House BBQTaste of ThaiTemple CoffeeThai BasilThai CanteenThe Bread StoreThe Coconut on TThe Golden BearThe Mill Coffee HouseThe PorchThe PressThe RindThe WaterboyTres HermanasUncle Vito’s PizzaVic’s Ice CreamWaffle Square Country KitchenWillie’s BurgersX O LoungeZelda’s PizzaZocalo

Sutter’s Fort

Winn Park

Truitt Bark ParkFremont Park

Golden 1 Center

Located on the Broadway Corridor - Sacramento’s up-and-coming submarket. Residents of the Penthomes at The Mill will enjoy being near the urban core with easy access to every corner of the city.

NEARBY AMENITIES

2 9


Southside Park

State Capitol

Roosevelt Park

The Mill at Broadway

O’Neil ParkS

5th

Broadway

10th

SACRAMENTO

Cal i fo rn ia ’s fas tes t g rowing met ropo l i tan

The word “renaissance” is often overused and

inappropriate to describe economic improvement

in the urban core of cities throughout the Unit-

ed States. However, that’s not the case for Sac-

ramento. Since the formal approval to construct

Golden 1 Center, the floodgates have figuratively

opened to the urban migration of retailers, busi-

nesses and residents. Huge chunks of the urban

core have been revamped, with more redevelop-

ment currently underway. New projects surround-

ing the property, namely the Downtown Commons

and The Railyards, are contributing to this an

215+15.3 MILLION 71,335DAYTIME EMPLOYEESANNUAL REGIONAL VISITORS BARS / RESTAURANTS

exciting time for the city. In California, nowhere

is the word “renaissance” more applicable and

demonstrable than in Downtown Sacramento, and

1920 20th Street is situated in the middle of ev-

erything.

3 1

Section Six: Sacramento

THERE’S A REASON EVERYONE IS COMING HERE.

#1 Happiest workers in midsized cities

#2 Top 10 most fun, affordable U.S. cities

#4 U.S metro clean tech index

#4 Best cities for nerds

#5 Hot startup cities

#10 Best cities for women in the workforce

#10 Best cities for coffee snobs

#10 Least Stressed-out cities

#14 America’s coolest cities

#16 Best cities for millennials

SACRAMENTO’S CITY RANKINGS

SACRAMENTO REGION ANNUAL SALARY BREAKDOWN:

Over $100,000 - 17%$75,000 - $100,000 - 11%

$60,000 - $75,000 - 10%$40,000 - $60,000 - 18%

$30,000 - $40,000 - 12%Under $30,000 - 32%

LARGEST EMPLOYMENT INDUSTRIES WITHIN 1 MILE RADIUS OF THE PROPERTY:

ANNUAL CONSUMER SPENDING WITHIN A ONE MILE RADIUS OF THE URBAN CORE:

Entertainment

Eateries/alc.

Transport

Health & ed.

Household

20 40 60 80*Numbers in millions0

*Based on data from 2019

NUMBER OF EMPLOYEESWITHIN VARYING RADIUS OF THE URBAN CORE

1 MILE 2 3

83,188

137,034

181,382

48% Public Admin. & Sales

17% Science & Tech.

4% Information

5% Healthcare & Social

7% Hospitality & Food

19% Other

SACRAMENTO OFFICE VACANCY:

2016 2017 2018 20199%

10%

11%

12%

13%

14%

WALKSCORE:

53BIKE

SCORE:

92TRANSITSCORE:

38

SACRAMENTO DATA BITESSacramento’s relative affordability versus amenities remains one of its biggest draws. Population growth is expected

to average about 1% (20,000 annually for the region) over the next five years and is expected to outpace the national

average. Household growth continues to far outpace the rate of single-family and apartment deliveries. In recent years,

Bay Area residents have flocked to Sacramento to escape exorbitant housing costs.

