OFFERING MEMORANDUM

1613 ALLISON STREET

1613 Allison Street Lakewood, CO 80214

INVESTMENT CONTACTS:

Kevin CalamePrincipal720.738.1939

Matt LewallenPrincipal720.738.1940

INVESTMENT CONTACTS:

Kevin Calame Principal 720.738.1939 Kevin@aqyre.com

Matt Lewallen Princial 720.738.1940 Matt@aqyre.com

Kaila Dee Operations Manager 720.738.1948 Kaila@aqyre.com

Dan Hawthorne Advisor 720.738.1941 Dan@aqyre.com

Hunter Schaefer Advisor 720.738.1942 Hunter@aqyre.com

Jack Sherman Advisor 720.738.1942 Jack@aqyre.com

1720 S Bellaire St. Suite 701 Denver, CO 80222 720.738.1949 • aqyre.com

� EXECUTIVE SUMMARY

� PROPERTY OVERVIEW

� LOCATION OVERVIEW

� FINANCIAL ANALYSIS

EXECUTIVE SUMMARY

OFFERING SUMMARY:Address: 1613 Allison StreetBuilding Size: 16,550 SFNumber of Units*: 25Price: $4,300,000Price/SF: $260Year Built: 1959, (Cottage in 1970), (Townhouse fully renovated in 2016)*Includes turning the office into 1Bd/1Ba

EXECUTIVE SUMMARY

AQYRE Real Estate Advisors is pleased to announce they have been retained as the exclusive marketing advisor for 1613 Allison Street, Lakewood, CO 80214. Qualified investors have the opportunity to acquire this 25-unit multifamily property located in Lakewood. The property was built in 1959, and is composed of twenty studios and five 1-Bedrooms with fifteen garages and thirty off-street parking spaces. The property is located one block on a spacious lot, giving it a quaint and uniquely private feel. The property is well maintained making it a strong opportunity.

PROPERTY FEATURES:• Ample parking• Great location near Wadsworth

Light Rail Station and numerousretail shops

• Value-add opportunity with theoffice conversion into a 1Bd/1Ba+ Garage

• Secluded unique feel providingprivacy to the property

PROPERTY OVERVIEW

PROPERTY DESCRIPTION

Total Units* 25

Total Garages 15

Year Built 1959, (Cottage in 1970), (Townhouse fully renovated in 2016)

Zoning 5-R

Building GSF** 12,167 SF

Garage GSF 4,382 SF

Total GSF 16,550 SF

Land SF 37,330 SF

Building Type Brick/Block and Frame

Off-Street Parking 30

PROPERTY OVERVIEW1613 Allison StreetLakewood, CO 80214

INVESTMENT SUMMARY

Price $4,300,000

Price/Apt. Unit $172,000

Price/SF $260

FINANCING

Loan Amount $3,010,000

Down Payment $1,290,000

Interest 4.00%

*Includes turning off ice into 1Bd/1Ba + Private Garage

**SQFT obtained from certif ied ILC Survey

PROPERTY OVERVIEW

PROPERTY OVERVIEW

1613 Allison Street1613 Allison Street

LOCATIONOVERVIEW

1. AREA OVERVIEW

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26 DIFFERENT FEDERAL AGENCIESMaking Lakewood the largest concentration of Federal agencies

outside of Washington D.C.

LOCATION OVERVIEW

LAKEWOOD

Encompassing approximately 44 square miles in Jefferson County, Lakewood sits between the Rocky Mountains and the heart of Denver. As the 5th largest city in Colorado by population, Lakewood is a key component of the 7 county Denver-Aurora-Lakewood Metropolitan Statistical Area. Surrounded by several major universities and research facilities, including the world renowned Colorado School of Mines, Lakewood has one of the most highly educated workforces in the country with 36% of residents holding a bachelor’s degree or higher. The city has dedicated more than 7,100 acres to parks and open space, with approximately 200 miles of hiking and biking trails.

