Exclusively Offered & Co-listed By: 155 MONTE CRESTA AVE...155 Monte Cresta Ave Oakland, CA 94611 Building and Investment Summary Offering Memorandum Page 5 * All information above

155 MONTE CRESTA AVE

Oakland, CA 94611

AL STEPHENS TOM HYMAN

BROKER BROKER

cell 510.559.6953 cell 510.846.2768

[email protected] [email protected]

Lic# 00969451 Lic# 00969451

Exclusively Offered & Co-listed By:

Offering Memorandum Page 2

TABLE OF CONTENTS

I. Property and Financials

Property Description and Investment Highlights 4

Property Profile 5

Income and Expense Proforma 6

Rent Roll 7

Exterior Photos________________________________ 8

Interior Photos 9

Aerial Map 11

II. Comparables

Rent Comparable Summary and Map 12

Sales Comparable Summary and Map 14

III. Area Information

Amenities Summary and Map 17

Market Data and Demographics 19

The enclosed Marketing Brochure and Property Offering and information contained, is a

pro-forma offering and cannot be relied upon or warranted for future performance.

The information contained in this Marketing Brochure has been obtained by sources we believe

to be reliable; however, Hyland Investment Properties has not verified, and will not verify, any

of the information contained herein, nor has Hyland Investment Properties conducted any

investigation regarding these matters, and makes no warranties or representation whatsoever

regarding the accuracy or completeness of the information provided. All potential buyers must

use their own due diligence to verify all of the information set forth herein.

Seller and Broker cannot warrant the past, present, or future performance of the property, its

condition, local, or state, or violations, which may or may not be present. The property is sold in

it’s current “AS-IS” and “WHERE-IS” condition subject to Buyer’s due diligence.

Al Stephens

(510) 599-6953

[email protected]

Exclusive Agents


* All information above is accurate to the best of our knowledge. Tom Hyman and HIP cannot warrant or guarantee the accuracy of the information above. Complete

sales comparable info in 'Supported Documentation' section of presentation. Broker and Owner make no warranty or representation to the accuracy of the information

contained herein. Buyer is expected to conduct his/her own due diligence to verify this information. The Pro-Forma provided is intended for marketing purposes only

and should not be relied upon when determining profitability of future performance.

Tom Hyman

(510) 846-2768

[email protected]






Hyland Investment Properties is pleased to

extend to you an exclusive opportunity to

purchase 155 Monte Cresta Ave, a 27-unit

apartment community in Oakland, CA.

155 Monte Cresta Ave Oakland, CA 94611

Located in Oakland’s beautiful Piedmont

neighborhood, 155 Monte Cresta offers 27 spacious

apartments ((18) 2-BR-2-BA, (8) 1-BR-1BA and (1) Studio).

This includes three single-story “casitas” with private

patios at the rear and 24 apartments on four floors in the

building.

All apartments have large balconies or patios, as well as

excellent natural light and neighborhood views.

Building construction is far above apartment grade!

Superior improvements have been made throughout the

property and maintenance has been upkept meticulously.

The building is built over a poured concrete garage with 27

spaces; the building also features lightweight concrete

floors and steel balconies.

The property features mature landscaping and water

features.

155 Monte Cresta is available for the first time in 25 years;

it has been operated by a devoted and talented owner.

155 Monte Cresta Ave Oakland, CA 94611 Property Overview







Building and Investment Summary






Address 155 Monte Cresta Ave

Oakland, CA 94611

Units 27 Total

(1) STUDIO, (8) 1BD,

(18) 2BD2BA

APN 008-072-07

Approx. Square Footage 26,152

Approx. Lot Size 0.33 Acre

Year Built 1966

PGE Individually metered

Water Paid by Owner

Trash Paid by Owner

Foundation Poured concrete

perimeter foundation

Roof Composite

Parking 27 Cover Spaces

(under building)