3 3

Section Six: Sacramento

Section Seven: The Market

3 5

Sacramento’s strong economic momentum has

continued through 2020. Apartment demand began

in 2012 driven by distress in the housing market,

forcing many former homeowners to become rent-

ers, in addition to a steady rebound in employment

beginning that same year. The metro’s vacancy re-

covery has not yet been burdened by large-scale

supply additions, which has allowed vacancies to

remain near historical lows. Greater net in-migra-

tion, particularly from the Bay Area, and solid de-

mographics have helped boost demand. Covid-19

has accelerated this migration with urban Sacra-

mento living being one of their top choices/

Improving economic conditions have support-

ed steady demand. Construction, Education and

Health services led the way in job growth year-

to-date and this trend is expected to continue in

Sacramento’s urban core with Kaiser expected to

THE MARKETDEM A ND

occupy their new 200,000 sf location at 6th and J

Street as well as their new medical campus spread

out over 17 acres in the Railyards over the next

decade. Above-average employment growth is also

expected to continue in the leisure and hospitality

sector, thanks in large part to the new retail and

hotels opening in relation to the Golden 1 Center

development.

A few developers have focused on market rate urban

core properties such as 19J, a 160 unit development

in Midtown, Ice House, a 146-unit development, (oc-

cupancy October, 2017), Q19 (44 units occupancy

Q2/2018), the 700 Block of K Street (136 units on K

Street occupancy Q2/2018), Eviva (118-unit modu-

lar development) and the 800 Block of K Street (170

units scheduled for Q3/2019). This does not even

come close to supplying the apparent demand for ur-

ban core apartments as most of these projects have

waiting lists at rents above pro forma (and pro forma

is over $3 per sf). As stated earlier and pointed out

in the recent study completed by Bay Area Econom-

ics, the pending demand for higher end fair market

SUP PLY

apartments is at least 2,000. Given the scarcity of

available land, the emphasis at the City level for pro-

viding “low income” housing options, the increasing

cost of permit fees and the ever-extending construc-

tion timelines for project completions, it appears the

supply of market rate housing in urban Sacramento

will be constrained for the foreseeable future.

We did what many multifamily landlords don’t have time to do: directly ask apartment tenants in the urban core what they want. The Penthomes at the Mill at Broadway has it all.

what tenants want

Section Seven: The Market

3 7

B R E N N A K E N N E A L Y

"I've got a lot to say about one thing: laundry.

Why do so few apartments have on-site laun-

dry? I have been trying to move to urban Sac

for over a year and very few decent one-bed-

rooms with on-site laundry are in my price

range. How do people deal with leaving the

house to wash their clothes? It's become a

luxury service down there.

To top it off, half of the places WITH on-site

laundry have coin-operated machines that

take like three dollars to do a load. If I do

two loads a week, that means I'm spending

an extra $300 per year on laundry. Non-

sense! I confess that my perception may be

skewed by my Cameron Park upbringing,

but still. Dang."

I like the location to either be close to my work or to close to the areas of town I like to frequent in my free time. I also really enjoy having communal / public space that I can host in without having to dirty up my own apartment. My friend lived in a really cool complex which had a rooftop deck with a barbecue and couches. I like the idea of having that option!M O R G A N C O N L E Y

O O H ,S H EM A D

"I know this sounds a little

high-maintenance, but I vastly

prefer brand new modern apart-

ments and condos to older ones.

I like stuff that's clean and works

well. Also, I like high ceilings or

else I feel cramped."

G A R R E T T H A N K S

It's gotta be nice

Communal hangout space

16 Powerhouse - Photo by Nicholas Wray

Dataphilia:WHAT MATTERS MOST IN A RENTAL?

For your consumption, we gave our local friends 10 points to distribute amongst qualities they value most in a rental and averaged them! n=16

5

4

3

2

1

ON-SITE LAUNDRY

NEWFINISHES

PETFRIENDLY

WALKABLE LOCATION

PARKING

Living room at Q19

Common Room at Warehouse Artist Lofts

"I moved to Midtown because I love being in the

middle of everything! I like the energy and activ-

ity, of all the people walking around and going

out at night. Since I go out pretty often, I don't

mind the music and revelry. I’m so happy that

I found an apartment that was centrally located

and close to public transit!"