Lakewood has also become a hotbed for employment in the aerospace, financial services, technology firms and government sectors with corporations such as 1stBank, The Integer Group, and HomeAdvisor holding large employment centers in Lakewood. Government is Lakewood’s most dense employment sector, largely due to the presence of the Denver Federal Center. Home to employees from 26 different Federal agencies, Lakewood boasts the largest concentration of federal agencies outside of Washington D.C. The city also hosts employment concentrations in the mining/oil and gas/energy related, medical device manufacturing, and renewable energy sectors. Recently, Denver’s RTD program has made a concerted effort to bring light rail to Denver’s west suburbs.

Lakewood has become the beneficiary of the RTD W Line which opened in 2013, giving significant boost to local business and commuters living in the city.

7,100 ACRES Dedicated to parks and open space with

approximately 200 mile of hiking and biking

LAKEWOOD DEMOGRAPHICS

Population 152,621

Population Growth 2010-2016 7.4%

Households 67,482

Household Growth 2010-2016 9.2%

Median Age 40

Total Employment 77,626

Average Household Income $76,206

Median Home Value $289,628

FINANCIAL ANALYSIS

FINANCIAL ANALYSIS // UNIT MIX

UNIT TYPE NO. OF UNITS APPROX. SF CURRENT RENT MONTHLY INCOME

PROFORMA RENT

PROFORMA MONTHLY RENT

PROFORMA RENT/SF

Studio 20 450 $862 $17,244 $925 $18,500 $2.06

1Bd/1Ba 4 525 $1,121 $4,485 $1,155 $4,620 $2.20

1Bd/1Ba - New 1 629 $- $- $1,325 $1,325 $2.11

Garage 15 292 $218 $3,273 $245 $3,675 $0.84

Total 25 Units 16,111 $25,002 $28,120

FINANCIAL ANALYSIS CURRENT PROFORMA

Projected Debt Service ($172,442) ($172,442)

Before Tax Cash Flow $43,507 $72,342

CAP Rate 5.0% 5.7%

Cash-on-Cash Return 3.4% 5.6%

Principal Reduction $53,007 $53,007

Total Return $96,515 $125,349

NET OPERATING INCOME $215,950 $244,784

FINANCING ASSUMPTION

Interest 4.00%

Amortization 30 Years

Down Payment 30%

INCOME: CURRENT PROFORMA

Gross Scheduled Rent $300,024 $337,440

Less: Vacancy (Current 3%, ProForma 5%) ($9,001) ($16,872)

Gross Rental Income $291,023 $320,568

Utility Billback (ProForma 80% of Utilities + Water) $- $12,969

Laundry $3,465 $3,465

Additional Rent ($75 monthly/person) $1,800 $-

Miscellaneous Income $360 $360

Other Income Total $5,625 $16,794

EFFECTIVE GROSS INCOME $296,648 $337,362

EXPENSES:

Taxes (Actual 2020) $15,338 $15,338

Insurance $6,157 $10,000

Repairs & Maintanence $9,847 $18,750

Management $20,765 $23,615

Utilities $7,913 $7,913

Water/Sewer $8,298 $8,298

Telephone $3,032 $-

Professional Fees $2,500 $1,500

Trash $1,163 $1,163

Lawn and Snow $3,660 $3,500

Admin/Misc. $2,025 $2,500

Total Operating Expenses $80,698 $92,577

Expenses/Unit $3,228 $3,703

NET OPERATING INCOME $215,950 $244,784

FINANCIAL ANALYSIS // CURRENT AND ONE YEAR PROJECTIONS

1613 Allison Street Lakewood, CO 80214

Price $4,300,000

Price/Unit $172,000

Price/SF $260

Cap Rate 5.0%

Unit Mix* 20 - Studio5 - 1Bd

Zoning R-5

Year Built 1959

COMPARABLE SALES

3775-3795 Grove Street Denver, CO 80211

Price $3,145,000

Price/Unit $241,923

Price/SF $211

Cap Rate N/A

Unit Mix 13 - 1Bd

Sale Date 2/1/2019

Year Built 1951

1525 Yates Street Denver, CO 80204

Price $4,250,000

Price/Unit $177,083

Price/SF $232

Cap Rate 4.23%

Unit Mix 3 - Studio21 - 1 Bd

Sale Date 12/24/2019

Year Built 1969

SUBJECT PROPERTY

6050-6054 W 38th Ave Wheat Ridge, CO 80033

Price $2,795,000

Price/Unit $174,688

Price/SF $150

Cap Rate 5.81%

Unit Mix4 - Studio9 - 1Bd6 - 2Bd

Sale Date 8/10/2018

Year Built 1946

#1 #4#2 4510 W Saint Clair Pl Denver, CO 80212

Price $6,900,000

Price/Unit $164,285

Price/SF $240

Cap Rate 4.97%

Unit Mix 34 - 1Bd8 - 2Bd

Sale Date 7/1/2019

Year Built 1973

#3

*Includes turning off ice into 1Bd/1Ba + PrivateGarage

DISCLOSURE AND CONFIDENTIALITY AGREEMENT

This confidential Offering Memorandum, has been prepared by AQYRE Real Estate Advisors, LLC (AQYRE Real Estate Advisors) for use by a limited number of qualified parties. This Offering Memorandum has been provided to you at your request based upon your assurances that you are a knowledgeable and sophisticated investor in commercial real estate projects and developments. AQYRE Real Estate Advisors recommends you, as a potential buyer/investor, should perform your own independent examination and inspection of the property described herein as 1613 Allison Street, Lakewood, CO (the “Property”) and of all of the information provided herein related to the Property. By accepting this Offering Memorandum, you acknowledge and agree that you shall rely solely upon your own examination and investigation of the Property and you shall not rely on any statements made in this Offering Memorandum or upon any other materials, statements or information provided by AQYRE Real Estate Advisors or its brokers.

AQYRE Real Estate Advisors makes no guarantee, warranty or representation about the completeness or accuracy of the information set forth in this Offering Memorandum. You are responsible to independently verify its accuracy and completeness. AQYRE Real Estate Advisors has prepared the information concerning the Property based upon assumptions relating to the general economy, its knowledge of other similar properties in the market, and on other market assumptions including factors beyond the control of the AQYRE Real Estate Advisors and the Owner of the Property. AQYRE Real Estate Advisors make no representation or warranty as to either the accuracy or completeness of the information contained herein, and the information set forth in this Offering Memorandum in not intended to be a promise or representation as to the future performance of the Property. Although the information contained herein is believed to be accurate, AQYRE Real Estate Advisors and the Property Owner disclaim any responsibility or liability for any inaccuracies. Further, AQYRE Real Estate Advisors and the Property Owner disclaim any and all liability for any express or implied representations and warranties contained in, or for any omissions from, the Offering Memorandum and for any other written or oral communication transmitted or made available to you. AQYRE Real Estate Advisors shall make available to you, as a qualified prospective investor, additional information concerning the Property and an opportunity to inspect the Property upon written request.

This Offering Memorandum and the contents are intended to remain confidential except for such information which is in the public domain or is otherwise available to the public. By accepting this Offering Memorandum, you agree that you will hold and treat Offering Memorandum in the strictest confidence, that you will not photocopy or duplicate it, or distribute it. You agree you will not disclose this Offering Memorandum or its contents to any other person or entity, except to outside advisors retained by you and from whom you have obtained an agreement of confidentiality, without the prior written authorization of AQYRE Real Estate Advisors. You agree that you will use the information in this Offering Memorandum for the sole purpose of evaluating your interest in the Property. If you determine you have no interest in the property, kindly return the Offering Memorandum to AQYRE Real Estate Advisors at your earliest convenience.

INVESTMENT CONTACTS:

Kevin Calame Principal 720.738.1939 Kevin@aqyre.com

Matt Lewallen Princial 720.738.1940 Matt@aqyre.com

Kaila Dee Operations Manager 720.738.1948 Kaila@aqyre.com

Dan Hawthorne Advisor 720.738.1941 Dan@aqyre.com

Hunter Schaefer Advisor 720.738.1942 Hunter@aqyre.com

Jack Sherman Advisor 720.738.1942 Jack@aqyre.com

1720 S Bellaire St. Suite 701 Denver, CO 80222 720.738.1949 • aqyre.com