Fishers View Residential Rental Portfolio New Construction Attached Homes 24 Attached Single Family Units Including 7 Duplexes, Two 3-Plexes, and One 4-Plex Currently Under Construction John Blom Broker Sales Manager Ginn Realty Group 360-977-8329 john@ginnrealtygroup.com
Table of Contents I. Project Summary & Bulk Listing Details II. III. IV. Map & Location Schools & Community Rental Management V. Financial Information VI. Site Plans VII. Included Floor Plans VIII. Included Features & Finishes Ginn Realty Group Fishers View Portfolio 2
I. Project Summary & Portfolio Summary The Fishers View Portfolio consists of 24 Residential Units currently under construction in East Vancouver, Washington. The Fisher s Landing area of Vancouver features top schools and great access to amenities and transportation. Vancouver, Washington features one of the fastest appreciating rental markets in the entire nation. https://www.apartmentlist.com/rentonomics/july-2015-national-rental-price-monitor/ http://www.oregonlive.com/front-porch/index.ssf/2015/09/vancouver_had_nations_fastest-.html http://www.columbian.com/news/2016/jun/30/newcomers-flock-to-clark-county/ This turn-key, new construction project is a perfect opportunity for investors. Extra thought and planning was put into the design and construction knowing they would be long-term rentals requiring durable and long-lasting features. General Property Information Address: Location: Ownership: Management Company: Project Status: 16503 SE 40 th Circle Vancouver, WA 98683 Conveniently located just North SR-14 and East of I-205 in Vancouver, Washington. Fishers View Subdivision, LLC Ginn Property Management, LLC, which is affiliated with the Seller/Builder. Under Construction Portfolio Summary (see page 9 for details on individual floorplans) Units Offered for Sale: 24 units Date built: 2018 Sales Price: $7,718,509.09 Projected Annual Net Operating Income: $424,530.00 Projected Capitalization Rate (2018): 5.50% (Based on projected rents & expenses in surrounding areas) Lease type: To be 12 months or longer leases at market rate No rent controls. Ginn Realty Group Fishers View Portfolio 3
II. Map & Location Fishers View is located in East Vancouver, WA in the desirable Fisher s Landing area just across the Columbia River from Portland, OR. This ideal location benefits from its close proximity to both the Portland International Airport (9.5 miles away) and downtown Portland (16.6 miles away) as well as being just blocks away from transportation, shopping and schools. Tenants of Fishers View can enjoy the absence of both a state income tax in Washington and a sales tax in Oregon. The Greater Portland/Vancouver metropolitan area is growing as new residents are attracted to a robust local economy and the lifestyle that the Pacific Northwest has to offer. Ginn Realty Group Fishers View Portfolio 4
II. Schools & Community Community Information Neighborhood: Shopping: Parks & Recreation: Fisher s Landing Whole Foods Market New Seasons Market Fred Meyer Target World Market Kohl s QFC Starbucks Heritage Park Fairway Village Golf & Country Club Homestead Park School Information School District: High School: Middle School: Elementary School: Secondary Education: Evergreen School District Mt. View High School 1500 SE Blairmount Drive Vancouver, WA 98683 Shahala Middle School 601 SE 192 nd Avenue Vancouver, WA 98683 Fishers Landing Elementary School 3800 SE Hiddenbrook Drive Vancouver, WA 98683 Charter College 17200 SE Mill Plain Blvd Vancouver, WA 98683 Clark College at Columbia Tech Center 18700 SE Mill Plain Blvd Vancouver, WA 98683 Ginn Realty Group Fishers View Portfolio 5