"I love how cool Midtown is as much as the next

guy, but living outside of Midtown fits my lifestyle

better with less noise and action. I love getting a

great night of sleep and catching a run at Sut-

ter's Landing before the sun comes up, so the

quiet outskirt neighborhoods are my preference."

In the actionvs.

On the outskirts

C A S S I E M A N C I N I

P H I L I P P E T E R S O N

"Four years ago, I sold my car and moved to the Grid. I needed to live in a highly walkable part of town. I remember studying the area on Google Maps, noting the distance of prospective apartments to the locations of grocery stores, restaurants, exciting bars, parks, river entrances, and my office. Living in the Grid without a car is so normal to me now, everything I could ever need or want is within walking distance."

Easy to live car-free S C O T T P O L A S K E

"I really try to limit my driving, so having walkable access to

coffee shops, restaurants, and my work was important to me.

As someone that's an avid cooker, I also consider the usability

of the kitchen - I NEED a gas range and big kitchen to cook, so

that's one of my priorities." K Y R A K L O P P

3 9

Section Eight: Economics

The Property is being marketed on offer-by-offer basis based on a conservative pro forma net operating income of $403,132.22 inclusive of a 5% of gross revenue concession allowance and a 3% vacancy reserve. Seller reserves the right to accept an offer at any time.

ECONOMICS

PRO FORMA 10-YEAR CASH FLOWTHE MILL AT BROADWAY PENTHOMES

Revenue Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Notes

Gross Scheduled Residential Rental Income/Unit/Month

UNIT # SIZE PER SF

Unit 107A 1,110 $2.50 $2,775.00 $2,844.38 $2,915.48 $2,988.37 $3,063.08 $3,139.66 $3,218.15 $3,298.60 $3,381.07 $3,465.59 2.5% annual rent growth

Unit 107B 1,156 $2.50 $2,890.00 $2,962.25 $3,036.31 $3,112.21 $3,190.02 $3,269.77 $3,351.51 $3,435.30 $3,521.18 $3,609.21 2.5% annual rent growth

Unit 107C 1,110 $2.50 $2,775.00 $2,844.38 $2,915.48 $2,988.37 $3,063.08 $3,139.66 $3,218.15 $3,298.60 $3,381.07 $3,465.59 2.5% annual rent growth

Unit 107D 1,156 $2.50 $2,890.00 $2,962.25 $3,036.31 $3,112.21 $3,190.02 $3,269.77 $3,351.51 $3,435.30 $3,521.18 $3,609.21 2.5% annual rent growth

Unit 107E 1,445 $2.35 $3,395.75 $3,480.64 $3,567.66 $3,656.85 $3,748.27 $3,841.98 $3,938.03 $4,036.48 $4,137.39 $4,240.83 2.5% annual rent growth

Unit 107F 1,503 $2.35 $3,532.05 $3,620.35 $3,710.86 $3,803.63 $3,898.72 $3,996.19 $4,096.10 $4,198.50 $4,303.46 $4,411.05 2.5% annual rent growth







Gross Scheduled Monthly Residential Rental Income $36,515.60 $37,428.49 $38,364.20 $39,323.31 $40,306.39 $41,314.05 $42,346.90 $43,405.57 $44,490.71 $45,602.98

Gross Schedled Annual Residential Rental Income $438,187.20 $449,141.88 $460,370.43 $471,879.69 $483,676.68 $495,768.60 $508,162.81 $520,866.88 $533,888.55 $547,235.77

Concessions $21,909.36 $22,457.09 $23,018.52 $23,593.98 $24,183.83 $24,788.43 $25,408.14 $26,043.34 $26,694.43 $27,361.79 5% of gross

Vacancy $13,145.62 $13,474.26 $13,811.11 $14,156.39 $14,510.30 $14,873.06 $15,244.88 $15,626.01 $16,016.66 $16,417.07 3% of gross

