37 FOURPLEXES ARE NOW AVAILABLE€¦ · CAP RATE AFTER INCLUDING CONSTRUCTION LOAN COSTS IN...

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PRECONSTRUCTION OPPORTUNITY FOR FOURPLEX APARTMENTS IN THE CITY OF EDINBURG, TEXAS 37 - UNIT MULTI-FAMILY FOURPLEX COMMUNITY SINGLE OR BULK PACKAGES OF FOURPLEXES FOR SALE EDINBURG, TEXAS CONSTRUCTION AND LOT PACKAGES AVAILABLE BY UNION SQUARE APARTMENTS, LLC Sales and Project Information: Ryan Harris Principal, Managing Member Union Square Apartments, LLC [email protected] (310) 560-9111 Business Office: 5127 S Business Hwy 281, Edinburg, Texas, USA 78539 Sales and Project Information: Janet Clement Principal, Managing Member Union Square Apartments, LLC [email protected] (310) 347-7025 37 FOURPLEXES ARE NOW AVAILABLE

Transcript of 37 FOURPLEXES ARE NOW AVAILABLE€¦ · CAP RATE AFTER INCLUDING CONSTRUCTION LOAN COSTS IN...

Page 1: 37 FOURPLEXES ARE NOW AVAILABLE€¦ · CAP RATE AFTER INCLUDING CONSTRUCTION LOAN COSTS IN ACQUISITION COST 8.3% 9.0% 8.3% 9.0% 8.7% UNION SQUARE APARTMENTS DISCLAIMER AND NOTICE

PRECONSTRUCTION OPPORTUNITY FOR FOURPLEX APARTMENTS INTHE CITY OF EDINBURG, TEXAS

37 - UNIT MULTI-FAMILY FOURPLEX COMMUNITY

SINGLE OR BULK PACKAGES OF FOURPLEXES FOR SALEEDINBURG, TEXAS

CONSTRUCTION AND LOT PACKAGES AVAILABLE BY UNION SQUARE APARTMENTS, LLC

Sales and Project Information:

Ryan HarrisPrincipal, Managing MemberUnion Square Apartments, [email protected](310) 560-9111

Business Office: 5127 S Business Hwy 281, Edinburg, Texas, USA 78539

Sales and Project Information:

Janet ClementPrincipal, Managing MemberUnion Square Apartments, [email protected](310) 347-7025

37 FOURPLEXES ARE NOW AVAILABLE

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36 FOURPLEXES RESERVED ALREADY NEW CONSTRUCTION 2020-2021 OFFICIAL GROUNDBREAKING WAS ON NOVEMBER 2019 VERTICAL CONSTRUCTION TO BEGIN JUNE 2020 8%+ PROFORMA CAP RATE 392 UNITS IN COMMUNITY 33 ACRES DEVELOPED (37 GROSS ACRES) PROVEN FOURPLEX FORM-FACTOR EACH FOURPLEX IS A SEPARATE PROPERTY 2:1 COVERED PARKING COMMUNITY PARK GATED COMMUNITY LOCATED IN MARKET WITH 1,000,000+ PEOPLE THAT WILL

ADD 770,000 NEW RESIDENTS IN THE NEXT 30 YEARS. LOCATED IN 5TH LARGEST MSA (METROPLEX) IN TEXAS NEAR UNIVERSITY OF TEXAS RGV AND DOWNTOWN

EDINBURG FOURPLEX + LOT PACKAGES FOR SALE. WE ARE NOT SELLING

LOTS SEPARATE FROM THE FOURPLEX. BUYERS MUST START CONSTRUCTION AT CLOSING.

BUY ONE FOURPLEX, TEN FOURPLEXES OR ENTIRE PHASE 2. IT IS ESTIMATED THAT ALL 98 FOURPLEXES CAN BE BUILT

WITHIN 18 MONTHS OF THE START OF VERTICAL CONSTRUCTION. WITH EACH PHASE TAKING APPROXIMATEDLY 6 MONTHS TO COMPLETE.

Sugar Rd.

Russel Rd. / 17 ½ Mile Rd.

