1. 7319 N JOHN AVENUE & 8401 N IVANHOE STREET
OFFERING MEMORANDUM
LINDSEY LOFTS
7319 N JOHN AVENUE & 8401 N IVANHOE STREET
PORTLAND, OREGON
APARTMENTS

2. ACTIVITY ID: ZAA

3. MICHAEL KAPNICK GEORGIE CHRISTENSEN NATHAN DRAKE PRESENTED BY
Direct: (503) // Fax: (503)
License: OR , WA: 6176
GEORGIE CHRISTENSEN
Direct: (503) // Fax: (503)
License: OR
NATHAN DRAKE
Direct: (503) // Fax: (503)
License: OR
PRESENTED BY

4. 0 4 01 02 03 0 5 0 7 0 6 TABLE OF CONTENTS THE OPPORTUNITY
MARKET OVERVIEW
EXECUTIVE
SUMMARY 01
TABLE OF CONTENTS 02 03
PROPERTY
OVERVIEW
FINANCIAL ANALYSIS
0 5
0 7
0 6
SALES
COMPARABLES
RENT
COMPARABLES

7. in v e s t me n t h i g h li g h t s
Executive Summary
section 1
o f f e r in g s um ma r y
s u mm ar y o f t e r m s
i n ves t m e n t o ve r v ie w
in v e s t me n t h i g h li g h t s

9. O FFERIN G S U MMAR Y LINDSEY LOFTS $4,200,000 6 UNITS 5 SUITES 6,120
Net Rentable Square Feet
6,120
7,575
13,737
Number of Buildings 1
Number of Stories
Three Above Ground, Plus Basement
Year Built
1924, Renovated 2006
Lot Size
0.11 Acres
E X E C U T I V E S U M M A R Y

10. S U MMAR Y O F TERMS INTERES T O FFERED TERMS O F SALE
100 percent fee-simple interest in the Lindsey Lofts, a mixed-use property featuring six loft style apartments and five retail suites located at 7319 N John Avenue and 8401 N. Ivanhoe Street, Portland, Oregon 97203
TERMS O F SALE
The property is being offered on seller-carry financing. Seller is offering the following loan terms: Loan Amount: $3,175,000; Down payment: $1,050,000; Int Rate: years one and two to be 4.5% interest only payments; years three, four and five to be 5.5% interest only payments. Maturity date of five years from loan origination date. Loan shall not be pre-pre- payable in years one and two. Step-down prepayment penalty shall be assessed in years three, four and five. Loan is assumable at discretion of Lienholder (Seller).
P R O P ER T Y T OURS
Prospective purchasers are encouraged to visit the subject property prior to submitting offers. However, all property tours must be arranged with the Marcus & Millichap listing agents. At no time shall the tenants, management or staff be contacted without prior approval.
E X E C U T I V E S U M M A R Y

12. LINDSEY LOFTS
7319 N John Ave and 8401 N Ivanhoe St, Portland, Oregon 97203
Originally built in 1920 and fully renovated in 2006, the Lindsey Lofts Building is mixed-use property located in the St. Johns neighborhood of Portland – just around the corner from the iconic St. Johns Bridge. The three-story building is located on the corner of N. John Avenue and N. Ivanhoe Street and is directly across from Safeway. The property offers a mix of six (6) loft-style apartment units and five (5) retail suites. The property is fully occupied with all tenants on annual leases. This handsome building features modern industrial styling which perfectly complements the location. Notably, the renovation included a full-seismic retrofit. The Lindsey Lofts is being offered for sale on Seller-Carry terms. Please see the listing agent for more information.
INVESTMENT HIGHLIGHTS
Favorable Seller-Carry Financing Available
Full Seismic Retrofit Completed
Existing Rents Below Market
Six Oversized Loft Style Floorplans – Open Concepts, Modern Industrial Styling
Five Fully-Occupied Retail Suites
Corner Lot – High Visibility, Eleven Miles to Downtown Portland
EXECUTIVE SUMMARY

