48,401 Total Square Feet 100% Leased includes 16 apartments, 8 commercial retail units, and one 21k SF department store. Owners have not raised the 16 apartment rents since 2001. Fair market value would be at least $150,000 more in net income. Also large opportunity for development. Great location close to the expressway, commercial units are very busy. Complete Financial Highlights: • Net Operating Income (NOI): $352,497.49 • Gross Income: $538,080 • Total Expenses: $185,582.51 • Utilities: $16,310 • Taxes: $142,261.55 • Insurance: $21,528.14 • Legal/Accounting: $5,482.82 Asset Segmentation by Building Type: Twin-Buildings (16 Apartments + 8 Commercial Units): - Income: $345,000 Expenses: $95,000 NOI: $250,000 21,000 SF Building (AAP Building): Income: $192,000 Tax: $89,431 Accounting: $750 Insurance: (paid by AAP) ~NOI: $102,819 Analysis of Present and Projected Rental Income Streams: • 16 Apartments: • Current Income: $144,780 • Estimated FMV: $246,000 (with 1 bed @$1,250/month and 2 Bed @$1,500/month) • 8 Retail Storefronts: • Current Income: $201,300 • Estimated Fair Rent Value: $246,884 • 21K SF Store: • Current Income: $192,000 (Estimated FMV $252,000)