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UNION SQUARE APARTMENTS, LLC proudly presents Edinburg, Texas newest multi-familyapartment community. Union Square Apartments spans over 33 developed acres, just a shortdistance from the downtown business district and the Univeristy of Texas RGV campus. Thesurrounding neighborhood is near quality public schools, coffee shops, supermarkets, farmersmarkets. wine bars, fine dining, yoga classes, day care, parks and recreation, stadiums andentertainment venues, and a Univeristy of Texas campus with over 19,000 students just outsideof the gates.

Featuring 98 fourplexes, Union Square Apartments will be Edinburg’s Premier gated apartmentcommunity built to custom home standards with real stone, real brick, and high-end finishes.There is no stucco or foam used in their construction. Stainless steel refrigerators, washer anddryers, and window coverings are included in the package. They come with a one-year builderwarranty and a 10-year structural warranty.

McAllen – Edinburg – Mission Metropolitan Statistical Area (MSA) is one of the fastest growingin the nation. It has a population over 1M now and is projected to grow to 1.8M by 2050. Thisis one of the most compelling markets in all of Texas and enjoys high occupancy rates.

Builder is offering fourplex and lot packages only. No land is being offered without aconstruction contract to build upon it. Bank financing may be available to qualified buyers withas little as 20% down.

The City of Edinburg saw an increase in its population of over 8,400 in 2018 with only 600 new apartments added in 2019.

THE TEAMFoued Abboud, Guillermo Abboud, RyanHarris, and Janet Clement are officers andmanaging members in Union SquareApartments, LLC. The Abboud brothersand their families have been buildingcustom homes and fourplex apartmentslocally for over ten years. Over the leastfew years they began to work withdevelopers Ryan Harris and Janet Clement

on fourplex projects in and around Edinburg. What began as a builder – client relationship has evolved into a business partnership – Union Square Apartments, LLC. Harris and Clement are co-owners of Univeristy Green Development, LLC, the developer of a 404-unit student condo community near Florida State University in Tallahassee, FL set on 40-acres. Both Union Square Apartments and University Green Student Condos are purpose built as rental communities. The Build-to-Rent model works best when it is part of the plan from day one.

There is no requirement to use any property manager. There are local property management companies that would compete for your business should you want to outsource that function. The local occupancy rates for apartments are high as is the demand.

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RESERVED

ON HOLD

AVAILABLE

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AVAILABLE

Most, but not all, lots fit the Model XL.

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DEVELOPMENT TIMELINE

GroundbreakingNovember 2019

Site Work February 2020

Vertical Construction Begins2nd QTR 2020

Resident Move Ins Begin 4th QTR 2020

Community Complete4th QTR 2021

ALL FUTURE DATES ARE ESTIMATES ONLY. ACTUAL DATES WILL VARY.

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DEAL STRUCTURE

The process of owning in Union Square Apartments is simple and strait forward. As is the convention in this marketplace – the buyer closes on the lot or lots and then hires a builder to build the fourplex to the specs. In this case,Union Square Apartments, LLC is both the Builder and the Seller of the land offing the convenience of a one-stop shop. You must close on the land and the construction contract. There will be no lot only sales. The number of drawsmay vary as well as the % completed at each draw for a single fourplex. For 37 fourplexes the lots will all be closed at the same time and the Builder will begin approximately 12 fourplexes per month. Total construction time is 4-6months per fourplex. This means that the group of 37 fourplex would be complete between 6-9 months time.

• RESERVATION STAGE - NOWLock in your price and choose your lot(s). Open escrow with a $5,000 per fourplex earnest money deposit to be held at title until closing. Lots are moving fast at these prices and this location.

• CLOSING STAGE – 4th QTR 2020 ESTIMATEClose the construction loan (unless paying cash) which will pay for the lot(s) and commence the construction loan for the build.

• CONSTRUCTION STAGE #1 – 20%Builder will use our own capital to get to prepare site, plumb site, and pour the foundation, as an example of a typical stage of completion for the first draw.