13. Market Overview
section 2

14. MARKET OVERVIEW

15. OREGON
ST JOHNS

16. EMPLOYMENT
Lindsey Lofts is less than ten minutes from both the Adidas and Daimler Trucks North American Headquarters as well as the University of Portland campus. Adidas is currently expanding it’s footprint and Daimler just negotiated a robust incentives package to remain in Portland. A new distribution center for Amazon adds to the submarket’s large industrial footprint.
STRONG GROWTH FUNDAMENALS Numerous industrial parks blanket North Portland, with the newest being a distribution center for Amazon. Other sizable logistics giants include Columbia Sportswear, Georgia Pacific Corporation, Subaru and Nordstrom. A stones throw from the Property, The University of Portland has approximately 4,400 students enrolled with 44% of undergraduates living off-campus. This offers an inelastic source of demand for area multifamily investors.
St Johns is transitioning to one of the most desirable submarkets in Portland. The area’s proximity to major employment centers combined with its hip dining scene, recreational and cultural amenities and popular family activity spots and relative affordability has put
St Johns atop residents most sought after places to live.
CULTURAL
RoseQuater
Future Home to Portland Baseball (MLB)
Portland Expo Center
Numerous Libraries
Disjecta
Mississippi Studios
RECREATION
Forest Park
Cathedral City Park
Pier Park
Columbia River Trailhead
Willamette River Trailhead
Smith and Bybee Wetlands Natural Area
Kelly Point Park
DINING & NIGHTLIFE
McMenamins St. Johns Theater & Pub
Twilight Room
Fishwife Seafood Resturant
St Johns Beer Porch
Ex Novo Brewing Co.
Victor 23 Brewing
Occidental Brewing Company
Paddy’s
ACCESSIBILITY
Adjacent to Many of Portland’s Most Vibrant Neighborhoods
MAX Lightrail Connects North Portland to Portland International Airport and Downtown and Surrounding Suburbs
Major Employers, Short Commute to Downtown Portland
Convenient Access to HWY 30, I-5 Freeway
MARKET OVERVIEW

17. LINDSEY LOFTS
6 Apartments
&
5 Retail Suites

18. MARKET OVERVIEW

19. 648,121 $66,187 $427,500 1.22% 267,700 PORTLAND DEMOGRAPHICS //
LINDSEY LOFTS
648,121
50%
GENDER
2017 Portland To t a l Po p u l a t io n
50%
$66,187
$427,500
Median Household Income
Median Home Value
1.22%
267,700
From 2016
To t a l H o u s e h o ld s
DEMOGRAPHICS

20. [ Portland-Vancouver]
METRO HIGHLIGHTS
HIGH POPULATION GROWTH
The Portland-Vancouver metro has recorded more than 20 years of positive net migration thanks to expanding industries.
Overview
[ Portland-Vancouver]
ALTERNATIVE-ENERGY INDUSTRY
Alternative-energy companies are attracted to the local educated workforce and research institutions and are moving to the region.
The Portland-Vancouver metro is located near the confluence of the Columbia and Willamette rivers and stretches across the Oregon border into Washington State. The region is composed of Multnomah, Clackamas, Columbia, Washington and Yamhill counties in Oregon, and Clark and Skamania counties in Washington. Mount Hood and the Cascade Range stand to the east, and the Oregon Coast Mountain Range lies to the west. The metro contains approximately 2.4 million residents, with more than 640,000 people residing in Portland, the area’s most populous city.
LOW BUSINESS COSTS
The cost of doing business is among the lowest on the West Coast, supported by no state income tax in Washington and no sales tax in Oregon.
ECONOMY
Lower land costs than other West Coast metros, a skilled labor pool and affordable, abundant power attract companies to the region. The favorable tax structure, with no state income taxes in Washington and no sales tax in Oregon, also lures businesses.
The metro’s economy has shifted from timber to industries that include athletic and outdoor activities, clean tech, advanced manufacturing and software.
A diverse group of companies based in the metro include Nike, Daimler, Oregon Iron Works, Intel and IBM.
MARKET O V E R V I E W

