77-83 Madison Ave. Chula Vista, CA 91910

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1 JUST LISTED FOR SALE 6 Cottages & 1 Duplex Madison Ave. Chula Vista, CA Lic. # Camino de la Reina Suite 200 South San Diego, CA 92108

2 Property Facts Property: Price: Madison Ave. Chula Vista, CA $1,100,000 $137,500 per unit $124 PSF Approximate Gross SF: 8,902 SF Year Built: 1960 Unit Mix: Stories: Type # of Units 1 BR/1 BA 2 2 BR/1 BA 6 One Two-Story Building, One Single Story Building Assessor s Parcel Number: Parcel Size: Laundry: Style: Amenities: 0.45 Acres Laundry Facilities In Some Units Mid-Rise, Garden Style On-site Parking Spaces, 8 Garages

3 Map/Aerial Bro ad y wa so Madi University A ve. n Ave.

4 Location CHULA VISTA Chula Vista (Beautiful View) is the second largest city in the San Diego metropolitan area, the seventh largest city in Southern California, the fourteenth largest city in the State of California, and the seventy seventh largest city in the U.S. Chula Vista has witnessed an explosive population growth over recent years, with a population growth rate of 28.5% from and 21.3% from With a present population of over 243,000, Chula Vista covers 50 square miles and is bordered by the Pacific Ocean on the west and mountains on the east. Located just 7 miles (11 km) from downtown San Diego and 7 miles (11 km) from the Mexican border in the South Bay region of the metropolitan area, the city is at the center of one of the richest economic and culturally diverse zones in the United States. Chula Vista is so named because of its scenic location between the San Diego Bay and coastal mountain foothills. Founded in the early 19th century, fast population growth has recently been observed in the city. As the second largest city in San Diego County, Chula Vista has quickly become a special destination for tourists. One of the nation s few yearround U.S. Olympic Training centers is located here. Visitors can shop at the region s newest lifestyle center, take in an outdoor concert at Cricket Wireless Amphitheatre, or make a splash at Knott s Soak City USA. And there s more-- top-notch golf courses, a scenic marina, the Chula Vista Nature Center, beautiful parks, and an endless variety of dining, shopping, business and leisure opportunities.excellent planning has been Chula Vista s hallmark. With its six lane boulevards, north/south toll road, and both master planned and established communities, the City continues to provide the best in living choices. From estate homes to affordable housing, Chula Vista has something for everyone. Chula Vista is integral part of San Diego s South Bay, the gateway to Baja California. This area is also home to Living Coast Discovery Center, Las Americas Premium Outlets, as well as dining, golf and a scenic harbor and waterfront park. South Bay provides easy access to Coronado and the Silver Strand State Beach, a great spot for families looking to camp, swim, surf, bike ride and fish. Also in the South Bay is Imperial Beach, host to the annual U.S. Open Sandcastle Competition, and is home to the Tijuana Estuary, the largest salt water marsh in Southern California where many endangered birds and wildlife species live. In addition South Bay has a strong military presence; its three-mile port area along the San Diego Bay is part of Naval Base San Diego, the largest U.S. Naval base on the west coast.

5 Demographics Radius 1 Mile 3 Mile 5 Mile Population 2016 Projection 23, , , Estimate 22, , , Census 22, , ,556 Growth % 3.50% 3.00% Growth % 0.30% 0.30% 2011 Population by Hispanic Origin 16,253 94, , Population By Race 22, , ,861 White 12, % 76, % 190, % Black or African American 1, % 6, % 33, % American Indian and Alaska Native % 1, % 3, % Asian 1, % 15, % 52, % Native Hawaiian and Pacific Islander % % 2, % Other Race 6, % 38, % 108, % Two or More Races 1, % 7, % 21, % Households 2016 Projection 8,504 46, , Estimate 8,314 45, , Census 8,323 45, ,372 Growth % 2.80% 2.60% Growth % 0.30% 0.30% Owner Occupied 1, % 16, % 53, % Renter Occupied 6, % 29, % 64, % 2011 Households by HH Income 8,314 45, ,727 Income Less Than $15,000 1, % 6, % 15, % Income: $15,000 - $24,999 1, % 6, % 14, % Income: $25,000 - $34,999 1, % 6, % 14, % Income: $35,000 - $49,999 1, % 7, % 18, % Income: $50,000 - $74,999 1, % 8, % 23, % Income: $75,000 - $99, % 4, % 12, % Income: $100,000 - $149, % 3, % 11, % Income: $150,000 - $199, % 1, % 3, % Income: $200, % % 2, % 2011 Avg Household Income $43,959 $55,444 $59, Med Household Income $33,424 $40,621 $44,520