Total Rental and Parking Income $403,132.22 $413,210.53 $423,540.79 $434,129.31 $444,982.55 $456,107.11 $467,509.79 $479,197.53 $491,177.47 $503,456.91

Expenses Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Notes

Property Management $16,125.29 $16,528.42 $16,941.63 $17,365.17 $17,799.30 $18,244.28 $18,700.39 $19,167.90 $19,647.10 $20,138.28 4% of total revenue

HOA Dues $60,127.20 $61,630.38 $63,171.14 $64,750.42 $66,369.18 $68,028.41 $69,729.12 $71,472.35 $73,259.15 $75,090.63 $400/unit/month with 2.5% annual increases

Utilities $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

Property Taxes (1.15% @ $4.5m) $51,750.00 $52,785.00 $53,840.70 $54,917.51 $56,015.86 $57,136.18 $58,278.91 $59,444.48 $60,633.37 $61,846.04 2% annual increase

Special Assessments $4,000.00 $4,080.00 $4,161.60 $4,244.83 $4,329.73 $4,416.32 $4,504.65 $4,594.74 $4,686.64 $4,780.37 2% annual increase

Insurance $4,031.32 $4,111.95 $4,194.19 $4,278.07 $4,363.63 $4,450.91 $4,539.92 $4,630.72 $4,723.34 $4,817.80 1% of total revenue

Operating and Maintenance (unit) $4,031.32 $4,111.95 $4,194.19 $4,278.07 $4,363.63 $4,450.91 $4,539.92 $4,630.72 $4,723.34 $4,817.80 1% of total revenue

Operating and Maintenance (exterior) $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

Total Expenses $140,065.13 $143,247.70 $146,503.45 $149,834.08 $153,241.34 $156,727.01 $160,292.91 $163,940.92 $167,672.94 $171,490.93

Net Operating Income $263,067.09 $269,962.83 $277,037.35 $284,295.23 $291,741.21 $299,380.10 $307,216.88 $315,256.61 $323,504.53 $331,965.98

Value at 5.78% Capitalization Rate $4,550,000.00 Year 1 sale price

Value at 4.75% Capitalization Rate $5,683,428.02 $5,832,365.19 $5,985,162.81 $6,141,920.14 $6,302,738.97 $6,467,723.69 $6,636,981.35 $6,810,621.74 $6,988,757.46 Resale price for future buyer




UNIT # SIZE PER SF
















Vacancy $13,145.62 $13,474.26 $13,811.11 $14,156.39 $14,510.30 $14,873.06 $15,244.88 $15,626.01 $16,016.66 $16,417.07 3% of gross





Utilities $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00






Total Expenses $140,065.13 $143,247.70 $146,503.45 $149,834.08 $153,241.34 $156,727.01 $160,292.91 $163,940.92 $167,672.94 $171,490.93




4 1




UNIT # SIZE PER SF
















Vacancy $13,145.62 $13,474.26 $13,811.11 $14,156.39 $14,510.30 $14,873.06 $15,244.88 $15,626.01 $16,016.66 $16,417.07 3% of gross





Utilities $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00






Total Expenses $140,065.13 $143,247.70 $146,503.45 $149,834.08 $153,241.34 $156,727.01 $160,292.91 $163,940.92 $167,672.94 $171,490.93







UNIT # SIZE PER SF
















Vacancy $13,145.62 $13,474.26 $13,811.11 $14,156.39 $14,510.30 $14,873.06 $15,244.88 $15,626.01 $16,016.66 $16,417.07 3% of gross





Utilities $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00






Total Expenses $140,065.13 $143,247.70 $146,503.45 $149,834.08 $153,241.34 $156,727.01 $160,292.91 $163,940.92 $167,672.94 $171,490.93