21. 2017 MEDIAN HOUSEHOLD INCOME:
DEMOGRAPHICS
MARKET OVERVIEW
The metro is expected to add nearly 120,000 people over the next five years, resulting in the formation of nearly 64,000 households.
A median home price well above the U.S. level means 60 percent of households can afford to own their home, which is below the national rate of 64 percent.
Of residents age 25 and older, 35 percent hold bachelor’s degrees, and 13 percent have also obtained a graduate or professional degree.
SPORTS
2017 Population by Age
0-4 YEARS 6%
5-19 YEARS
19%
20-24 YEARS
25-44 YEARS
30%
45-64 YEARS
26%
65+ YEARS
14%
EDUCATION
37.9
2017 MEDIAN AGE:
U.S. Median:
37.8
$63,000
2017 MEDIAN HOUSEHOLD INCOME:
$56,300
2.4M
2017 POPULATION:
Growth *:
4.9%
948K
2017 HOUSEHOLDS:
6.7%
QUALITY OF LIFE
The metro contains more than 37,000 acres of parks and provides numerous outdoor opportunities, including activities at Mount Hood and on the Hood River. The metro lies 60 miles east of the Pacific Ocean, with 330 miles of beaches along the Oregon coast. Professional sports teams represent basketball, soccer and hockey. Cultural activities can be found at various local venues, including the Portland Art Museum, World Forestry Center Discovery Museum and the Portland Children’s Museum, and plays are staged at the Portland Center for the Performing Arts. Major colleges and universities including Lewis and Clark, Pacific University, the University of Portland and Portland State University. The University of Oregon and Oregon State University are nearby.
ARTS & ENTERTAINMENT
* Forecast
Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s Analytics; U.S. Census Bureau
MARKET O V E R V I E W

22. local and regional maps
Property Overview
section 4
the property
local and regional maps
site plan
amenities

24. PROPERTY OVERVIEW // LINDSEY LOFTS
Property Type
Mixed-Use
Apartment Units 6
Retail Suites 5
Total SF
16,350
Occupancy
100%
Year Built
1920
Year Renovated
2006
Buildings 1
Acreage
0.11
Stories
3+ Basement
Exterior
Concrete
Roof Type
Flat
APARTMENTS
Unit Type
SQFT
# of Units
Current Rent
Loft - Flat
2,179 2
$1,484
Loft - Two Story
4,818 4
$1,596
RETAIL
Tenant
Location
Morph, Inc.
1,950
Ground Level
$3,077
Inspire Wellness
2,147
$3,317
Soma Speak Easy
635
Basement
$1,411
Old Willamette
1,850
$2,061
Livingsworth LLC
773
$1,199

25. LINDSEY LOFTS APARTMENT OVERVIEW Washers/Dryers In Units
Full Seismic Upgrade
Elevator Service
Air Conditioning
Private Balconies
92 “WalkScore” – Walker’s Paradise
Near Public Transportation, Major Employers

26. PROPERTY OVERVIEW

27. MODERN INDUSTRIAL DESIGN - PERFECTED
The apartment spaces at the Lindsey Lofts define Modern Industrial Design. The large open floorplans offer a mixture of concrete and sheet metal walls. Black steel posts stand out in contrast and frame oversized windows which pour daylight throughout the unit. Large skylights further increase natural light. Massive Douglas Fir beams add dramatic flare to the exposed wood ceilings. The exposed structural elements are intelligently balanced with fine touches seen in the modern light fixtures, dark wood cabinets and modern appliances.
All units feature the following finishes;
FLOORING
APPLIANCES
LIGHTS
Skylights
CABINETS
POCEILN TILE FLOORING IN KITCHENS, BATHROOMS
STAINLESS STEEL APPLIANCES
MODERN LIGHT FIXTURES
OVERSIZED SKYLIGHTS THROUGHOUT
CUSTOM CABINETS AND HARDWARE
PROPERTY OVERVIEW

29. PROPERTY OVERVIEW

30. Floor Plans CLICK HERE FOR VIRTUAL WALK THROUGH
APARTMENTS AT LINDSEY LOFTS
Floor Plans
CLICK HERE FOR VIRTUAL WALK THROUGH
SECOND FLOOR
Units
PROPERTY OVERVIEW

31. APARTMENTS AT LINDSEY LOFTS
Unit #
Floorplan
SQFT
Current
Rent
201
Flat
835
$1,265
202
Loft
1044
$1,825
203
943
$1,296
204
908
$1,646
205
1088
$1,948
301
1344
$1,654
THIRD FLOOR
UNIT 301, Loft Area