6 Property Photos

7 Income Analysis Madison Ave. Chula Vista, CA Units # Type Actual Avg. Rent Market Avg. Rent Annual Actual Rent Annual Market Rent 2 1 BD/1 BA $825 $990 $19,800 $23, BD/1 BA $1,179 $1,250 $84,888 $90,000 Total Gross Revenue $104,688 $113,760 Other Income (Garages) $7,200 $104,688 $120,960 Vacancy 3% $3,141 $3,413 Annual Gross Scheduled Income (EGI) $101,547 $117,547 Expenses: Per Unit % of EGI Taxes ( %) $1,533 12% $12,264 $12,264 Insurance $476 4% $3,805 $3,805 Licenses $ % $278 $278 Management Fees $483 4% $3,863 $4,702 Maintenance/Repairs $375 3% $3,000 $3,000 Cleaning/Janitorial $ % $125 $125 Landscaping $313 2% $2,500 $2,500 Pest Control $102 1% $816 $816 Waste Services $199 2% $1,594 $1,594 Gas, Electric, Water, Sewer $1,119 9% $8,955 $8,955 Total Expenses 37% $37,200 $38,039 Net Operating Income $64,347 $79,508 Cap Rate 5.85% 7.23% Property Value $1,100,000 $1,100,000 Gross Rent Multiplier Price Per Unit $137,500 Price Per SF $124

8 , REsume Career Summary Specializing in Multi-Family Housing, Development and Advisory Services for 18+ Years Owns and Manages 400 Apartment Units for 18+ Years Licensed in California, Lic. # Licensed in Iowa, Lic. # B Notable Accomplishments Over 4,000 Apartment Units Sold ( ) 2007 Platinum Award Winner with $48 Million in Sales 2006 Diamond Award Winner with $45 Million in Sales 2005 Diamond Award Winner with $45 Million in Sales 2004 Diamond Award Winner with $52 Million in Sales 2003 Diamond Award Winner with $43 Million in Sales $400.3 Million in Career Sales 2007/2008: Development and Lease-Up of Three 15,000 SF Retail Centers 2005 Junior Achievement Young Entrepreneur of the Year 2004 Waterloo Courier s 20 Under 40 Selection Experience Present: Vice President, NAI San Diego Present: Vice President, Sulentic Fischels Commercial Group, Iowa : President, Nooren Commercial Group and Better Living Management, Iowa 1996: Received Broker s License, Iowa : Sales Associate, Garris Miehe REALTORS, Iowa : Sales Associate, Coldwell Banker/Granger REALTORS, Iowa Professional Affiliations CCIM Candidate International Council of Shopping Centers Iowa Notary Public, 15 Years California Notary Public, 1 Year Community Activities Capital Campaign Pathways Behavioral Services Black Hawk County Eminent Domain Board (Board of Supervisor s Appointment) YWCA Board of Trustees American Red Cross Board of Directors Cedarloo Lions Club Member and Past President Landlords of Black Hawk Member, Landlords of Black Hawk President, Landlords of Black Hawk President, Landlord Law Committee for the City of Cedar Falls, 2007 (Mayoral Appointment) Boy Scout Leader Waterloo Industrial Development Association Committee Member