THE MILL AT BROADWAY PENTHOMES

Project Name Address Year Built Total Units Unit Br Unit Bth Unit Size in

SF Asking Rent

Gross Asking

Rent/SF Occupancy Appliances Range Flooring Countertops Ceilings Washer/Dryer Closets Patios16 Powerhouse 1606 P Street 2015 50 2 2 1100 3,675$ 3.34$ 100% Bosch Stainless Steel Electric Wood Cesar Stone 10-18ft Bosch HE Walk In Yes

2 2 1053 3,055$ 2.90$ 100% Bosch Stainless Steel Electric Wood Cesar Stone 10-18ft Bosch HE Walk In Yes1801 L Street 1123 18th Street 2006 170 2 2 1021 2,710$ 2.65$ 93% GE Stainless Steel Electric Vinyl Formica 9ft GE Walk In Yes

2 2 1063 2,920$ 2.75$ 93% GE Stainless Steel Electric Vinyl Formica 9ft GE Walk In Yes2 2 1054 2,840$ 2.69$ 93% GE Stainless Steel Electric Vinyl Formica 9ft GE Walk In Yes2 2 1025 2,815$ 2.75$ 93% GE Stainless Steel Electric Vinyl Formica 9ft GE Walk In Yes2 2 1062 2,900$ 2.73$ 93% GE Stainless Steel Electric Vinyl Formica 9ft GE Walk In Yes2 2 1071 2,920$ 2.73$ 93% GE Stainless Steel Electric Vinyl Formica 9ft GE Walk In Yes2 2 1084 2,945$ 2.72$ 93% GE Stainless Steel Electric Vinyl Formica 9ft GE Walk In Yes2 2 1074 3,045$ 2.84$ 93% GE Stainless Steel Electric Vinyl Formica 9ft GE Walk In Yes2 2 1037 2,940$ 2.84$ 93% GE Stainless Steel Electric Vinyl Formica 9ft GE Walk In Yes2 2 1150 3,500$ 3.04$ 93% GE Stainless Steel Electric Vinyl Formica 9ft GE Walk In Yes2 2 1111 3,073$ 2.77$ 93% GE Stainless Steel Electric Vinyl Formica 9ft GE Walk In Yes

Fremont Mews 1400 P Street 2005 119 2 2 1303 2,700$ 2.07$ 100% Whirlpool SS Electric Carpet Formica 9ft Whirlpool No Yes2 2 1008 2,280$ 2.26$ 100% Whirlpool SS Electric Carpet Formica 9ft Whirlpool No Yes2 2 1019 2,600$ 2.55$ 100% Whirlpool SS Electric Carpet Formica 9ft Whirlpool No Yes2 2 1008 2,660$ 2.64$ 100% Whirlpool SS Electric Carpet Formica 9ft Whirlpool No Yes

Legado De Ravel 1520 16th Street 2014 84 2 2 1080 2,530$ 2.34$ 98% Whirlpool SS Electric Carpet Formica 9ft GE No Yes2 2 972 2,505$ 2.58$ 98% Whirlpool SS Electric Wood Granite 10ft GE No Yes

Eviva 1531 N Street 2016 118 2 2 1007 2,800$ 2.78$ 93% Whirlpool SS Electric Wood Granite 10ft Whirlpool No No2 2 1212 3,150$ 2.60$ 100% Whirlpool SS Electric Vinyl Quartz 9ft Whirlpool No No

Ice House 1710 R Street 2017 148 2 2 864 2,500$ 2.89$ 95% Whirlpool SS Electric Vinyl Quartz 9ft Whirlpool Yes No2 1 864 2,500$ 2.89$ 95% Whirlpool SS Electric Vinyl Quartz 9ft Whirlpool Yes No

J Street Lofts 800 J Street 2006 225 2 2 1100 2,726$ 2.48$ 93% GE Stainless Steel Electric Wood Granite 12-14ft GE Yes No2 2 943 2,919$ 3.10$ 93% GE Stainless Steel Electric Wood Granite 12-14ft GE Yes No2 2 1362 -$ 100% 9-10ft Electric Wood Granite 12-14ft GE Yes No