32. PROPERTY OVERVIEW

33. PROPERTY OVERVIEW

34. PROPERTY OVERVIEW

35. PROPERTY OVERVIEW

36. PROPERTY OVERVIEW

37. LINDSEY LOFTS RETAIL OVERVIEW Modern Creative Finishes
Full Seismic Upgrade
Urban-Infill Location
Corner Lot
Near Public Transportation, Major Employers

38. PROPERTY OVERVIEW

40. PROPERTY OVERVIEW

41. PROPERTY OVERVIEW

42. Financial Analysis section 6 p r o pe r t y d e t a il s
p r ici n g de t a i l s
re n t ro l l su m m a r y
op e r a t i n g sta te m e n t

43. CURRENT RENT INCOME ANNUAL PSF
P R O P ER T Y
D E TAILS
// LINDSEY LOFTS
VITAL DATA
JULY
PRO FORMA
Price
$4,200,000
CAP Rate
4.79%
6.19%
Down Payment
(25%) $1,050,000
NOI
$201,139
$259,914
Loan Amount
$3,150,000
Net Cash Flow After Debt Service
5.66% / $59,389
8.25% / $86,664
Loan Type
Proposed New (Seller)
Total Return
Interest Rate
Int Only % Years % Years 3-5
Total Rentable SF
13,557
Price/SF
$309.80
Year Built / Renovated
1926 / 2006
MAJOR EMPLOYERS
EMPLOYER
# OF EMPLOYEES
Daimler Trucks North Amer LLC
3,324
Coho Distributing LLC
2,600
Xpo Enterprise Services Inc
1,600
Esco
1,500
UPS
1,284
Pacific Bells LLC
1,098
Vigor Fab LLC
1,000
Montgomery Park
916
Con-Way Enterprise Services
900
Detroit Diesel
896
Columbia Distributing
721
St Johns Corporation
715
UNIT MIX
APARTMENTS
UNIT COUNT
UNIT TYPE
AVG. SF
CURRENT AVG. RENTS
AVG. RENTS/SF
MONTHLY INCOME
POTENTIAL RENTS
AVG. RENTS/SF 6
1x1
1,027
$1,703
$1.66
$10,216
$2,133
$2.08
$12,800
RETAIL
SUITE COUNT
TYPE
TOTAL GLA
CURRENT RENT RANGE PSF
CURRENT RENT INCOME ANNUAL PSF
PRO FORMA
RENT INCOME ANNUAL PSF
Retail
7,395
$ $27.14
$19.13
$23.45
F I N A N C I A L A N A L Y S I S

44. P RI CIN G D E TAILS // LINDSEY LOFTS Operating Data Income
Income
July
Pro Forma
Multifamily
Gross Scheduled Rent
$122,592
$153,600
Retail Suites
$136,780
$164,292
Expense Reimbursements
$21,062
Vacancy 0% $0 5%
($16,948)
Combined Effective Gross Income
$259,372
$322,007
Less: Expenses
($58,233)
($62,092)
Net Operating Income
$201,139
$259,915
Cash Flow
Debt Service
($141,750)
($173,250)
Net Cash Flow After Debt Service
5.66%
$59,389
8.25%
$86,664
Principal Reduction
Total Return
Expenses
Property Tax
$19,814
$20,408
Insurance
$2,007
$2,067
Janitorial
$2,576
$2,653
Repairs & Maintenance
$4,650
$4,790
Phone/ Fire Alarm Monitoring
$2,107
$2,170
Water/Sewer/Garbage
$4,975
$5,124
Electric
$5,788
$5,962
HVAC Maintenance
$2,340
$2,410
Elevator Maintenance
$890
$917
Management Fee (4%)
$10,375
$12,880
Reserves ($0.20 psf)
$2,711
Total Expenses
$58,233
$62,093
Expenses/SF
$4.30
$4.58
Summary
Price
$4,200,000
Down Payment
$1,050,000
25%
# of Apartment Units 6
# of Commercial Suites
Price Per SqFt
$309.80
Lot Size (Acres)
0.11
Rentable SqFt
13,557
Approx. Year Built
1926 / 2006
July
Pro Forma
CAP Rate
4.79%
6.19%
Cash-on-Cash
5.66%
8.25%
Financing
Seller Financing
Loan Amount
$3,150,000
Loan Type
Interest Only
Interest Rate Years 1-2
4.50%
Interest Rate Years 3-5
5.50%
Year Due
2024
# Of Suites
Type
GLA
Current Rent
Pro Forma Rent
Retail
7,395
$11,398
$13,691
# Of Units
Unit Type
SqFt/Unit
Current Rents
Market Rents
One Bed/One Bath
1027
$1,703
$2,133
F I N A N C I A L A N A L Y S I S

