Presidio Flats

Investment Overview

Attractive assumable debt with a below market interest rate of 3.24% Distressed opportunity with occupancy recovery upside: currently 52.3% occupied with an average historical occupancy of 90%+ over the past five years Outstanding value-add opportunity: well-maintained asset with substantial capital spent on the exterior and curing deferred maintenance Exterior and common area upgrades include remodeled clubhouse, exterior paint, landscaping, the addition of a playscape, volleyball court and signage 76 units (58%) have received a Light Upgrade Package, typically consisting of vinyl plank flooring, painted cabinets, stainless steel appliances (9 units) and updated hardware Additional upgrade opportunities: a new owner may enhance unit interiors with higher-end finishes including quartz kitchen countertops, undermount sinks, new cabinet fronts and pulls, updated lighting and plumbing fixtures, framed bathroom mirrors, washer/dryer connections, dog yards, bark park, Nest thermostats, keyless entry, home tech package, etc.