• DRAW #1 – 20%City inspector signs off on work. Builder submits a draw request. The bank will use a third-party inspector to determine % of completion. Owner can have your own inspector verify. Owner Signs off on Draw Request.Builder is reimbursed for work completed.

• CONSTRUCTION STAGE #2 – 20%Builder will use our own capital to get to get to the next state of construction – electrical, framing, ducting, and roofing.

• DRAW #2 – 20%City inspector signs off on work. Builder submits a draw request. The bank will use a third-party inspector to determine % of completion. Owner can have your own inspector verify. Owner Signs off on Draw Request.Builder is reimbursed for work completed.

• CONSTRUCTION STAGE #3 – 40%Builder will use its own capital to get to complete the brick and stone exteriors and finish the interior and finish the interior.

• DRAW #3 – 40%City inspector signs off on work. Builder submits a draw request. The bank will use a third-party inspector to determine % of completion. Owner can have your own inspector verify. Owner Signs off on Draw Request.Builder is reimbursed for work completed.

• CONSTRUCTION STAGE #4 – 20%Builder completes finishwork, the fencing, driveways, carports, HVAC, and landscaping with its own capital. The fourplex is 100% complete. Banks third party inspector, owner and/or owner’s inspector sign off after allconstruction issues, if any, have been satisfied or fixed.

• DRAW #4 – 20%City inspector issues Certificate of Occupancy. Builder submits a final draw request. The bank will use a third-party inspector to determine % of completion. Owner can have your own inspector verify. Owner Signs off onfinal draw Request. Builder is reimbursed for work completed.

• BUILD COMPLETEThe owner is now the proud owner of a quality fourplex that can be rented and occupied immediately. A builder warranty is now in effect.

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DEAL STRUCTURE

This is an example of the completion and inspection reporting for a single fourplex.

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ELEMENTARY SCHOOL HIGH SCHOOL

IDEA EDINBURG (CHARTER SCHOOL)

DOWNTOWN EDINBURG

MIDDLE SCHOOL

690 MAJOR FREEWAY

UNIVERSITY OF TEXAS RGV

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UNIVERSITY OF TEXAS RGV

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The same principals and the same subcontractors that build 70 fourplexes in the 2018 and 2019 in these two Edinburg fourplex communities will build fourplexes at Union Square Apartments as Union Square Apartments, LLC.

THIS IS A SAMPLE OF TWO RECENTLY COMPLETED FOURPLEX COMMUNITY FOR REFERENCE.

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Click Button to see 1 Min Video of a recently completed fourplex community in Edinburg. You can also see another completed fourplex community in some of the shots.

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1 1 18 19 37MODEL A MODEL XL MODEL A MODEL XL PACKAGE

SQ FT 3,960 4,294 71,280 81,586 152,866 PRICE CHARGED BY BUILDER FOR LOT AND BUILD 325,000$ 345,000$ 5,850,000 6,555,000 12,405,000 ESTIMATED CONSTRUCTION LOAN COSTS (WILL VARY) 10,000$ 12,000$ 180,000 228,000 408,000 TOTAL COST 335,000$ 357,000$ 6,030,000$ 6,783,000$ 12,813,000$ MONTHLY GROSS RENT 3,400$ 3,800$ 61,200 72,200 133,400 ANNUAL GROSS RENT (ESTIMATE - MAY VARY) 40,800$ 45,600$ 734,400$ 866,400$ 1,600,800$ VACANCY PROVISION 4% (1,632)$ (1,824)$ (29,376)$ (34,656)$ (64,032)$ ANNUAL EFFECTIVE INCOME 39,168$ 43,776$ 705,024$ 831,744$ 1,536,768$

Est. HOA Dues (500)$ (500)$ (9,000) (9,500) (18,500) Est. Homeowner's Insurance (984)$ (984)$ (17,712) (18,696) (36,408) Est. Property Taxes (Based on actual Model A rates in Edinburg for 2020.) (7,800)$ (8,000)$ (140,400) (152,000) (292,400) Water/Electricity/Trash - Common Area (Tenants pay own Water & Power) (1,035)$ (1,035)$ (18,630) (19,665) (38,295) Landscaping (gravel side and rear yards) (800)$ (800)$ (14,400) (15,200) (29,600) Maintenance/Pest Control (350)$ (350)$ (6,300) (6,650) (12,950) Total Expenses (11,469)$ (11,669)$ (206,442)$ (221,711)$ (428,153)$