IV. Rental Management Typical Fees in Clark County for this type of project Monthly Management Fee: 5% of the payable monthly gross receipts from the premises, payable the following month for the duration of the agreement. Set-up Fee per Unit: $50 Lease renewal fee: $100 Maintenance Billed at: Property Inspection Survey prior to Lease renewal (optional): Security Deposits (To be transferred to new owner) $45.00/hour $75.00/survey Approx. 1 month rent or more based on tenant profile. (Credit, rental history, pets, etc) Note: Seller/Builder manages its properties internally through a related entity Ginn Property Management, LLC. Utility Information Tenant is Responsible for All Utilities Ginn Realty Group Fishers View Portfolio 6
V. Financial Projected Cap Rate is Approximately 5.50% See attached spreadsheet Cap rate is projected to be 5.50% Ginn Realty Group Fishers View Portfolio 7
Fishers View -24 Attached Units Lot BD/BA Sq. Ft. Rent MGMT (5%) Taxes Insurance Vacancy Factor (2%) Turnover cost/ Reserves (3%) Monthly NOI Annual NOI 1 3/2.5 1595 $ 1,935.00 $ 96.75 $ 266.67 $ 40.00 $ 38.70 $ 58.05 $ 1,434.83 $ 17,218 2 4/3 1649 $ 2,135.00 $ 106.75 $ 266.67 $ 40.00 $ 42.70 $ 64.05 $ 1,614.83 $ 19,378 2 3/2.5 1595 $ 1,935.00 $ 96.75 $ 266.67 $ 40.00 $ 38.70 $ 58.05 $ 1,434.83 $ 17,218 4 3/2.5 1595 $ 1,960.00 $ 98.00 $ 266.67 $ 40.00 $ 39.20 $ 58.80 $ 1,457.33 $ 17,488 5 3/2.5 1595 $ 1,960.00 $ 98.00 $ 266.67 $ 40.00 $ 39.20 $ 58.80 $ 1,457.33 $ 17,488 6 3/2.5 1595 $ 1,960.00 $ 98.00 $ 266.67 $ 40.00 $ 39.20 $ 58.80 $ 1,457.33 $ 17,488 7 3/2.5 1595 $ 1,985.00 $ 99.25 $ 266.67 $ 40.00 $ 39.70 $ 59.55 $ 1,479.83 $ 17,758 8 3/2.5 1486 $ 1,850.00 $ 92.50 $ 266.67 $ 40.00 $ 37.00 $ 55.50 $ 1,358.33 $ 16,300 9 4/3 1649 $ 2,185.00 $ 109.25 $ 266.67 $ 40.00 $ 43.70 $ 65.55 $ 1,659.83 $ 19,918 10 4/3 1649 $ 2,185.00 $ 109.25 $ 266.67 $ 40.00 $ 43.70 $ 65.55 $ 1,659.83 $ 19,918 11 3/2.5 1486 $ 1,850.00 $ 92.50 $ 266.67 $ 40.00 $ 37.00 $ 55.50 $ 1,358.33 $ 16,300 12 3/2.5 1675 $ 2,110.00 $ 105.50 $ 266.67 $ 40.00 $ 42.20 $ 63.30 $ 1,592.33 $ 19,108 13 3/2.5 1675 $ 2,110.00 $ 105.50 $ 266.67 $ 40.00 $ 42.20 $ 63.30 $ 1,592.33 $ 19,108 14 3/2.5 1675 $ 2,075.00 $ 103.75 $ 266.67 $ 40.00 $ 41.50 $ 62.25 $ 1,560.83 $ 18,730 15 3/2.5 1675 $ 2,085.00 $ 104.25 $ 266.67 $ 40.00 $ 41.70 $ 62.55 $ 1,569.83 $ 18,838 16 3/2.5 1486 $ 1,850.00 $ 92.50 $ 266.67 $ 40.00 $ 37.00 $ 55.50 $ 1,358.33 $ 16,300 17 3/2.5 1486 $ 1,860.00 $ 93.00 $ 266.67 $ 40.00 $ 37.20 $ 55.80 $ 1,367.33 $ 16,408 18 3/2.5 1486 $ 1,820.00 $ 91.00 $ 266.67 $ 40.00 $ 36.40 $ 54.60 $ 1,331.33 $ 15,976 19 3/2.5 1486 $ 1,810.00 $ 90.50 $ 266.67 $ 40.00 $ 36.20 $ 54.30 $ 1,322.33 $ 15,868 20 3/2.5 1486 $ 1,810.00 $ 90.50 $ 266.67 $ 40.00 $ 36.20 $ 54.30 $ 1,322.33 $ 15,868 21 3/2.5 1486 $ 1,810.00 $ 90.50 $ 266.67 $ 40.00 $ 36.20 $ 54.30 $ 1,322.33 $ 15,868 22 3/2.5 1675 $ 2,050.00 $ 102.50 $ 266.67 $ 40.00 $ 41.00 $ 61.50 $ 1,538.33 $ 18,460 23 4/3 1649 $ 2,100.00 $ 105.00 $ 266.67 $ 40.00 $ 42.00 $ 63.00 $ 1,583.33 $ 19,000 24 3/2.5 1675 $ 2,055.00 $ 102.75 $ 266.67 $ 40.00 $ 41.10 $ 61.65 $ 1,542.83 $ 18,514 38104 $ 47,485.00 $ 2,374.25 $ 6,400.08 $ 960.00 $ 949.70 $ 1,424.55 $ 35,376.42 $ 424,517 Annually $ 569,820.00 $ 28,491.00 $ 76,800.96 $ 11,520.00 $ 11,396.40 $ 17,094.60 $ 424,517.04 List price 24 Units $7,718,509 NOI $ 424,517 Cap Rate 5.50% Tenant pays all utilities
VI. Overall Site Plan The Fishers View Plat consists of 24 lots. This sale package consists of 24 lots/units including Seven Duplexes, Two 3-plexes, and One 4-Plex, each featuring two story and three story units. Lots included in this bulk package: (7) Duplex: Lots 4-5, 6-7, 12-13, 14-15, 16-17, 18-19, and 20-21 (2) 3-Plex: Lots 1-3 and 22-24 (1) 4-Plex: Lots 8-11 Fishers View Plat/Site Plan: Ginn Realty Group Fishers View Portfolio 8
VII. Included Floorplans 1486 Plan Lots 8, 11, 17, 18, 19, 20 and 21 Bedrooms: 3 Bathrooms: 2 Full 1 Half Est. Square Feet 1,486 Garage: 2 Car *Actual photos (interior/exterior) of similar homes built are available for each plan by request via Dropbox. Ginn Realty Group Fishers View Portfolio 9
1595 Plan Lots 1, 3, 4, 5, 6, and 7 Bedrooms: 3 Bathrooms: 2 Full, 1 Half Est. Square Feet: 1,595 Garage: 2 Car *Actual photos (interior/exterior) of similar homes built are available for each plan by request via Dropbox. Ginn Realty Group Fishers View Portfolio 10
