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HILLCREST APARTMENTSC O M M U N I T Y O F F E R I N G

SETH WILSON 402-218-6973

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OFFERING OVERVIEWSierra Whiskey Properties is pleased to present HillCrest Apartments, a 44 unit multifamily community located in Riverside, Missouri. The property is very well located and positioned in its submarket—minutes away from downtown Kansas City and seconds away from Argosy Casio, the highly ranked Park Hill South High School, New Horizons Business Park and the Briarcliff Village development.

In the recent years the ownership has added nearly $400,000 in capital improvements, a full list may be seen on the Property Description page.

PROPERTY HIGHLIGHTS

• Property and current management are in great shape and high performance.

• Two blocks away from Riverside City Hall and community center.

• Located just off of I-635 and highway 9 adding to the desirability of the location.

• Top rated Park Hill South school district.

• Three floor plans available--Dedicated office and maintenance space.

• Brokers Protected at 3%.

PROPERTY SUMMARY

Asking Price $3,000,000

TermsFree & Clear or Long-term Freddie Mac

loan assumption available

Property Address4800 NW Cliff View Drive

Riverside, MO 64152

Year Built 1956

Units 44

Occupancy 95%

Rentable Area 39,222 ft2

Average Unit Size 805 ft2

Average Rent Ft2 $0.80

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AERIAL VIEW

SUBJECT PROPERTY

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PROPERTY DEMOGRAPHICS

POPULATION 1 MILE 3 MILE

Total Population 2,691 39,386

2022 Population 2,856 41,888

Pop Growth 2017-2022 6.13% 6.35%

Average Age 38.70 38.00

HOUSEHOLDS

2017 Total Households 1,205 16,628

HH Growth 2017-2022 6.06% 6.36%

Median Household Inc $40,425 $57,165

Avg Household Size 2.10 2.30

2017 Avg HH Vehicles 1.00 2.00

HOUSING

Median Home Value $170,348 $167,397

Median Year Built 1969 1974

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PROPERTY DESCRIPTION

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PROPERTY DEMOGRAPHICS

PROPERTY DESCRIPTION

Address4800 NW Cliff View Drive Riverside, MO 64152

Year Built 1956

Number of Units 44

Rentable Area 39,222ft2

Average Unit 860 ft2

Land Area 2.87 Acres

Number of Buildings 4

Floors per Building 2

Parking Spaces 48

Parking Density 1.09

Zoning R3

UTILITY DESCRIPTION

SERVICE PAID BY

Electricity Tenant

Gas Tenant

Water/Sewer Owner

Trash Owner

CAPITAL IMPROVEMENTS

Parking Lot Resurfacing (2017)

All New Windows (2016)

All Interiors Rehabbed (2016-2017)

Numerous HVACs Replaced (>75%)

Painted Building Exterior (2016)

Replaced Retaining Walls, Steps and Building Entrances

Replaced Roofs, Guttering, Stairs, Landings and Decks

Replaced All Electrical Panels in Units (2014)

Exterior Light Enhancements (2017)

Landscaping & Tree Removal (2016-17)

Replaced Many Exterior Doors (2014)

Enhanced Storage and Laundry Facilities (2017)

CONSTRUCTION DESCRIPTION

Exteriors Partial Brick

Roofs Pitched Shingle

Windows Single-Hung all new 2016

Foundation Full Basements Poured Foundation

Framing Wood

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PROPERTY DEMOGRAPHICS

INTERIOR DESCRIPTION

Flooring Wood Grain Sheet Vinyl-Carpet and Pad in Bedrooms

Kitchens Updated Appliances, and hardware

UNIT MIX

UNIT TYPE NUMBER RENT SQ FT TOTAL SQ FT

1 BR / 1 BA 8 $665 660 5,280

2 BR / 1 BA 20 $715 840 16,800

2 BR / 1.5 BA 16 $730 985 15,760

TOTAL/AVG 44 $711 860 37,840

REAL ESTATE TAXES

Tax Jurisdiction Platte County

Parcel IDs23-2.0-04-300-002-004.00023-2.0-04-300-002-003.000

TOTAL REAL ESTATE TAX $11,360

MECHANICAL DESCRIPTION

HVAC Electric Central Air-Forced Air Gas

Hot Water Individual Gas

Laundry Two On-Sight Locations

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RENT COMPARABLES

UNIT STYLE # OF UNIT UNIT SQ FT RENT RENT PER FT2

1 BD / 1 BA 18 725 $700 $0.83

2 BD / 1 BA 45 980 $800 $0.78

2 BR / 1 BA 45 980 $850 $0.78

Rivermont4424 Hon Dr.

