Brian Eliason Broker Associate (605) 999-4240 brian@mitchellrealty.net

For Sale: 15 units, Class A

Multi-Family Property

Quail View Luxury Living 1400 W. 21st Ave.

Mitchell, SD 57301

List Price: $1,975,000

Interior Access Garages Included Secure Building Access Sprinklered Building Stainless Steel Appliances 10-ft ceilings No Steps or Stairs Intercom System

Brian Eliason Broker Associate (605) 999-4240 brian@mitchellrealty.net

Offering Highlights 15 2-Bdrm/1-Bath Units Class A Property New Construction Fully-Stabilized 100% Occupancy Below-Market Rent

Community/Gathering Room Exercise Room Immaculate Landscaping Spacious Bedrooms Washer & Dryer in Each Unit Well-appointed bathrooms High-End Wood Doors and Trim

Amenities

For Sale: 15 units, Class A

Multi-Family Property

Quail View Luxury Living 1400 W. 21st Ave.

Mitchell, SD 57301

Brian Eliason Broker Associate (605) 999-4240 brian@mitchellrealty.net

Common Areas: Quail View Luxury Living

1400 W. 21st Ave.

Mitchell, SD 57301

Brian Eliason Broker Associate (605) 999-4240 brian@mitchellrealty.net

Unit Interiors: Quail View Luxury Living

1400 W. 21st Ave.

Mitchell, SD 57301

Brian Eliason Broker Associate (605) 999-4240 brian@mitchellrealty.net

Peaceful, yet convenient Location In Mitchell, SD

Simple, Convenient Floor Plan

Brian Eliason Broker Associate (605) 999-4240 brian@mitchellrealty.net

Financial Highlights

* Disclaimer: Financial Highlights have been prepared and provided by Lis ng Agent as a good‐faith es mate of the poten al financial opera ons. Buyers are hereby advised to prepare their own financial projec ons and conduct their own due diligence and SHOULD NOT rely on this Pro Forma for

future financial performance. In addi on, Financial Highlights do not reflect any tax‐related benefits or risks of inves ng in real estate.

Residual Equity

Yr 5 NOI $ 159,259 Terminal Cap Rate 7.00% Sale Price $ 2,275,132 Less: Closing Costs (5%) $ 113,757 Less: Debt Payoff $ 1,549,330 Net Sale Proceeds $ 612,046

Investment Parameters

Purchase Price $ 1,975,000 Capitaliza on Rate 7.09% Yr 1 Cash‐on‐Cash 13.91% 5‐Yr IRR 27.20%

IRR Analysis Yr 0 (Purchase) Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Ini al Equity Invested (395,000) Annual Cash Flow 54,961 61,534 66,243 71,094 76,090 Residual Equity 770,893 Net (395,000) 54,961 61,534 66,243 71,094 846,983

Projected 5‐yr IRR 27.20%

Sample Debt Terms LTV 80% Down Payment $ 395,000 Loan Amount $ 1,580,000 Interest Rate 3.50% Amor za on (yrs) 30 Term (yrs) 5

Pro Forma

* Disclaimer: Financial Highlights have been prepared and provided by Lis ng Agent as a good‐faith es mate of the poten al financial opera ons. Buyers are hereby advised to prepare their own financial projec ons and conduct their own due diligence

and SHOULD NOT rely on this Pro Forma for future financial performance. In addi on, Financial Highlights do not reflect any tax‐related benefits or risks of inves ng in real estate.

Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Income 4.00%  3.00%  3.00%  3.00% 

 15 Apartment Units   $  1,145               206,100               214,344               220,774               227,398               234,219   Vacancy (projected)  5%                10,305                 10,305                 10,305                 10,305                 10,305    Net Revenue 195,795 204,039 210,469 217,093 223,914 Expenses 3.00%  3.00%  3.00%  3.00%   Prop Mgmt (projected)  6.00%                11,748                 12,100                 12,463                 12,837                 13,222  

  Maintenance (actual)                    5,237                   5,394                   5,555                   5,722                   5,894    Lawn/Snow (actual)                    4,644                   4,783                   4,926                   5,074                   5,226    RE Taxes (projected)  1.00%                19,750                 20,343                 20,953                 21,581                 22,229    Insurance (actual)                    5,569                   5,736                   5,908                   6,085                   6,268    Electric (actual)                    2,800                   2,884                   2,970                   3,060                   3,151    Water (actual)                    3,535                   3,641                   3,751                   3,863                   3,979    Garbage (actual)                    1,383                   1,425                   1,468                   1,512                   1,557    Internet (actual)                     1,030                   1,061                   1,092                   1,125                   1,159   Total Opera ng Exp's 55,695 57,366 59,087 60,860 62,686

Net Opera ng Income 140,100 146,673 151,382 156,233 161,229

Less: Debt Service 85,139 85,139 85,139 85,139 85,139 Net Cash Flow 54,961 61,534 66,243 71,094 76,090

Cash‐on‐Cash % Return 13.91% 15.58% 16.77% 18.00% 19.26%

Brian Eliason Broker Associate (605) 999-4240 brian@mitchellrealty.net

For More Information or a Property Tour of:

Brian Eliason Broker Associate

(605) 999 - 4240 Brian@MitchellRealty.net

Quail View Luxury Living

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