|
1. Apartments (23 units) - Phoenix, AZ
| ITEM |
BEFORE |
AFTER |
IMPROVEMENT |
% |
| Buy
/ Sales Price |
$862,500 |
$1,350,000 |
$487,500 |
56.5% |
| Equity |
$325,000 |
$600,000 |
$275,000 |
84.6% |
| Monthly
Income |
$5,519 |
$11,650 |
$6,131 |
111.1% |
| Comments:
Remodeled various apartments, upgraded property exterior
and raised apartment rents.
Purchase date was 10/04; property sold in 4/06. |
2. Retail Shopping Center (approximately 65,000 square
feet) - Mesa, AZ
| ITEM |
BEFORE |
AFTER |
IMPROVEMENT |
% |
| Market
Value |
$2,550,000 |
$3,436,357 |
$886,357 |
34.8% |
| Equity |
$800,000 |
$1,736,357 |
$936,357 |
117.0% |
| Monthly
Income |
$23,272 |
$29,364 |
$6,092 |
26.2% |
| Comments:
Owner facing a 10,000 square foot vacancy as of 7/31/06.
Peak Commercial Property Services found a new tenant to fill
the vacancy help the owner achieve 100% occupancy and
increase the property value over $880,000. |
3. Apartments (124 units) - Phoenix, AZ
| ITEM |
BEFORE |
AFTER |
IMPROVEMENT |
% |
| Buy
/ Market Value |
$5,800,000 |
$8,000,000 |
$2,200,000 |
37.9% |
| Equity |
$2,300,000 |
$4,500,000 |
$2,200,000 |
95.7% |
| Monthly
Income |
$65,000 |
$74,000 |
$9,000 |
13.8% |
| Comments:
Occupancy has been increased, rents have been raised
to increase income
approximately $9,000 per month, creating an additional
$1,661,000 in owner equity (based on a 6.5% CAP rate)
over an 18-month period. |
4. Retail Shopping Center (approximately
114,000 square feet) – Gilbert, Arizona
| ITEM |
BEFORE
|
AFTER
|
PROJECTED
|
IMPROVEMENT
|
| Vacant
Units |
9
|
3
|
0
|
9/NA
|
| Occupied
SQ Feet |
71,061 sf
|
88,824 sf
|
114,140 sf
|
43,079sf/60.6%
|
| Occupancy
Rate |
62.3%
|
77.8%
|
100%
|
37.7%/160.5%
|
| Monthly
Income |
$141,725
|
$167, 906
|
$196,862
|
$55,137/38.9%
|
| Market
Value |
$16.83 million
|
$21.67 million
|
$27.01 million
|
$10.18 million
|
| Comments:
Owner facing 9 vacancies and an underperforming
asset. Peak
Investor Group leased up 6 spaces/17,763 sq ft over the
past few months, increased the monthly income over $26,000,
and has increased the property value over $4.8 million
(based on a 6.5% CAP rate). |
5. Apartments (27 units) - Mesa, AZ
| ITEM |
BEFORE |
AFTER |
IMPROVEMENT |
% |
| Buy
/ Market Value |
$850,000 |
$1,300,000 |
$450,000 |
52.9% |
| Equity |
$210,000 |
$510,000 |
$300,000 |
142.9% |
| Monthly
Income |
$2,675 |
$12,850 |
$10,175 |
380.4% |
| Occupancy
Rate |
22.2% |
92.6% |
70.4% |
317.1% |
| Comments:
Prior management company had only rented 1 unit
in 6 months. Over the past 9 months a majority of 20 units
have been remodeled, rents have been raised, and occupancy
was raised to 92.6%. |
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