45. O P ER ATIN G S TATEMENT // LINDSEY LOFTS Multifamily Commercial
Scheduled
Potential
# of
Avg Sq
Rental
Average
Monthly
Unit Type
Units
Feet
Range
Rent
Rent / SF
Income
Loft 4
996
$1,646 - $1,948
$1,812
$1.82
$7,247
$2,100
$2.11
$8,400
Flat 2
1,090
$1,265 - $1,704
$1,485
$1.36
$2,969
$2,200
$2.02
$4,400
Totals/Weighted Averages 6
1,027
$1,703
$1.66
$10,216
$2,133
$2.08
$12,800
Gross Annualized Rents
$122,592
$153,600
Commercial %
Description of
Square
Bldg
Rent per
Total Rent
Changes
Proforma
Operating Expense
Tenant Name
Suite
Feet
Share
Lease Term
Sq. Ft.
Per Month on to
Rent Per Month
Reimbursements
Morph Inc.
8401
1,950
14.38%
2/1/19 to 1/31/22
$19.12
$3,077
Feb
$3,169
$3,900
Included in Rent
Inspire Wellness*
101/102
2,147
15.84%
1/1/19 to 7/31/20
$18.22
$3,317
$4,294
Old Willamette Ice Creamery
B20 PLUS D/E/F/G
1,850
13.65%
4/1/19 to 3/31/21
$15.38
$2,354
April
$2,424
$2,775
Soma Speak Easy
A/B/C
635
4.68%
3/1/19 to 1/31/21
$27.14
$1,410
February
$1,473
Livingsworth LLC
B30
773
5.70%
4/1/18 to 3/31/21
$18.21
$1,164
$1,199
EC Private Storage H 40
0.30%
N/A
$15.00
$50
MTM
Total 6
7,395
$11,372
 $11,632
$13,691
Retail Occupancy:
100.00%
Total Annualized Rent
$136,464
* Inspire Wellness has been a tenant since 2012 and more recently has been renewing their lease in one year increments.
F I N A N C I A L A N A L Y S I S

46. RENT R O LL S U MMARY // LINDSEY LOFTS $19,814 Property Tax 7.64%
Income
July
Per SF
Pro Forma
Gross Rental Income
$259,372
$19.13
$317,892
$23.45
Expense Reimbursement
$21,062
$1.55
Vacancy
0.0%
($16,948)
5.0%
Effective Gross Income
$322,007
$23.75
Expenses
% of CEGI
Property Tax
$19,814
7.64%
$1.46
$20,408
6.34%
$1.51
Insurance
$2,007
0.77%
$0.15
$2,067
0.64%
Janitorial
$2,576
0.99%
$0.19
$2,653
0.82%
$0.20
Repairs & Maintenance
$4,650
1.79%
$0.34
$4,790
1.49%
$0.35
Phone/ Fire Alarm Monitoring
$2,107
0.81%
$0.16
$2,170
0.67%
Water/Sewer/Garbage
$4,975
1.92%
$0.37
$5,124
1.59%
$0.38
Electric
$5,788
2.23%
$0.43
$5,962
1.85%
$0.44
HVAC Maintenance
$2,340
0.90%
$0.17
$2,410
0.75%
$0.18
Security $0
0.00%
$0.00
Elevator Maintenance
$890
0.34%
$0.07
$917
0.28%
Management Fee (4%)
$10,375
4.00%
$0.77
$12,880
$0.95
Reserves ($0.20 psf)
$2,711
1.05%
0.84%
Total Expenses
$58,233
$4.30
$62,092
$4.58
Expenses as % of Combined EGI
22.5%
19.3%
Net Operating Income
$201,139
$259,914
$19.17
F I N A N C I A L A N A L Y S I S