1.0 per unit

Communal Features Well-appointed laundry

Beautifully landscaped

grounds

INVESTMENT SUMMARY

PRICE: $11,250,000.00 $11,250,000.00

CAP RATE: 4.28% 5.40%

GRM: 14.20x 11.86x

PRICE PER UNIT: $416,667 $416,667

PRICE PER

SQUARE FOOT: $500.69 $500.69


Income & Expense Pro-Forma






EST EXPENSES BREAKDOWN CURRENT PROJECTED

PROPERTY TAXES (*1.3666%) $ 153,743 $ 153,743

SPECIAL ASSESSMENTS $ 9,627 $ 9,627

INSURANCE $ 11,175 $ 11,175

GAS/ELECTRIC $ 6,950 $ 6,950

WASTE MANAGEMENT $ 14,124 $ 14,124

WATER/SEWER $ 13,815 $ 13,815

PROFESSIONAL MANAGEMENT (4% AGI) $ 31,272 $ 36,632

ONSITE MGMT ($1000/mo rent credit) $ 12,000 $ 12,000

REPAIRS & MAINTENANCE ($950/unit) $ 25,650 $ 25,650

CITY BUSINESS LICENSE $ 10,699 $ 12,373

RENT BOARD FEE $ 2,727 $ 2,727

LANDSCAPE $ 2,000 $ 2,000

LEGAL/ACCOUNTING $ 2,000 $ 2,000

RESERVES ($200/unit) $ 5,400 $ 5,400

TOTAL EXPENSES $ 301,181 $ 308,216

EXPENSES PER UNIT $ 11,155 $ 11,415

EXPENSE % GSI 38.08% 32.49%

PRO-FORMA CURRENT PROJECTED

GROSS SCHEDULED INCOME $ 792,084 $ 948,600

VACANCY (3%|5%) $ (23,763) $ (47,430)

OTHER INCOME (parking & laundry) $ 13,272 $ 13,272

(Rent Board reimbursement) $ 1,364 $ 1,364

ADJUSTED GROSS INCOME $ 782,957 $ 915,806

EXPENSES $ (301,228) $ (308,216)

NET OPERATING INCOME $ 481,730 $ 607,590


Rent Analysis






UNIT TYPE APPROX SQ FT CURRENT RENTS ACTUAL RENT PER SQ FT MARKET RENT PRO-FORMA PER SQ FT

101 S 424 $ 1,950.00 $4.60 $ 2,100.00 $4.95

102 2x2 980 $ 2,737.00 $2.79 $ 3,100.00 $3.16

103 2x2 980 $ 1,983.00 $2.02 $ 3,100.00 $3.16

104 1x1 662 $ 2,550.00 $3.85 $ 2,550.00 $3.85

105 2x2 980 $ 2,220.00 $2.27 $ 3,100.00 $3.16

106 2x2 980 $ 1,974.00 $2.01 $ 3,100.00 $3.16

107 2x2 677 $ 3,050.00 $4.51 $ 3,100.00 $4.58

108 2x2 677 $ 1,455.00 $2.15 $ 3,100.00 $4.58

109** 1x1 677 $ 2,450.00 $3.62 $ 2,450.00 $3.62

201 1x1 612 $ 1,975.00 $3.23 $ 2,500.00 $4.08

202 2x2 980 $ 2,900.00 $2.96 $ 3,150.00 $3.21

203 2x2 980 $ 2,750.00 $2.81 $ 3,150.00 $3.21

204 1x1 612 $ 2,250.00 $3.68 $ 2,500.00 $4.08

205 2x2 980 $ 3,100.00 $3.16 $ 3,150.00 $3.21

206 2x2 980 $ 2,600.00 $2.65 $ 3,150.00 $3.21

301** 1x1 612 $ 2,500.00 $3.92 $ 2,500.00 $4.08

302** 2x2 980 $ 3,200.00 $3.27 $ 3,200.00 $3.27

303 2x2 980 $ 2,900.00 $2.96 $ 3,200.00 $3.27

304 1x1 612 $ 2,450.00 $4.00 $ 2,550.00 $4.17

305 2x2 980 $ 3,100.00 $3.16 $ 3,200.00 $3.27

306 2x2 980 $ 2,800.00 $2.86 $ 3,200.00 $3.27

401* 2x2 612 $ 1,543.00 $2.52 $ 3,200.00 $5.23

402 1x1 980 $ 2,458.00 $2.51 $ 2,550.00 $2.60

403 2x2 980 $ 3,000.00 $3.06 $ 3,200.00 $3.27

404 1x1 612 $ 1,631.00 $2.67 $ 2,550.00 $4.17

405 2x2 980 $ 2,346.00 $2.39 $ 3,200.00 $3.27

406 2x2 980 $ 2,135.00 $2.18 $ 3,200.00 $3.27

27 Units 22,469 $ 66,007.00 $79,050.00


* All information above is accurate to the best of our knowledge. Tom Hyman and HIP cannot warrant or guarantee the accuracy of

the information above. Complete sales comparable info in 'Supported Documentation' section of presentation. Broker and Owner

make no warranty or representation to the accuracy of the information contained herein. Buyer is expected to conduct his/her own due diligence to verify this infor-

mation. The Pro-Forma provided is intended for marketing purposes only and should not be relied upon when determining profitability of future performance.