ANNUAL NET INCOME 27,699$ 32,107$ 498,582$ 610,033$ 1,108,615$ CAP RATE ASSUMING ALL CASH PURCHASE WITH NO CONSTRUCTION LOAN 8.5% 9.3% 8.5% 9.3% 8.9%CAP RATE AFTER INCLUDING CONSTRUCTION LOAN COSTS IN ACQUISITION COST 8.3% 9.0% 8.3% 9.0% 8.7%

UNION SQUARE APARTMENTS

DISCLAIMER AND NOTICE1 All purchasers and prospective purchasers need do their own due diligence and cast their own projections and reply on their own work. These spreadsheets are intended to be the basis for discussions and by no means is any return or outcome promised by virtue of being in this spreasheet. 2 This spreadsheet is a product of Union Square Apartments, LLC and not any individual. It may contain errors and incorrect assumptions. There are no warranties as it its accuracy.3 Prices subject to change without notice. No offer is created and no property is being offered in this spreadsheet. It is for discussion purposes only.4 Rents are estimates only. They may be lower or higher than shown. There is no assurance that you will be able to raise rents in the future. All prospective purchasers should use their own income and expense figures and not reply on these to make their decision.5 Buyers are respoinsible for doing all their own leasing and setting their own rates etc. This spreadsheet shows a third party property management company's involvement and expenses. Use of a property management company is purely optional. Actual prop management fees must be negotiated with the third party provider6 This spreadsheet is intended for Accredited Savvy Investors only. By reviewing this spreadsheet you agree to hold Union Square Apartments, LLC harmless for any liability that may arise due to an error or ommission contained herein. No guaranties are made, directly or indirectly about any income, cash-flow, cap rate, or retur7 Lease up carry may be longer than shown and could add to the costs. All buyers need to be comfortable with their own assuptions. 8 No income taxes are considered in this analysis. Buyers to discuss the possibility for Accellerated Depretiation with their tax professionals.9 The referenced 3BR/2BA may be and will be permitted as 2BR+Den / 2 BA so that the parking requirement is 2 spaces per dwelling and not 3 spaces per dwelling.

10 Square Footage for each model type may vary slightly from the amounts listed.

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Quantity of Fourplexes 1 1 18 19 37MODEL A MODEL XL MODEL A MODEL XL PACKAGE

SQ FT 3,960 4,294 71,280 81,586 152,866 PRICE CHARGED BY BUILDER FOR LOT AND BUILD 325,000$ 345,000$ 5,850,000 6,555,000 12,405,000 ESTIMATED CONSTRUCTION LOAN COSTS (WILL VARY) 10,000$ 12,000$ 180,000 228,000 408,000 TOTAL COST 335,000$ 357,000$ 6,030,000$ 6,783,000$ 12,813,000$ MONTHLY GROSS RENT 3,400$ 3,800$ 61,200 72,200 133,400 ANNUAL GROSS RENT (ESTIMATE - MAY VARY) 40,800$ 45,600$ 734,400$ 866,400$ 1,600,800$ VACANCY PROVISION 4% (1,632)$ (1,824)$ (29,376)$ (34,656) (64,032)$ ANNUAL EFFECTIVE INCOME 39,168$ 43,776$ 705,024$ 831,744$ 1,536,768$

Property Management Fee at 5% of collected rents (1,958)$ (2,189)$ (35,251) (41,587) (76,838) Lease Up Fees at $400/Each new lease and 2 Required per year once stabilized. (800)$ (800)$ (14,400) (15,200) (29,600) Est. HOA Dues (500)$ (500)$ (9,000) (9,500) (18,500) Est. Homeowner's Insurance (984)$ (984)$ (17,712) (18,696) (36,408) Est. Property Taxes (Based on actual Model A rates in Edinburg for 2020.) (7,800)$ (8,000)$ (140,400) (152,000) (292,400) Water/Electricity/Trash - Common Area (Tenants pay own Water & Power) (1,035)$ (1,035)$ (18,630) (19,665) (38,295) Landscaping (gravel side and rear yards) (800)$ (800)$ (14,400) (15,200) (29,600) Maintenance/Pest Control (350)$ (350)$ (6,300) (6,650) (12,950) Total Expenses (14,227)$ (14,658)$ (256,093)$ (278,498)$ (534,591)$