1430 Q 1430 Q Street 2020 75 2 2 1165 3,500$ 3.00$ 100% 9-10ft Gas Wood Quartz Slab Waterfall Counter Tops 9-10ft Whirlpool SS Yes Yes2 2.5 1280 3,900$ 3.05$ 100% GE Stainless Steel Gas Wood Quartz Slab Waterfall Counter Tops 9-10ft Whirlpool SS Yes Yes2 2 1330 4,100$ 3.08$ 100% GE Stainless Steel Gas Wood Quartz Slab Waterfall Counter Tops 9-10ft Whirlpool SS Yes Yes2 2.5 1675 5,250$ 3.13$ 100% GE Stainless Steel Gas Wood Quartz Slab Waterfall Counter Tops 9-10ft Whirlpool SS Yes Yes

Q19 1907 Q Street 2018 68 2 2 1146 2,835$ 2.47$ 93% GE Stainless Steel Electric Vinyl Quartz 10-11ft GE Diamond Grey Yes Yes2 2 969 2,833$ 2.92$ 93% GE Stainless Steel Electric Vinyl Quartz 10-11ft GE Diamond Grey Yes Yes2 2 1076 2,843$ 2.64$ 93% GE Stainless Steel Electric Vinyl Quartz 10-11ft GE Diamond Grey Yes Yes

The Press 1714 21st Street 2020 277 2 2 850 3,100$ 3.65$ 100% Whirlpool SS Electric Wood Granite 9-10ft Whirlpool SS Yes Yes2 2 905 3,355$ 3.71$ 100% Whirlpool SS Electric Wood Granite 9-10ft Whirlpool SS Yes Yes

Eviva 1531 N St 2016 118 2 2 1146 2,800$ 2.44$ 100% Whirlpool SS Electric Vinyl Quartz 9ft Whirlpool No No2 2 969 2,833$ 2.92$ 100% Whirlpool SS Electric Vinyl Quartz 9ft Whirlpool No No2 2 1076 2,843$ 2.64$ 100% Whirlpool SS Electric Vinyl Quartz 9ft Whirlpool No No

Penthouses at Capitol Park 1127 15th Street 2007 19 2 2 1114 2,900$ 2.60$ 100% GE Stainless Steel Electric Wood Quartz 9-10ft GE Walk In Yes2813 Q Street Winn Park Lofts 2019 9 2 2 1043 2,430$ 2.33$ 100% GE Stainless Steel Vinyl Quartz 9ft Samsung Yes Yes1818 X St Onyx Midtown 2020 41 2 2 1060 2,487$ 2.35$ 100% GE Stainless Steel Vinyl Quartz 9ft Samsung Yes Yes945 48th St Angelino 2019 20 2 2 1009 2,922$ 2.90$ 100% Whirlpool Gas Vinyl Quartz 9ft Whirlpool Yes Yes

2 2.5 984 2,955$ 3.00$ 100% Whirlpool Gas Vinyl Quartz 9ft Whirlpool Yes Yes

RENT COMPARABLES - 2 BEDROOMTHE MILL AT BROADWAY PENTHOMES

Project Name Address Year Built Total Units Unit Br Unit Bth Unit Size in

SF Asking Rent

Gross Asking

Rent/SF Occupancy Appliances Range Flooring Countertops Ceilings Washer/Dryer Closets Patios16 Powerhouse 1606 P Street 2015 50 2 2 1100 3,675$ 3.34$ 100% Bosch Stainless Steel Electric Wood Cesar Stone 10-18ft Bosch HE Walk In Yes

2 2 1053 3,055$ 2.90$ 100% Bosch Stainless Steel Electric Wood Cesar Stone 10-18ft Bosch HE Walk In Yes1801 L Street 1123 18th Street 2006 170 2 2 1021 2,710$ 2.65$ 93% GE Stainless Steel Electric Vinyl Formica 9ft GE Walk In Yes