47. Sales Comparables
section 7
location map
comparables

48. SALES COMPARABLES // LINDSEY LOFTS PROPERTY NAME SALES COMPARABLES
(SUBJECT)
Goodwill / Umpqua Bank Building
Ezra Building
SE Hawthorne Blvd
Zoom+ Care Building
Cleaners Drapery Service
Slogan Apartments
The Hub PDX Apartments
Mississippi Ave Lofts
The Broadway
Wildwood Apartments
SALES COMPARABLES 1 2 3 4 5 6 7 8 9 10
SALES COMPARABLES

49. SALES COMPARABLES // LINDSEY LOFTS Average Cap Rate 5.01%
PROPERTY NAME
SALES COMPARABLES
// LINDSEY LOFTS
Average Cap Rate 5.01%
SALES COMPARABLES
SALES COMPS AVG
SALES COMPARABLES

50. SALES COMPARABLES // LINDSEY LOFTS Average Price Per Square Foot
PROPERTY NAME
SALES COMPARABLES
SALES COMPARABLES
// LINDSEY LOFTS
Average Price Per Square Foot
SALES COMPARABLES
SALES COMPS AVG
SALES COMPARABLES

51. 8401 N Ivanhoe St, Portland, OR, 97203
PROPERTY NAME
MARKETING TEAM
SALES COMPARABLES
// LINDSEY LOFTS
Tenants
Type
Offering Price
$4,200,000 6
One Bed One Bath
Price/SF
$309.80
Retail
CAP Rate
4.78%
Year Built
1926
Total Apartment Units
Total Commercial Suites
LINDSEY LOFTS
8401 N Ivanhoe St, Portland, OR, 97203
rentpropertyaddress1 1
Close Of Escrow:
10/25/2018
Sales Price:
$4,800,000
Price/SF:
$670.58
CAP Rate:
5.22%
Year Built:
1911
Close
100%
GOODWILL / UMPQUA BANK BUILDING
3557 SE Hawthorne Blvd, Portland, OR, 97214
rentpropertyname1
rentpropertyaddress1 2
Close Of Escrow:
3/16/2018
Sales Price:
$3,000,000
Price/SF:
$423.67
CAP Rate:
5.02%
Year Built:
1923
Close
100%
EZRA BUILDING
3508 SE Hawthorne Blvd, Portland, OR, 97214
rentpropertyname1
rentpropertyaddress1
SALES COMPARABLES

52. SALES COMPARABLES // LINDSEY LOFTS 1844-1864 SE HAWTHORNE BLVD3
Close Of Escrow:
12/9/2017
Sales Price:
$2,430,000
Price/SF:
$463.03
CAP Rate: 5%
Year Built:
1927
Close
100%
SE HAWTHORNE BLVD
1844 SE Hawthorne Blvd, Portland, OR, 97214 4
Close Of Escrow:
8/24/2016
Sales Price:
$1,670,000
Price/SF:
$417.50
CAP Rate:
4.5%
Year Built:
1946
Close
100%
ZOOM+ CARE BUILDING
3321 SE Hawthorne Blvd, Portland, OR, 97214 5
Close Of Escrow:
8/31/2018
Sales Price:
$2,150,000
Price/SF:
$620.49
CAP Rate:
4.98%
Year Built:
1923
Close
100%
CLEANERS DRAPERY SERVICE
3342 SE Belmont St, Portland, OR, 97214
SALES COMPARABLES

53. SALES COMPARABLES // LINDSEY LOFTS PROPERTY NAME SALES COMPARABLES
MARKETING TEAM
SALES COMPARABLES
// LINDSEY LOFTS
Tenants
Type
Close Of Escrow
4/14/1919 3
0 Bdr 0 Bath
Sales Price
$6,275,000 19
1 Bdr 0 Bath
Price/SF
$339.19
2 Bdr 0 Bath
CAP Rate
5.14%
Year Built
2017
Total Apartment Units 25
Key Tenants
Sacred Moon, LLC 6
SLOGAN APARTMENTS
1510 N Sumner St, Portland, OR, 97217
Tenants
Type
Close Of Escrow
11/2/2018 24
0 Bdr 0 Bath
Sales Price
$6,047,000 4
1 Bdr 0 Bath
Price/SF
$304.27
CAP Rate
4.87%
Year Built
2018
Total Apartment Units 28
Key Tenants
The HUB 7
THE HUB PDX APARTMENTS
3423 SE Hawthorne Blvd, Portland, OR, 97214
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
Tenants
Type
Close Of Escrow
12/04/2017 2
0 Bdr 0 Bath
Sales Price
$14,500,000 17
1 Bdr 0 Bath
Price/SF
$395.88 13
2 Bdr 0 Bath
CAP Rate
4.4%
Year Built
2010
Total Apartment Units 32
Key Tenants
Emerald Petals
Paxton Gate
Pastaworks 8
MISSISSIPPI AVE LOFTS
4216 N Mississippi Ave, Portland, OR, 97217
SALES COMPARABLES

