ABIMultifamily.com/portfolio/moon-mountain-apartmentsFor more information please visit:MOON MOUNTAIN APARTMENTSMOON MOUNTAIN APARTMENTS

1500 WEST THUNDERBIRD ROAD, PHOENIX, AZ 850231500 WEST THUNDERBIRD ROAD, PHOENIX, AZ 85023

Offering Price: $8,750,000 34 Unit Multifamily Community in Phoenix, AZ

ABIMultifamily.com Phoenix Headquarters: 5227 North 7th Street, Phoenix, AZ 85014 Tel: 602.714.1400

PROPERTY OVERVIEW

$8,750,000

$257,353

5.01%

34

Price

Per Unit

Pro Forma CAP

# of Units

Avg SF/Unit 943 SF

Built 2019

34 Apartment Units Constructed in 2019

All Two-Bedroom / Two-Bathroom Floorplans

Modern Interiors with Shaker Cabinets & Granite Countertops

Full-Size Interior Washer / Dryer, Walk-In Closets

Private Patios, Mountainside Views

Covered Parking & Resort-Style Swimming Pool

On-Site Management & Leasing Office

MARKET PRO FORMA

Unit Type Count % Total Size (SF) Rent Rent/SF

2 Bed / 2 Bath 34 100.0 943 $1,400 $1.48

Totals / Averages 34 100% 943 $1,400 $1.48

INCOME & EXPENSESIncome Total Per Unit

Gross Scheduled Income $571,200 $16,800

Less: Vacancy (5.0%) ($28,560) ($840)

Net Rental Revenue $542,640 $15,960

Add: Other Income / RUBS $24,650 $725

Effective Gross Income $567,290 $16,685

Expenses

Payroll $13,600 $400

Administration $4,250 $125

Management Fees (3.0%) $17,019 $501

Contract Services $5,950 $175

Repairs & Maintenance $3,400 $100

Turnover $5,950 $175

Utilities $27,200 $800

Insurance $6,800 $200

Real Estate Taxes $40,000 $1,176

Replacement Reserves $5,100 $150

Total Operating Expenses $129,269 $3,802

Net Operating Income $438,021 $12,883

All information provided in reference to the property has been collected from sources deemed reliable. However, no representations or warranties are made as to the accuracy ofsaid information. In addition, no warranty or representation is extended to errors, omissions, change of price or other conditions. Any projections, estimates, opinions, financial orother assumptions are provided for example purposes and do not represent current or future performance of the property. Please consult with your legal, financial and taxprofessionals to make any determinations regarding whether the property is suitable for your needs and purposes.

OFFERING PRICE: $8,750,000

TOTAL UNITS: 34

YEAR BUILT: 2019

MOON MOUNTAIN APARTMENTS1500 WEST THUNDERBIRD ROAD, PHOENIX, AZ

PRIMARY LISTING ROYCE MUNROECONTACT: Vice President

602.635.7431royce.munroe@abimultifamily.com

Phoenix Sacramento San Diego TucsonABI MULTIFAMILY OFFICES:

MOON MOUNTAIN APARTMENTS

For more information please visit: ABIMultifamily.com/portfolio/moon-mountain-apartments

Moon Mountain Apartments is a 34-unit property that wascompleted in December of 2019. The property is located inNorth Phoenix at the base of the picturesque Moon Mountain,which is covered with stately saguaro cactus providing a tranquilbackground for contemporary, modern living. The units arespacious 943 SF two-bedroom / two-bathroom floorplans withmodern interiors. The well-appointed kitchens include shakercabinets, granite countertops, modern fixtures and finishes, andpantry space. Each unit is also outfitted with a full-size washerand dryer for convenience. Each apartment home also enjoyswalk-in closets and private balconies with mountainside views, aswell as two covered parking spaces. Common area amenitiesinclude a resort-inspired swimming pool and dog park andfeatures office space for convenient on-site management andleasing. Moon Mountain Apartments was well-received by themarket and leased more than 1/3 of the units in the first weeksafter opening.