ANNUAL NET INCOME 24,941$ 29,118$ 448,931$ 553,246$ 1,002,177$ CAP RATE ASSUMING ALL CASH PURCHASE WITH NO CONSTRUCTION LOAN 7.7% 8.4% 7.7% 8.4% 8.1%CAP RATE AFTER INCLUDING CONSTRUCTION LOAN COSTS IN ACQUISITION COST 7.4% 8.2% 7.4% 8.2% 7.8%

UNION SQUARE APARTMENTS - WITH HYPOTHETICAL PROPERTY MANAGEMENT FEES SHOWN

DISCLAIMER AND NOTICE1 All purchasers and prospective purchasers need do their own due diligence and cast their own projections and reply on their own work. These spreadsheets are intended to be the basis for discussions and by no means is any return or outcome promised by virtue of being in this spreasheet. 2 This spreadsheet is a product of Union Square Apartments, LLC and not any individual. It may contain errors and incorrect assumptions. There are no warranties as it its accuracy.3 Prices subject to change without notice. No offer is created and no property is being offered in this spreadsheet. It is for discussion purposes only.4 Rents are estimates only. They may be lower or higher than shown. There is no assurance that you will be able to raise rents in the future. All prospective purchasers should use their own income and expense figures and not reply on these to make their decision.5 Buyers are respoinsible for doing all their own leasing and setting their own rates etc. This spreadsheet shows a third party property management company's involvement and expenses. Use of a property management company is purely optional. Actual prop management fees must be negotiated with the third party provider6 This spreadsheet is intended for Accredited Savvy Investors only. By reviewing this spreadsheet you agree to hold Union Square Apartments, LLC harmless for any liability that may arise due to an error or ommission contained herein. No guaranties are made, directly or indirectly about any income, cash-flow, cap rate, or retur7 Lease up carry may be longer than shown and could add to the costs. All buyers need to be comfortable with their own assuptions. 8 No income taxes are considered in this analysis. Buyers to discuss the possibility for Accellerated Depretiation with their tax professionals.9 The referenced 3BR/2BA may be and will be permitted as 2BR+Den / 2 BA so that the parking requirement is 2 spaces per dwelling and not 3 spaces per dwelling.

10 Square Footage for each model type may vary slightly from the amounts listed.

DISCLAIMER AND NOTICE1 All purchasers and prospective purchasers need do their own due diligence and cast their own projections and reply on their own work. These spreadsheets are intended to be the basis for discussions and by no means is any return or outcome promised by virtue of being in this spreasheet. 2 This spreadsheet is a product of Union Square Apartments, LLC and not any individual. It may contain errors and incorrect assumptions. There are no warranties as it its accuracy.3 Prices subject to change without notice. No offer is created and no property is being offered in this spreadsheet. It is for discussion purposes only.4 Rents are estimates only. They may be lower or higher than shown. There is no assurance that you will be able to raise rents in the future. All prospective purchasers should use their own income and expense figures and not reply on these to make their decision.5 Buyers are respoinsible for doing all their own leasing and setting their own rates etc. This spreadsheet shows a third party property management company's involvement and expenses. Use of a property management company is purely optional. Actual prop management fees must be negotiated with the third party provider6 This spreadsheet is intended for Accredited Savvy Investors only. By reviewing this spreadsheet you agree to hold Union Square Apartments, LLC harmless for any liability that may arise due to an error or ommission contained herein. No guaranties are made, directly or indirectly about any income, cash-flow, cap rate, or retur7 Lease up carry may be longer than shown and could add to the costs. All buyers need to be comfortable with their own assuptions. 8 No income taxes are considered in this analysis. Buyers to discuss the possibility for Accellerated Depretiation with their tax professionals.9 The referenced 3BR/2BA may be and will be permitted as 2BR+Den / 2 BA so that the parking requirement is 2 spaces per dwelling and not 3 spaces per dwelling.