*On-site manager receives $1000/month rent credit

**Units are currently vacant


Exterior Photos












Interior Photos












Interior Photos












Area Map






155 Monte Cresta


Comparable Rent Summary






Address 100 Monte Cresta Avenue

Total Units 31

Unit Mix (20) 1-BD

(11) 2-BD

Year Built 1965

Rents 1-BD—721 sq ft—$3009

2-BD—928 sq ft—$3835

VUE AT PIEDMONT

Address 770 Kingston Avenue

Total Units 28

Unit Mix (17) 1-BD

(11) 2-BD

Year Built 1965


2-BD—unk sq ft—$3896

770 KINGSTON AVENUE

Address 3933 Harrison Street

Total Units 20

Unit Mix (11) 1-BD

(9) 2-BD

Year Built 1965


2-BD— 1000 sq ft— $2792

HARRISON APARTMENTS

Address 748 Oakland Avenue

Total Units 28

Unit Mix (21) 1-BD

(6) 2-BD

(1) 4-BD

Year Built 1966

Rents 1-BD— 750 sq ft— $3198

2-BD— 1000 sq ft— $4007

4-BD— 1400 sq ft— $5444

748 OAKLAND AVENUE

Address 3900 Harrison St

Total Units 29

Unit Mix (15) 1-BD

(14) 3-BD

Year Built 1968


3-BD—2050 sq ft—$4182

BAYO VISTA APARTMENTS







Comparable Rent Summary (Map)











155 Monte Cresta

Vue at Piedmont

770 Kingston Ave

Bayo Vista Apartments

748 Oakland Ave

Harrison Apartments


Comparable Sales Summary






Address 217 Santa Clara Ave

Oakland, CA 94610

Sale Price $6,500,000

Close of Escrow July 18, 2018

Units 18

Unit Mix (3) 1-BD

(14) 2-BD

(1) 3-BD

Year Built 1963

Parking 11 Covered Spaces

Cap Rate 4.68%

Price per Sq Ft $505.64

Price per Unit $361,111

217 SANTA CLARA AVE






Address 4445 Piedmont Ave

Oakland, CA 94611


Close of Escrow May 15, 2019

Units 25

Unit Mix (15) 1-BD

(10) 2-BD

Year Built 2018

Parking Unknown

Cap Rate 4.32%



THE AMADOR

Address 255 Jayne Ave

Oakland, CA 94610


Close of Escrow January , 2020

Units 12

Unit Mix (3) 1-BD

(3) 2-BD-1BA

(5) 2-BD-2BA

(1) 4BD-3BA

Year Built 1961


Cap Rate 3.70%

Price per Sq Ft $406


255 JAYNE AVE Address 601 Oakland Ave

Oakland, CA 94610

List Price $8,500,000

Status Under Contract

Units 21

Unit Mix (4) Studio

(5) 1-BD

(11) 3-BD

(1) Penthouse

Year Built 1973


Cap Rate 5.32%

Price per Sq Ft $418


601 OAKLAND AVE

UNDER CONTRACT


Comparable Sales Summary






Address 5248 Claremont Ave

Oakland, CA 94618


Close of Escrow March 19, 2019

Units 42

Unit Mix (1) Studio

(40) 1-BD

(1) 2-BD

Year Built 1959

Parking 15 Surface Spaces

Cap Rate 3.93%



CLAREMONT PARK






Address 6044-6048 Monroe Ave

Oakland, CA 94618


Close of Escrow December 10, 2019

Units 12

Unit Mix (12) 1-BD

Year Built 1927


Cap Rate 3.83%



6044-6048 MONROE AVE

Address 3921 Harrison St

Oakland, CA 94611


Close of Escrow November 13, 2018

Units 16

Unit Mix (9) 1-BD

(7) 2-BD

Year Built 1963


Cap Rate 4.20%


Price per Unit $418.750

3921 HARRISON ST


Comparable Sales Summary (Map)






155 Monte Cresta

3921 Harrison

217 Santa Clara

255 Jayne

6044 Monroe

Claremont Park

The Amador


Local Amenities







Local Amenities Map






155 Monte Cresta is located in a prime location in Oakland’s

Piedmont neighborhood. Just a short (and scenic) walk will allow

tenants to explore coffee shops, eateries, bars, shops, parks, and

community centers. Kaiser Permanente’s 349-bed hospital and

expansive medical office park is within one mile of the property.

There is easy access to BART by foot, bicycle, or car, and close

access to 580/24/980 and the SF-Oakland Bay Bridge.

155 Monte Cresta


Market Data & Analytics






The Piedmont Avenue submarket has

seen a 3.7% population growth in the

past 5 years.

Median household income in this area is

$118,000 annually, compared to $52,962

for Oakland as a whole.

There is a population of 49,465 within

one mile of 155 Monte Cresta Avenue.

17,678 housing units available within

94611 zip code, with approximately

1.9% rental vacancy rates, according

to recent census data.

Average household size of 2.1 per-

sons per residence within a 3-mile ra-

dius of 155 Monte Cresta.

MARKET RENT PER UNIT

MARKET RENT PER UNIT & RENT GROWTH








SALES VOLUME & MARKET SALE PRICE PER UNIT








VACANCY RATE BY BEDROOM

VACANCY RATE

Documents

Exclusively Offered & Co-listed By: 155 MONTE CRESTA AVE...155 Monte Cresta Ave Oakland, CA 94611 Building and Investment Summary Offering Memorandum Page 5 * All information above