2 2 1063 2,920$ 2.75$ 93% GE Stainless Steel Electric Vinyl Formica 9ft GE Walk In Yes2 2 1054 2,840$ 2.69$ 93% GE Stainless Steel Electric Vinyl Formica 9ft GE Walk In Yes2 2 1025 2,815$ 2.75$ 93% GE Stainless Steel Electric Vinyl Formica 9ft GE Walk In Yes2 2 1062 2,900$ 2.73$ 93% GE Stainless Steel Electric Vinyl Formica 9ft GE Walk In Yes2 2 1071 2,920$ 2.73$ 93% GE Stainless Steel Electric Vinyl Formica 9ft GE Walk In Yes2 2 1084 2,945$ 2.72$ 93% GE Stainless Steel Electric Vinyl Formica 9ft GE Walk In Yes2 2 1074 3,045$ 2.84$ 93% GE Stainless Steel Electric Vinyl Formica 9ft GE Walk In Yes2 2 1037 2,940$ 2.84$ 93% GE Stainless Steel Electric Vinyl Formica 9ft GE Walk In Yes2 2 1150 3,500$ 3.04$ 93% GE Stainless Steel Electric Vinyl Formica 9ft GE Walk In Yes2 2 1111 3,073$ 2.77$ 93% GE Stainless Steel Electric Vinyl Formica 9ft GE Walk In Yes

Fremont Mews 1400 P Street 2005 119 2 2 1303 2,700$ 2.07$ 100% Whirlpool SS Electric Carpet Formica 9ft Whirlpool No Yes2 2 1008 2,280$ 2.26$ 100% Whirlpool SS Electric Carpet Formica 9ft Whirlpool No Yes2 2 1019 2,600$ 2.55$ 100% Whirlpool SS Electric Carpet Formica 9ft Whirlpool No Yes2 2 1008 2,660$ 2.64$ 100% Whirlpool SS Electric Carpet Formica 9ft Whirlpool No Yes

Legado De Ravel 1520 16th Street 2014 84 2 2 1080 2,530$ 2.34$ 98% Whirlpool SS Electric Carpet Formica 9ft GE No Yes2 2 972 2,505$ 2.58$ 98% Whirlpool SS Electric Wood Granite 10ft GE No Yes

Eviva 1531 N Street 2016 118 2 2 1007 2,800$ 2.78$ 93% Whirlpool SS Electric Wood Granite 10ft Whirlpool No No2 2 1212 3,150$ 2.60$ 100% Whirlpool SS Electric Vinyl Quartz 9ft Whirlpool No No

Ice House 1710 R Street 2017 148 2 2 864 2,500$ 2.89$ 95% Whirlpool SS Electric Vinyl Quartz 9ft Whirlpool Yes No2 1 864 2,500$ 2.89$ 95% Whirlpool SS Electric Vinyl Quartz 9ft Whirlpool Yes No

J Street Lofts 800 J Street 2006 225 2 2 1100 2,726$ 2.48$ 93% GE Stainless Steel Electric Wood Granite 12-14ft GE Yes No2 2 943 2,919$ 3.10$ 93% GE Stainless Steel Electric Wood Granite 12-14ft GE Yes No2 2 1362 -$ 100% 9-10ft Electric Wood Granite 12-14ft GE Yes No

1430 Q 1430 Q Street 2020 75 2 2 1165 3,500$ 3.00$ 100% 9-10ft Gas Wood Quartz Slab Waterfall Counter Tops 9-10ft Whirlpool SS Yes Yes2 2.5 1280 3,900$ 3.05$ 100% GE Stainless Steel Gas Wood Quartz Slab Waterfall Counter Tops 9-10ft Whirlpool SS Yes Yes2 2 1330 4,100$ 3.08$ 100% GE Stainless Steel Gas Wood Quartz Slab Waterfall Counter Tops 9-10ft Whirlpool SS Yes Yes2 2.5 1675 5,250$ 3.13$ 100% GE Stainless Steel Gas Wood Quartz Slab Waterfall Counter Tops 9-10ft Whirlpool SS Yes Yes