10 Square Footage for each model type may vary slightly from the amounts listed.

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MODEL XL

3BR/2BA

3BR/2BA

3BR/2BA

3BR/2BA

The Model XL is a proven design and is popular with area renters. ThePrincipals of Union Square Apartments, LLC have built many of theseall 3BR Units (legally they are 2BR + Den and not 3BR Units to getaround the parking requirement for 3BR units) in McAllen, Edinburg,Mission MSA. They rent up fast.

All of the lots in Phase 2 of Union Square Apartments canaccommodate the Model XL. The back units all have a private sideyard and backyard. The front units have private side yards only.

The price of $345,000 is the cash price. There are a few local banksthat are willing to loan 80% of the total price to qualified borrowers.The rough rule of thumb for construction and lease-up related feesands interest expenses is around $12-14K in addition to the price of$345,000 but will vary depending on your loan terms and the time ittakes to lease up.

Ask about special incentives for bulk buyers.

Square Footage: 4,294 Square FeetUnit Mix: 4- 3BR/2BA (Legal 2BR+DEN) – 1,174 SFParking: 8 Spaces of Covered ParkingEstimated Rent: $3,800/Mo $45,600/YearLot Size: ~10,000Price w/Lot: $345,000

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MODEL XL

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MODEL XL

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MODEL XL

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MODEL XL

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MODEL XL

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MODEL A

VARIETY PACK

Square Footage: 3,960 Square FeetUnit Mix: 1-1BR/1BA – 790 sf

1- 3BR/2BA – 1,188 SF2 - 2BR/2BA – 990 SF each

Parking: 8 Spaces of Covered ParkingEstimated Rent: $3,400/Mo $40,800/YearLot Size: ~10,000Price w/Lot: $325,000

EXTRA ONES AND THREES PLEASE

Square Footage: 3,960 Square FeetUnit Mix: 2-1BR/1BA – 790 sf

2- 3BR/2BA – 1,188 SFParking: 8 Spaces of Covered ParkingEstimated Rent: $3,400/Mo $40,800/YearLot Size: ~10,000Price w/Lot: $325,000

The Model A is a proven design and is popular with arearenters. The Principals of Union Square Apartments, LLChave built over 70 Model A fourplexes in Edinburg alone.The rental figures are actual figures achieved in othercommunities in Edinburg.

All of the lots can accommodate either version of the ModelA. The VARIETY PACK gives you one 1BR, one 3BR, and two2BR units. EXTRA ONES AND THREES PLEASE eliminates the2BR set altogether and replaces it with more an additionalside of one and three bedroom units. Local propertymanagers report the 1 BRs and 3BR Units rent the fastest.Whichever unit mix you decide to go with the MODEL A is anexcellent choice and value.

The back units all have a private side yard and backyard. Thefront units have private side yards only.

The price of $325,000 is the cash price. There are a few localbanks that are willing to loan 80% of the total price toqualified borrowers. The rough rule of thumb forconstruction and lease-up related fees ands interestexpenses is around $10-12K in addition to the price of$325,000 but will vary depending on your loan terms and thetime it takes to lease up.

There may be incentives available for bulk buys.

1BR/1BA

3BR/2BA 2BR/2BA

2BR/2BA 1BR/1BA 1BR/1BA

3BR/2BA 3BR/2BA

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One Fourplex

UNION SQUARE MODEL A SERIES WILL LOOK LIKE THIS.

MODEL A

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MODEL A

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MODEL A

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TexasTexas is the #2 largest U.S. State in terms of surface area and total population. Its economy is larger than thenations of Australia and South Korea. It’s a great place to own rental property as it is landlord friendly and agrowing population ensures a need for housing well into the future. Not all geographical areas in Texas aresharing in the dramatic population increase. The map on the lower right side shows where the greatestconcentrations of populations can be found.

