CLASS “A” MULTIFAMILY INVESTMENT OPPORTUNITY A LAKESIDE COMMUNITY IN DOWNTOWN TEMPE500 West 1st Street • Tempe, Arizona • 150 Units

Available For Purchase

David Fogler, +1 602 224 4443, david.fogler@cushwake.com | Steven Nicoluzakis, +1 602 224 4429, steven.nicoluzakis@cushwake.com

NUMBER OF UNITS ..........163 Units

YEAR BUILT ..........................2014

AVERAGE UNIT SIZE .......860 Square Feet

PRICE .......................................Market

TERMS ...................................All Cash

500 West 1st Street • Tempe, Arizona • 150 Units

THE OFFERINGNUMBER OF UNITS ..........150 Units

YEAR BUILT ..........................2018

AVERAGE UNIT SIZE .......±919 Square Feet

PRICE .......................................Market

TERMS ...................................All Cash

INVESTMENT FEATURES• Clubroom with gourmet kitchen• Two-story state-of-the-art fitness center• Swimming pool and spa• Poolside cabanas and outdoor entertainment

pavilion• Pool house with air-conditioned social area• Rooftop lounge with panoramic city and water

views• Outdoor gourmet grilling areas• Outdoor fire pits• Co-work space with printer• Complimentary coffee bar• Interior residential storage units• Climate controlled interior corridors• Transit TV• Complimentary beach cruisers• Gated community with smartphone access• Garage parking

INTERIORS

• Studio, 1-bedroom, 2-bedroom and penthouse units

• Gourmet kitchens with gas cooktops• Energy star appliance package• Granite countertops and modern tile back-

splashes• European-style cabinets with brushed nickel pulls• Wood-style flooring• Front-load washer/dryers in units• Walk-in closets• Nest thermostats• 19-foot ceilings in select units• En-suite bathrooms with dual vanities in select

units• Wine refrigerators in select units

CLASS “A” MULTIFAMILY INVESTMENT OPPORTUNITY A LAKESIDE COMMUNITY IN DOWNTOWN TEMPE

Cushman & Wakefield is pleased to offer LAKESIDE DRIVE, a brand new 150-unit Class “A” luxury rental community centrally located in the heart of Downtown Tempe, Arizona, just steps away from Tempe Town Lake, the Tempe Center for the Arts, and popular Mill Avenue eateries and bars. Lakeside Drive features a mix of spacious studio, one, two and three bedroom (penthouse) floor plans and superior amenities. Lakeside Drive’s location near Rio Salado Parkway and Mill Avenue provides easy access to Arizona State University, hospitals, Tempe Beach Park, movie theaters, major employers and office parks, and many shopping, dining, entertainment and recreation options. The property’s location is 1 mile away from the Loop 202 freeway and only a half-mile away from the light rail station at Mill Avenue and 3rd Street.

Best-in-Class Community by Nation’s Premier Multifamily Developer THE PROPERTY

• Clubroom with gourmet kitchen• Two-story state-of-the-art fitness center• Swimming pool and spa• Poolside cabanas and outdoor entertainment

pavilion• Pool house with air-conditioned social area• Rooftop lounge with panoramic city and water

views• Outdoor gourmet grilling areas• Outdoor fire pits• Co-work space with printer• Complimentary coffee bar• Interior residential storage units• Climate controlled interior corridors• Transit TV• Complimentary beach cruisers• Gated community with smartphone access• Garage parking