Riverside, MO 64150

Year Built: 1970

# of Units: 108

Utilities Water, Sewer and Trash Paid by Owner

Unit Features Balcony*, dishwasher, fireplace*, garbage disposal

Amenities Clubhouse, Pool

UNIT STYLE # OF UNIT UNIT SQ FT RENT RENT PER FT2

1 BD / 1 BA 60 650 $776 $1.19

2 BD / 1 BA 15 865 $863 $1.00

2 BD / 1 BA 14 975 $1,023 $0.95

2 BD / 2BA 1 1020 $1,050 $0.97

Year Built: 1970

# of Units: 60

Utilities Paid for by Owner

Unit Features Dishwasher, Garbage Disposal

Amenities Pool

Chateau D’Mons4403 NW D’Mons Dr Riverside, MO 64150

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RENT COMPARABLES

UNIT STYLE # OF UNIT UNIT SQ FT RENT RENT PER FT2

Studio 10 458 $491 $1.07

1 BD / 1 BA 80 640 $550 $0.86

2 BD / 1 BA 120 850 $650 $0.76

2 BD/ 1.5 BA 20 900 $680 $0.76

El Chaparral4921 NW Gateway Ave Riverside, MO 64150

Year Built: 1970

# of Units: 230

Utilities Water, Sewer, Trash paid for by Owner

Unit Features Dishwasher, Garbage Disposal

Amenities Clubhouse, Pool, Playground

UNIT STYLE # OF UNIT UNIT SQ FT RENT RENT PER FT2

Studio 28 459 $461 $0.96

1 BD / 1 BA 78 678 $510 $0.75

2 BD / 1 BA 45 805 $608 $0.75

Year Built: 1970

# of Units: 151

Utilities Water, Sewer, Trash paid for by Owner

Unit Features Balcony*, Dishwasher, Disposal

Amenities Clubhouse, Tennis Court, Pool

Northcrest5135 NW Kalivas Dr. Riverside, MO 64150

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LOCATION REVIEW

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ABOUT RIVERSIDE, MOIt’s All UpstreamWith a healthy mix of new and existing homes, a highly rated school district, lots of open space, extensive walking/biking trails and no property, real estate or earnings taxes, it all adds up to life less ordinary.

Strong SchoolsRiverside is part of the Park Hill School District and home to Park Hill South High School. Park Hill received the Missouri Quality Award for dedication to exceptional performance, the first district to receive the prestigious award.

Healthy CitizensThanks to the City’s 75 percent subsidy on membership fees at three area community and fitness centers, more than 25 percent of residents are involved in the citywide Healthy Citizens initiative.

Connected NeighborhoodsRiverside continues to build a planned trail system that will soon loop around the entire community and link with Platte County, Kansas City and Parkville trails.

RELEVANT NUMBERS

County Platte

Square Miles 5.3

Population Approx. 3,000

Median Citizen Age 35.1

Average Age of Housing 32.1

Average Home Value $121,709

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Safety and SecurityThe Public Safety Department is comprised of a full-time police division and a full-time fire division, allowing faster response times and an even higher level of service to residents and merchants.

SustainabilityMore than 70 percent of single-family homes in Riverside participate in the City’s free curbside recycling program. Drop-off bins on the City Hall campus help more citizens recycle paper, cardboard, plastic, aluminum and glass. The Riverside composting program allows residents to drop off yard waste at no charge.

Satisfied StakeholdersAccording to the most recent ETC DirectionFinder Survey, 89 percent of Riverside residents are satisfied with their overall quality of life, which exceeds the national average of 77 percent.

FOR MORE INFORMATION, CONTACT SETH WILSON: 402-218-6973