Todd Keith

Five Stream Ventures LLC
972-836-7705

Discounted Investment Opportunity

6 Unit 3 Property Package Deal

219 West 2nd Street, 
211 West 2nd Street,  
319 West 3rd Street,
 Anderson, Indiana 46016
  

Offered by:                              
Todd Keith
214-395-0804
Todd@FiveStreamVentures.com
Table of Contents

    
Contents
Table of Contents    1
Investment Opportunity    2
Income and Expenses    3
Property Description    3
Property Highlights    4
Confidentiality    4
Disclaimer    4
Contact Information    5

This Property is offered for sale to qualified Buyers. Proof of funds is required with all offers.
Additional photos available upon request.

Investment Opportunity

Purchase Price:  $56,000                       Cost per door:  $9,333 

Building Class:    C

Location Class:   C 

Investment Benefits 
?    Solid Cash-Flowing Property
?    Pro forma cap rate 51.30%
?    Pro Forma cash on cash return 117.1%
?    5-year annual ROI 137.4% per year
?    Great Investment Opportunity
?    Room for rent increases
?    More possible value plays
?    Excellent Professional Property Management company available
?    Great Location: Anderson, IN has a population of 56,000
?    It is the county seat of Madison County which has a population 129,000
?    Ranked 69th in the Forbes List for 100 Best Places for Businesses among smaller US Metros in 2007. 
?    In the last 10 years, 15 foreign company have built facilities in Madison County creating 2,200 jobs and stabilizing the economy
?    Switzerland-based Nestle Corporation built a $920 million plant in Anderson in 2007. 
?    Other foreign investments have come from Japan-based Greenville Technologies Inc, Italy-based Sirmax North America Inc., and Japan-based NTN Driveshaft Anderson, Inc. 
?    NTN recently announced it would joint venture with NTK Precision Axle Corp to build a more than $100 million manufacturing facility in Anderson
?    Italpollina Biostimulants recently open their $10 million production facility in Anderson
    ?    Management Value Play – Mismanaged Property
?    Cap Rate on Actuals: 33.41% (Due to vacancies)
?    $18,710 actual NOI 
?    $28,726 Pro Forma NOI
?    Perfect Starter multifamily deal
?    4 minute drive to Anderson University
?    11 minute drive to Ivy Tech Community College
?    29 colleges within 50 miles of Anderson13 College & Universities within commuting distance
?    Major Employers: Greenville Technologies, Sirmax North America Inc., NTN Drive Shaft Anderson, Inc., Community Hospital Anderson, St. Vincent Health, Nestle, Carter Express, Hoosier Park, Anderson University, Walmart, Kroger/PayLess Super Markets, Ricker Oil Company, ALA Trucking, Italpollina Biostimulants, Go Electric Inc., Leclanche’ 
?    Economists estimate there are currently 800-900 jobs to be filled in Madison County
?    Indiana has the lowest unemployment rate in the region
?    Anderson unemployment rate is 3.3% and expected to drop to 3.1% over the next year. 
Opportunity:  Excellent opportunity for an investor to get on board with a stable property which offers a significant upside with rent increases.

Status:  Under contract by Todd Keith.  New Buyer will be assigned contract at close.  

Income and Expenses

Current Unit Mix & Income:

# of Units    Type    Market Rent
1    3 Bed / 1 Bath    $632
1    2 Bed / 1 Bath    $580
2    2 Bed / 1 Bath    $580
1    2 Bed / 1 Bath    $580
1    2 Bed / 1 Bath    $580
                            
Subject Property Current Rents:  $450 to $750 per month.   Actual rents are provided in the Rent Roll.

Income    Pro-Forma
Monthly Potential Income    $3,352
Gross Scheduled Income    $42,834
  Less Vacancy (10%)    (2,119)
  Less Expenses (45%)    (11,538)
Net Operating Income    $28,726

Property Description

Number of Units:  6

Style:  Two-story

Utilities:  Tenants can pay for all utilities. Owner currently pays water and gas for one unit only. Tenants pay for the rest.

Roof:  Pitched Asphalt Shingles

Construction:  Wood Frame

Current Occupancy:  83%
                     
Building Square Footage:  219 West 2nd Street – 1,548 sqft / 211  West 2nd Street – 732 sqft / 319 West 3rd – 2,234 sqft

Land Acreage:  219 West 2nd Street – 0.14 acres / 211  West 2nd Street – 0.14 acres / 319 West 3rd – 0.07 acres

Built:  219 West 2nd Street – 1885 / 211  West 2nd Street – 1890 / 319 West 3rd – 1891

Property Highlights

?    Mis-managed property could be a cash-flowing cow with proper management. 
?    Under market rents
?    Opportunity to bill back a portion of water expense to a portion of the tenants
?    Class C property in a Class C area. 
?    Stable rental neighborhood with opportunity for rent increases and further value creation 
?    4 minute drive to Anderson University
?    11 minute drive to Ivy Tech Community College
?    29 colleges within 50 miles of Anderson13 College & Universities within commuting distance
?    Nearby schools include Eastside Elementary School, Highland Jr High School and Anderson High School.
?     Nearby schools include The Excel Center – Anderson, Saint Mary School and Park Place Church of God Children's Center. 
?    The closest grocery store is Strong's Market. Nearby coffee shops include Jackrabbit Coffee and Mugs Coffee and Tea. Nearby restaurants include On Broadway, Burro Loco and Pizza King
?    Ranked 69th in the Forbes List for 100 Best Places for Businesses among smaller US Metros in 2007. 
?    In the last 10 years, 15 foreign company have built facilities in Madison County creating 2,200 jobs and stabilizing the economy
?    Rental Increase Upside

Confidentiality

It is acknowledged by reader that information furnished in this Executive Summary is in all respects confidential in nature, other than information which is in the public domain through other means and that any disclosure or use of same by reader, may cause serious damage; therefore, reader agrees not to disclose it without the express written permission of Todd Keith.

Disclaimer

Todd Keith has prepared this Executive Summary, which contains brief, selected information pertaining to the business and affairs of the property.  The information contained herein does not purport to be all inclusive nor does it purport to contain all of the information representative of the property.  Todd Keith nor any of its respective partners, officers, employees or agents makes any representation or warranty, expressed or implied, as to the accuracy or completeness of the information contained herein or otherwise expressed and conveyed and no legal liability is assumed or shall be implied with respect hereto.

Such information and statements have in many circumstances been obtained from outside sources, have not been tested or verified and may be subject to errors or omissions.  Projections, especially, are based on various assumptions and subjective determinations as to which no guaranty or assurance is given.  

Potential investors are recommended and urged to perform their own examination and investigation and not to rely on the information contained within this document or other materials otherwise provided.

Contact Information

Please contact me at the phone number or email address listed below if you are an interested party, or if you require further information.

Offered by:                              
Todd Keith
214-395-0804
Todd@FiveStreamVentures.com