54. SALES COMPARABLES // LINDSEY LOFTS PROPERTY NAME SALES COMPARABLES
MARKETING TEAM
SALES COMPARABLES
// LINDSEY LOFTS
Tenants
Type
Close Of Escrow
10/1/2018 6
0 Bdr 0 Bath
Sales Price
$2,350,000
1 Bdr 0 Bath
Price/SF
$422.66 2
2 Bdr 0 Bath
CAP Rate
5.3%
Year Built
2013
Total Apartment Units 14
Key Tenants
St Simon Coffee Co 9
THE BROADWAY
NE Broadway St, Portland, OR, 97232
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
Tenants
Type
Close Of Escrow
9/10/2018 5
1 Bdr 0 Bath
Sales Price
$5,515,000 14
2 Bdr 0 Bath
Price/SF
$487.41
CAP Rate
5.2%
Year Built
2016
Total Apartment Units 19
Key Tenants
Rainier Pacific 10
WILDWOOD APARTMENTS
2240 NW Pettygrove St, Portland, OR, 97210
SALES COMPARABLES

55. RENT COMPARABLES // LINDSEY LOFTS PROPERTY NAME SALES COMPARABLES
(SUBJECT)
5262 N Lombard
Jower's Building
The Union at St. Johns
Cathedral Park
St. J's
St. Johns Flats
The Louis York
Marvel 29
SALES COMPARABLES
MARKETING TEAM 1 2
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1 3 4 4 5 6 7 7 8 8 8 9 9 10
RENT COMPARABLES

56. AVERAGE RENT – MULTIFAMILY = $2.19 Per Square Foot
PROPERTY NAME
AVERAGE RENT – MULTIFAMILY = $2.19 Per Square Foot
RENT COMPARABLES

57. AVERAGE RENT – Commercial = $25 Per Square Foot
PROPERTY NAME
AVERAGE RENT – Commercial = $25 Per Square Foot
RENT COMPARABLES

58. 8401 N Ivanhoe St, Portland, OR, 97203
RENT COMPARABLES
// LINDSEY LOFTS
Type
Tenant
Avg. SF
Avg. Monthly Rent
Rent/SF
One Bed One Bath 6
1,027
$1,703
$1.66
Total/Avg.
Retail
1,232
$1,895
$18.45
LINDSEY LOFTS
8401 N Ivanhoe St, Portland, OR, 97203
YEAR BUILT: 1908 1
NOTES
New Facade will include new storefront glass. Outdoor patio seating option. Neighborhood demographics are trending younger and more family oriented
5262 N LOMBARD
5262 N Lombard St, Portland, OR, 97203
Type
Tenant
Avg. SF
Rent/SF
Retail 2
1,620
$24.00 NNN
JOWER'S BUILDING
8803 N Lombard St, Portland, OR, 97203
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
Type
Tenant
Avg. SF
Rent/SF
Retail 1
4,996 SF
$24.00 NNN
YEAR BUILT: 1906
NOTES
One unit was created for a retail store and the second was made for a restaurant.
RENT COMPARABLES