Source: http://worldpopulationreview.com/us-counties/tx/hidalgo-county-population/ Arrows points to our county.

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The McAllen – Edinburg – Mission MSA Metroplex

This is the 5th Largest Metroplex in the State andgrowing. The 2020 current population is estimatedat 1M and is projected to hit 1.8M by 2050. Once anmetroplex passes 1M residents it starts to getstadiums, arenas, and professional sports teams.That has already started here.

The TOP 4 MSA in Texas are mature and the low caprates reflect that. There is still time to enter theMcAllen+ MSA at an attractive price point withplenty of upside and higher current cash flow.

The MSA is home to the McAllen Foreign Trade Zone#12, which houses about 410 companies from 42countries and facilitated more than $30 billion inborder trade during 2015 (McAllen Foreign TradeZone Board; most recent data available). La Plazashopping mall in McAllen, owned by Simon Malls,reports $400M in annual sales – much of it to crossborder shoppers. There is over $3B in retail sales onan annual basis in the MSA. With its numerous top-rated hospitals this MSA is the first-choicedestination for health care for wealthy Mexicansseeking the best quality care. This is the point ofentry for all tropical fruit that is imported into theUnited States from Mexico and Central America.Firms from South Korea have been setting upfactories here. The new USMCA will only increasethe level of companies moving into the MSA, like themany South Korean firms.

That was 10 years ago. Now the population here is over 1M people.

Page 27: 37 FOURPLEXES ARE NOW AVAILABLE€¦ · CAP RATE AFTER INCLUDING CONSTRUCTION LOAN COSTS IN ACQUISITION COST 8.3% 9.0% 8.3% 9.0% 8.7% UNION SQUARE APARTMENTS DISCLAIMER AND NOTICE

LOCAL UNIVERISTIES AND COLLEGES

https://www.utrgv.edu/school-of-medicine/index.htmhttps://www.utrgv.edu/en-us/about-utrgv/administration/index.htm

https://mcallen.tamu.edu/ https://www.southtexascollege.edu/

Page 28: 37 FOURPLEXES ARE NOW AVAILABLE€¦ · CAP RATE AFTER INCLUDING CONSTRUCTION LOAN COSTS IN ACQUISITION COST 8.3% 9.0% 8.3% 9.0% 8.7% UNION SQUARE APARTMENTS DISCLAIMER AND NOTICE

This presentation is for informative and discussion purposes only. No property is for sale at this time. Union Square Apartments, LLC is accepting refundable reservation deposits only and entertaining offersuntil it can legally begin entering into binding contracts. Nothing herein including floorplans, renderings, and photos should be construed as final and are subject to change. Variation may occur. Seller of lotsand the builder of the fourplexes is Union Square Apartments, LLC. Union Square Apartments, LLC has an exclusive takedown agreement with the land developer Acero Investments, LLC to buy 100% of thefinished lots at Union Square Apartments for resale to purchasers who enter into an agreement to build a fourplex upon said lots. There is some common ownership between Union Square Apartments, LLCand Acero Investments, LLC. Full disclosures are included in documents and available upon request. No lot sales are being made without a contract to build a fourplex. Plans are subject to change withoutnotice. All interested parties must do their own due diligence and rely on their own projections. All estimates and projections are for YEAR 1 only – actual results may be more or less favorable than theprojection. In future years, rents and expenses may be higher or lower than the estimates shown herein. Availability and pricing subject to change at any time, without notice. There is no guaranty of anyreturn or cap rate. No guaranty that there will be available financing. All fourplexes are delivered vacant. Buyers assume all risks and rewards of property ownership. Not intended as a solicitation injurisdictions where prior registration is required. Equal opportunity housing. Not responsible for errors, buyers to verify all figures prior to purchase.

For more information contact:

Ryan HarrisPrincipal, Managing MemberUnion Square Apartments, [email protected](310) 560-9111

5127 S Business 281, Edinburg, Texas, USA 78539

Janet ClementPrincipal, Managing MemberUnion Square Apartments, [email protected](310) 347-7025