1649 Plan Lots 2, 9, 10 and 23 (interior 3 level units) Bedrooms: 4 Bathrooms: 3 Full Est. Square Feet 1,649 Garage: 4 Car Tandem *Actual photos (interior/exterior) of similar homes built are available for each plan by request via Dropbox. Ginn Realty Group Fishers View Portfolio 11
1675 Plan Lots 12, 13, 14, 15, 22 and 24 Bedrooms: 3 Bathrooms: 2 Full 1 Half Est. Square Feet 1,486 Garage: 2 Car *Actual photos (interior/exterior) of similar homes built are available for each plan by request via Dropbox. Ginn Realty Group Fishers View Portfolio 12
VIII. Included Features Unit Features & Finishes Design Criteria Great Room Concept Floor Plans with Natural Light Walk-In Closet in the Master Bedroom Fully Wrapped Windows with Enamel Trim Quality Exterior Features Craftsman Front Elevation 7-8 Overhead Garage Steel Door w/garage door Opener 10 Year Warranty Upgraded Du Pont Tyvek Wrap (Brochure Available Upon Request) 30 Year Warranty James Hardi Plank Siding & Trim Boards (Brochure Available Upon Request) 30 Year Warranty IKO Asphalt Shingle Roof Lifetime Warranty Cascade Windows Self Lock w/ Low-E Glass in Almond Color (Brochure Available Upon Request) Concrete Patio (size varies per plan) Galvanized Steel Gutters and Downspouts Fully Fenced Backyard Low maintenance Front Yard Landscape Plumbing Electrical Energy Efficiency 50 Gallon Hot Water Heater Ice Maker Connection in the Kitchen 1 2 Horsepower Garbage Disposal at Kitchen Sink Oil Rubbed Bronze Designer Plumbing Fixtures Central Air Conditioning Copper Electrical Wiring Wiring for TV and Cable in the Great Room and Master Designer Light Package in Oil Rubbed Bronze Abundant Recessed Can Lighting 96% Efficient Electric Furnace Located in Attic Residential Programmable Thermostat w/smart Fan Stainless Steel Frigidaire Appliances Meets All Requirements of Current Model Energy Code Detailed Interior Finishes Ultra-Durable Luxury Vinyl Tile (LVP) Flooring in Entry, Kitchen & Great Room (Brochure Available Upon Request) Vinyl Floors in Bathrooms and Utility Room Rounded Drywall Corners Craftsman Enamel Painted Trim Package Two Panel Interior Doors Color Coordinated Slab Granite Countertops in Kitchen FHA/VA Approved Carpet Designer Selected Paint Colors to Accent Finishes Sliding Glass Doors to Patio Ginn Realty Group Fishers View Portfolio 13
Unit Features & Finishes (continued) Structural Integrity Kitchen Elegance Bathroom Selections Individual Site Inspection on each Building Site Foundation Engineered to Specific Soil Conditions Slab on Grade Flatwork in the Garage Crawl Space Finished with Vents, Mechanical Vents and Vapor Barrier as Required Per Code. 36 High Alder Shaker Cabinets Concealed Cabinet Hinges Polished, Stainless Steel Double Bowl Under-mount Sink Single Handle Stainless Kitchen Faucet w/sprayer Slab Granite Countertops Full Tile Backsplash Pre-Plumbed for Ice Maker Stainless Steel Frigidaire Electric Stainless Steel Stove, or equivalent Stainless Steel Frigidaire Microwave/Hood above Stove, or equivalent Stainless Steel Frigidaire Dishwasher, or equivalent Stainless Steel Frigidaire Refrigerator, or equivalent Rubbed Oil Bronze Faucets Stand up Shower Insert with Seats Double Vanity in Master Bath Slab Granite Countertop in Master Full Width Vanity Mirrors 36 High Vanities in Master Bath Rubbed Oil Bronze Hardware Glass Shower Doors in Master Bathroom Additional Conveniences Solid Wood Closet Shelving in All Areas (No Wire shelving) Windows with Self-Lock Closing System Integrated Carbon Monoxide and Smoke Detector System Refrigerator Window Coverings 2 Faux Wood Blinds Ginn Realty Group Fishers View Portfolio 14
Request Additional Information To request additional information about this opportunity as well as other residential investment opportunities within Southwest Washington, please contact Patrick Ginn. John Blom Broker Sales Manager Ginn Realty Group 360-977-8329 john@ginnrealtygroup.com www.ginndevelopment.com Ginn Realty Group Fishers View Portfolio 15