Q19 1907 Q Street 2018 68 2 2 1146 2,835$ 2.47$ 93% GE Stainless Steel Electric Vinyl Quartz 10-11ft GE Diamond Grey Yes Yes2 2 969 2,833$ 2.92$ 93% GE Stainless Steel Electric Vinyl Quartz 10-11ft GE Diamond Grey Yes Yes2 2 1076 2,843$ 2.64$ 93% GE Stainless Steel Electric Vinyl Quartz 10-11ft GE Diamond Grey Yes Yes

The Press 1714 21st Street 2020 277 2 2 850 3,100$ 3.65$ 100% Whirlpool SS Electric Wood Granite 9-10ft Whirlpool SS Yes Yes2 2 905 3,355$ 3.71$ 100% Whirlpool SS Electric Wood Granite 9-10ft Whirlpool SS Yes Yes

Eviva 1531 N St 2016 118 2 2 1146 2,800$ 2.44$ 100% Whirlpool SS Electric Vinyl Quartz 9ft Whirlpool No No2 2 969 2,833$ 2.92$ 100% Whirlpool SS Electric Vinyl Quartz 9ft Whirlpool No No2 2 1076 2,843$ 2.64$ 100% Whirlpool SS Electric Vinyl Quartz 9ft Whirlpool No No

Penthouses at Capitol Park 1127 15th Street 2007 19 2 2 1114 2,900$ 2.60$ 100% GE Stainless Steel Electric Wood Quartz 9-10ft GE Walk In Yes2813 Q Street Winn Park Lofts 2019 9 2 2 1043 2,430$ 2.33$ 100% GE Stainless Steel Vinyl Quartz 9ft Samsung Yes Yes1818 X St Onyx Midtown 2020 41 2 2 1060 2,487$ 2.35$ 100% GE Stainless Steel Vinyl Quartz 9ft Samsung Yes Yes945 48th St Angelino 2019 20 2 2 1009 2,922$ 2.90$ 100% Whirlpool Gas Vinyl Quartz 9ft Whirlpool Yes Yes

2 2.5 984 2,955$ 3.00$ 100% Whirlpool Gas Vinyl Quartz 9ft Whirlpool Yes Yes

RENT COMPARABLES - 2 BEDROOM

4 3


2131 CAPITOL, STE 100 SACRAMENTO, CA 95816

916.573.3300 TURTONCOM.COM

© 2020 The information contained in the Offering memorandum is confidential and is not to be used for any other purpose or made available to other persons without the express written consent of Turton Commercial Real Estate (“TCRE”), Ken Turton or the owner. The material contained herein is based upon information supplied by owner in coordination with information provided by TCRE from sources it deems reasonably reliable. Summaries of documents are not intended to be comprehensive or all-inclusive but rather a general outline of the provisions contained herein and subject to more diligent investigation on the part of the prospective purchaser. No warranty, expressed or implied, is made by owner, TCRE or any other respec-tive affiliates, as to the accuracy or completeness of the information contained herein or any other written or aral communication provided to a prospective purchaser in the course of its evaluation of the Property. No legal liability is assumed or to be applied in connection with the information or such other communication. Without limiting the general nature of the foregoing, the information shall not be deemed a representation of the state of affairs of the Property or constitute an indication that there has been no change in the business affairs, specific finances or specific condition of the Property since the date of preparation of the information. Prospective purchaser shall make their own projections and conclusions without reliance upon the materials contained herein and conduct their own independent due diligence, inspection and review of the Property, including but not limited to engineering and environmental inspec-tions, to determine the condition of the Property and the existence of any potential hazardous material located at the site.

SCOTT KINGSTONVICE PRESIDENT - LIC. 01485640916.573.3309SCOT [email protected]

KEN TURTONPRESIDENT - LIC. [email protected]

ZACHARY HOOKERDIRECTOR - LIC. [email protected]

4 6

Documents

12 LUXURY MULTIFAMILY...for fully stabilized new construction apartments, the prudent investor can potentially resell the fully leased project for approximately $5,850,000. Assuming