59. RENT COMPARABLES // LINDSEY LOFTS PROPERTY NAME MARKETING TEAM
YEAR BUILT: 2018 3
Unit Type
Units SF
Rent
Rent/SF
Studio 1 Bath Flat 32
478
$1,301
$2.72
1 Bdr 1 Bath Flat 44
666
$1,673
$2.51
2 Bdr 1 Bath Flat 27
924
$2,047
$2.22
Total/Avg.
103
675
$1,655
$2.45
NOTES
Units offer stainless steel appliances, washer/dryer. Property features clubhouse, pet car and storage.
THE UNION AT ST. JOHNS
7428 N Charleston Ave, Portland, OR, 97203
Type
Tenant
Avg. SF
Avg. Monthly Rent
Rent/SF
0 Bdr 1 Bath 8
486
$1,137
$2.34
1 Bdr 1 Bath 55
550
$1,248
$2.27
2 Bdr 1 Bath 9
844
$1,725
$2.04
NOTES
Units offer air conditioning, granite countertops, vinyl flooring, washer/dryer in unit. 4
CATHEDRAL PARK
6855 N Burlington Ave, Portland, OR, 97203
Type
Tenant
Avg. SF
Avg. Monthly Rent
Rent/SF
0 Bdr 1 Bath 24
352
$1,115
$3.17
1 Bdr 1 Bath 3
686
$1,371
$2.00
2 Bdr 1 Bath 4
787
$1,637
$2.08
NOTES
Units offer stainless steel appliances and washer/dryer in units. 5
ST. J'S
7228 N Burlington Ave, Portland, OR, 97203
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
Type
Tenant
Avg. SF
Rent/SF
Retail 1
2355 SF
$27.00 NNN
RENT COMPARABLES

60. RENT COMPARABLES // LINDSEY LOFTS PROPERTY NAME MARKETING TEAM
YEAR BUILT: 2011 6
Unit Type
Units SF
Rent
Rent/SF
1 Bdr 1 Bath Flat 10
860
$1,447
$1.68
Total/Avg.
ST. JOHNS FLATS
8117 N Edison St, Portland, OR, 97203
YEAR BUILT: 2010 7
Unit Type
Units SF
Rent
Rent/SF
1 Bdr 1 Bath Flat 15
475
$1,053
$2.22
Total/Avg.
THE LOUIS YORK
9000 N Ivanhoe St, Portland, OR, 97203
Type
Tenant
Avg. SF
Avg. Monthly Rent
Rent/SF
1 Bdr 1 Bath 6
600
$1,462
$2.44 8
MARVEL 29
7227 N Philadelphia Ave, Portland, OR, 97203
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
RENT COMPARABLES

61. RENT COMPARABLES // LINDSEY LOFTS PROPERTY NAME MARKETING TEAM
YEAR BUILT: 2018 9
Unit Type
Units SF
Rent
Rent/SF
Studio 1 Bath Flat 32
478
$1,301
$2.72
1 Bdr 1 Bath Flat 44
666
$1,673
$2.51
2 Bdr 1 Bath Flat 27
924
$2,047
$2.22
Total/Avg.
103
675
$1,655
$2.45
NOTES
Units offer stainless steel appliances, washer/dryer. Property features clubhouse, pet car and storage.
THE UNION AT ST. JOHNS
7428 N Charleston Ave, Portland, OR, 97203
YEAR BUILT: 2011 10
Unit Type
Units SF
Rent
Rent/SF
1 Bdr 1 Bath Flat
860
$1,447
$1.68
Total/Avg.
ST. JOHNS FLATS
8117 N Edison St, Portland, OR, 97203 11
YEAR BUILT: 2010
Unit Type
Units SF
Rent
Rent/SF
1 Bdr 1 Bath Flat 15
475
$1,053
$2.22
Total/Avg.
THE LOUIS YORK
9000 N Ivanhoe St, Portland, OR, 97203
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
RENT COMPARABLES

62. RENT COMPARABLES // LINDSEY LOFTS PROPERTY NAME MARKETING TEAM
Type
Tenant
Avg. SF
Avg. Monthly Rent
Rent/SF
1 Bdr 1 Bath 6
600
$1,462
$2.44 12
MARVEL 29
7227 N Philadelphia Ave, Portland, OR, 97203
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
RENT COMPARABLES

63. APARTMENTS

64. MICHAEL KAPNICK GEORGIE CHRISTENSEN NATHAN DRAKE PRESENTED BY
Direct: (503) // Fax: (503)
License: OR , WA: 6176
GEORGIE CHRISTENSEN
Direct: (503) // Fax: (503)
License: OR
NATHAN DRAKE
Direct: (503) // Fax: (503)
License: OR
PRESENTED BY