INTERIORS

• Studio, 1-bedroom, 2-bedroom and penthouse units

• Gourmet kitchens with gas cooktops• Energy star appliance package• Granite countertops and modern tile back-

splashes• European-style cabinets with brushed nickel pulls• Wood-style flooring• Front-load washer/dryers in units• Walk-in closets• Nest thermostats• 19-foot ceilings in select units• En-suite bathrooms with dual vanities in select

units• Wine refrigerators in select units

PROFORMA BASED ON CURRENT AVERAGE MARKET RENTAL RATESFINANCIAL SUMMARYUnit Type % No. NRSF Rent Per SF

Marlow (S1) Studio 19% 28 624 $1,325 $2.12 Kingston (A2) 1 Bedroom / 1 Bath 27% 41 752 $1,551 $2.06 Kingston (A2m2) 1 Bedroom / 1 Bath 4% 6 829 $1,670 $2.01 Barnes (A2m2L) 1 Bedroom / 1 Bath 1% 2 995 $1,980 $1.99 Hampton (B1) 2 Bedroom / 2 Bath 5% 8 914 $1,815 $1.99 Windsor (B2) 2 Bedroom / 2 Bath 17% 26 1,031 $1,925 $1.87 Henley (B2) 2 Bedroom / 2 Bath 4% 6 1,240 $2,205 $1.78 Tower (B3) 2 Bedroom / 2 Bath 7% 11 1,118 $2,055 $1.84 London (B3L) 2 Bedroom / 2 Bath 4% 6 1,340 $2,355 $1.76 Elizabeth (B4) 2 Bedroom / 2 Bath 3% 5 1,113 $2,045 $1.84 Channing (B4L) 2 Bedroom / 2 Bath 1% 1 1,335 $2,355 $1.76 Wallingford (B5) 2 Bedroom / 2 Bath 1% 2 1,289 $2,295 $1.78 Cannon (B6) 2 Bedroom / 2 Bath 4% 6 1,255 $2,255 $1.80 Newbridge (C1) 3 Bedroom / 3 Bath 1% 1 1,868 $3,625 $1.94 Chelsea (C2H) 3 Bedroom / 3 Bath 1% 1 1,863 $3,625 $1.95

Totals / Averages 100% 150 919 $1,781 $1.94

PROFORMA INCOMEScheduled Gross Potential Rental Income - Monthly $267,175 Scheduled Gross Potential Rental Income - Annual $3,206,100Vacancy 5.00% ($160,305)Other Loss 3.08% ($98,855)Net Rental Income $2,946,9402Total Other Income $1,350/unit $202,500Effective Gross Income Annual $3,149,440

PROFORMA EXPENSES PER UNIT ANNUALAdministrative $225 $33,750Advertising $225 $33,750Maintenance $500 $75,000Salaries $1,600 $240,000Utilities $650 $97,500Subtotal Controllable Expenses $3,200 $480,000Management Fee 2.75% $577 $86,610Property Insurance $150 $22,500Real Estate Taxes 2018 Est. $1,800 $270,000Replacement Reserve $250 $37,500Total Expenses $5,977 $896,610

NET OPERATING INCOME $2,252,831

2555 E Camelback Rd Ste 400 | Phoenix, Arizona 85016

p +1 602 954 9000 | f +1 602 468 8588 cushmanwakefield.com

David Fogler+1 602 224 4443david.fogler@cushwake.com

Steven Nicoluzakis+1 602 224 4429steven.nicoluzakis@cushwake.com

SCOTTSDALE

FOUNTAINHILLS

PARADISE VALLEY

PHOENIXSKY HARBOR

AIRPORT

PHOENIX

TOLLESONGOODYEAR

AVONDALE

SURPRISE

GLENDALE

SUNCITY

GILBERT

QUEENCREEK

CHANDLER

TEMPE

PEORIA

MESA

PAPAGO PARK

DOWNTOWNSCOTTSDALE

CAMELBACKMOUNTAINPIESTEWA

PEAK

TEMPE TOWN LAKELIGHT RAIL

TEMPE CENTEROF THE ARTS

ARIZONA STATE UNIVERSITY

CLIMATOLOGY OFFICE

1ST ST

CURRY RDWASHINGTON ST

RIO SALADO PKWY

MILL AVE

©2018 Cushman & Wakefield. All rights reserved. The information contained in this communication is strictly confidential. This information has been obtained from sources believed to be reliable but has not been verified. No warranty or representation, express or implied, is made as to the condition of the property (or properties) referenced herein or as to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). Any projections, opinions or estimates are subject to uncertainty and do not signify current or future property performance.