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1 PRICE REDUCED FOR SALE 222 E. Carrillo Street, Suite 101, Santa Barbara, California HayesCommercial.com

2 Property overview Located at the base of the Riviera in Santa Barbara s Eastside neighborhood are these two homes on one lot. Comprised of a 1,608 SF two-story 3BD/2BA house with a two-car garage and an 848 SF single-level 2BD/1BA house, each home offers updated kitchens and bathrooms, wood and tiled floors, and their own laundry rooms. All utilities are separately metered which makes this a very easy property to own/manage. Currently grosses $5,800 per month with potential upside in rents. Great opportunity for an investor or an owner-occupant looking for a residence with income or an extended family option. Price: $1,195,000 Unit Mix: 3BD/2BA SFR 2BD/1BA SFR Size: 1,608 SF 848 SF Current : $3,600 $2,300 Est. Market : $3,750 $2,500 Parking: 2-car garage 1 space (uncovered) CAP Rate: 4.30% current and 4.59% market GRM: current and market Lot Size: 6,098 SF Laundry: Hookups in each house Zoning: R-2 APN: Utilities: Separate gas, electric, and water To Show: Subject to offer CSO: 2.5% 222 E. Carrillo Street, Suite 101, Santa Barbara, California HayesCommercial.com 2

3 222 E. Carrillo Street, Suite 101, Santa Barbara, California HayesCommercial.com 3

4 Financial analysis PROPERTY DETAILS UNIT MIX & RENT ROLL Price: $1,195,000 CURRENT RENTS (Note #2) MARKET RENTS (Note #3) # of Units: 2 Price Per Unit: $597,500 Unit Type # of Units GRM: Current s 3BD/2BA SFR + 2 Car Garage 1 1,608 $ 3,600 $ 3,600 $ 43,200 $ 3,750 $ 3,750 $ 45,000 CAP Rate: 4.30% Current s 2BD/1BA SFR $ 2,300 $ 2,300 $ 27,600 $ 2,500 $ 2,500 $ 30,000 GRM: Market s CAP Rate: 4.59% Market s Land Area (Sq. Ft.): 18,731 Price/Land Area: $64 Building Area (Sq. Ft.): 5,226 Estimated Price/Building Area: $229 Estimated FINANCING (Note #4) TOTALS 2 2,456 $ 5,900 $ 70,800 Down Payment: $418,250 Down Payment (%): 35% INCOME & EXPENSE ANALYSIS Total Loan: $776,750 CURRENT RENTS (Note #2) MARKET RENTS (Note #3) Debt Coverage Ratio: 1.14 Total Gross Potential al Income $ 5,900 $ 70,800 Amortization: 30 Years Other Income (Note #5) $ - $ - $ - $ - Term: 30 Years Total Gross Potential Income $ 5,900 $ 70,800 Rate: 4.125% (LESS) Vacancy Rate 2% $ (118) $ (1,416) $ (125) $ (1,500) Monthly Loan Payment: $3,765 Annual Loan Payment: $45,174 EFFECTIVE GROSS INCOME (EGI) $ 5,782 $ 69,384 $ 6,125 $ 73,500 Annual Interest Payment: $31,790 Notes % of EGI % of EGI Real Estate Taxes % 18.18% $ 1,051 $ 12, % $ 1,051 $ 12,616 DEPRECIATION Insurance: Est. 1.44% $ 83 $ 1, % $ 83 $ 1,000 Property Value: $1,195,000 Gas Tenants Pay 0.00% $ - $ % $ - $ - % of Improvements: 70% Estimated Electric Tenants Pay 0.00% $ - $ % $ - $ - Depreciable Basis: $836,500 Water/Sewer/Trash Tenants Pay 0.00% $ - $ % $ - $ - Depreciation Schedule: 27.5 Years Repairs & Maintenance $1000/Unit/Year 2.88% $ 167 $ 2, % $ 167 $ 2,000 Annual Depreciation: $30,418 Property Manager Self Managed 0.00% $ - $ % $ - $ - Taxes, Licenses & Prof. Fees Est. 0.26% $ 15 $ % $ 15 $ 180 NOTES Pest Control Est. 0.36% $ 21 $ % $ 21 $ 250 Note #1: Unit sizes are per appraisals Advertising N/A 0.00% $ - $ % $ - $ - Note #2: Current s are as of July 2017 Gardening (Note #4) $155/Month Act. 2.16% $ 125 $ 1, % $ 175 $ 2,100 Note #3: Market s are estimates. Miscellaneous $250/Unit Est. 0.72% $ 42 $ % $ 42 $ 500 Note #4: Buyer to verify loan terms Note #5: No Laundry income as each unit has it's own laundry room. Unit Size (Note #1) Monthly Contract Total Monthly Total Annual Monthly Contract Total Monthly Total Annual (LESS) TOTAL ANNUAL EXPENSES 26.01% $ (1,504) $ (18,046) 25.53% $ (1,554) $ (18,646) NET OPERATING INCOME (NOI) $ 4,278 $ 51,338 $ 4,571 $ 54, E. Carrillo Street, Suite 101, Santa Barbara, California HayesCommercial.com 4

5 Parcel map and photos 222 E. Carrillo Street, Suite 101, Santa Barbara, California HayesCommercial.com 5