332 Brown St Offering Memorandum

OFFERING MEMORANDUM

5 UNITS IN NAPA WITH GREAT UPSIDE POTENTIAL

Type: Multifamily

Composition: 5 Units Building Size: 4,500 SF Lot Size: 9,372 SF Tax ID: 005-112-015-000

332 Brown Street, Napa, CA, 94559

332BROWNST.COM

OFFERED AT $1,449,000

SIMON RAYA - COMMERCIAL REAL ESTATE SPECIALIST 707.326.1117 | SIMON@SIMONRAYA.COM | SIMONRAYA.COM

RE/MAX MARKETPLACE IS PROUD TO PRESENT

5 UNITS IN NAPA WITH GREAT UPSIDE POTENTIAL 332 Brown Street, a five-unit property consists of two buildings located in Napa, CA. The property was built in 1964, and features five two-bedroom, one and one-half bathroom units. The building in the rear of the property features three units and the building near Brown street has two units.

There are two bedrooms and a bath upstairs. The living room, dining room, kitchen, and half bath are downstairs.

The property is located in a beautiful, tree-lined residential neighborhood and is close to local elementary, middle, and high schools, as well as downtown Napa. Nearby libraries, public transportation, and retailers such as Costco, Target, Home Depot, Safeway, and Whole Foods, add to the desirability of this location for tenants. Overall, this is an easy-to-maintain investment property with rental upside potential.

The owner has managed this property from 50 miles away for the last 21 years with the help of a handyman. And therefore has never paid a management fee; although, one is calculated in the APOD. New ownership has the option to continue to self-manage for a greater return than shown. Over the course of 21 years of ownership, the owner has had less than 10 vacancies, total. One tenant has been on the property for over 21 years! The property requires very little yard work and very little maintenance.

Three of the five water heaters are covered

by Sears warranty or maintenance agreements. Another is months old, and the last is a few years old. The owner loves low maintenance so the trim is clad in lifetime warranty (transferable) aluminum. Unlike wood, the stucco exterior is low maintenance as well. One of the tenants was also a handyman for small jobs.

The landlord added tile to the bottom floors of four of the five units, with relatively new carpet upstairs. The landlord also replaced all of the kitchen base cabinets. All five kitchens feature stainless steel sinks. Also, all stoves are upgraded to 30-inch. All five refrigerators have been replaced in the last five years or so. There are washing machine hookups in all units, and some tenants have dryers. Two of the five sliding doors are double pane units. All five of the front doors are modern replacements.

There is tremendous upside potential for this low maintenance property.

SIMON RAYA - COMMERCIAL REAL ESTATE SPECIALIST 707.326.1117 | SIMON@SIMONRAYA.COM | SIMONRAYA.COM

PHOTOGRAPHY

3 UNIT BUILDING, SHOT FROM PARKING AREA (UNITS 334-340)

3 UNIT BUILDING, SHOT FROM BROWN STREET ENTRANCE

2 UNIT BUILDING, SHOT FROM THE REAR (UNITS 332-334)

PARKING & STORAGE AREA BEHIND 3 UNIT BUILDING

BROWN STREET LOOKING TOWARDS DOWNTOWN NAPA

BROWN STREET LOOKING TOWARDS SAN FRANCISCO

SIMON RAYA - COMMERCIAL REAL ESTATE SPECIALIST 707.326.1117 | SIMON@SIMONRAYA.COM | SIMONRAYA.COM

PARCEL REPORT

SIMON RAYA - COMMERCIAL REAL ESTATE SPECIALIST 707.326.1117 | SIMON@SIMONRAYA.COM | SIMONRAYA.COM

LOCATION

Expo Center / Bottlerock

4-Minute Drive

First Street Napa

5-Minute Drive

Sonoma City

23-Minute Drive

Sonoma State University / Music Center

52-Minute Drive

Concord / East Bay

49-Minute Drive

Santa Rosa

1H 02M Drive

San Francisco

1H 22M Drive

SIMON RAYA - COMMERCIAL REAL ESTATE SPECIALIST 707.326.1117 | SIMON@SIMONRAYA.COM | SIMONRAYA.COM

COMMERCIAL PROPERTY LOAN Below are payments on a commercial property, offering payment amounts for P & I, Interest-Only and Balloon repayments; along with providing a monthly amortization schedule. The balloon payment is based on the loan amortization period.

Loan Amount

$1,014,300

Annual Interest Rate

4%

Amortization Term

30 Years

Balloon Payment Due

5 Years

P & I Payment

$4,842.42

Interest-Only Payment

$3,381.00

Balloon Payment

$917,409.17

SIMON RAYA - COMMERCIAL REAL ESTATE SPECIALIST 707.326.1117 | SIMON@SIMONRAYA.COM | SIMONRAYA.COM

COMMUNITY

ABOUT NAPA Napa is the largest city and the county seat of Napa County. It is the principal city of the Napa County Metropolitan Statistical Area, with a population of 80,011 as of the 2010 census. It is the second-largest city in California’s Wine Country, after Santa Rosa. Napa was incorporated as a city in 1872.

According to the United States Census Bureau, the city has a total area of 18.1 square miles (47 km2), of which 17.8 square miles (46 km2) is land and 0.3 square miles (0.78 km2) (1.69%) is water. Napa was the first location in California to be part of the North Coast American Viticultural Area. Renowned for its wine due to the Mediterranean climate, surprisingly only about 9% of Napa’s acres are planted to grapes.

The Napa River traverses the city on its journey to the San Pablo Bay. CA-29 runs through Napa, connecting to Vallejo and the East Bay Area to the south and the Napa Wine Country to the north.

CA-12 runs to the south of the city, connecting to Fairfield and Interstate 80 to the east and Sonoma and US-101 to the west.

POPULATION MEDIAN AGE MEDIAN HOUSEHOLD INCOME NUMBER OF EMPLOYEES 1 YEAR GROWTH

79,567 38.1 $71,087 40,694 2.19%

EMPLOYMENT BY OCCUPATION Management occupations (13%) Sales and related occupations (11%) Food preparation and serving related occupations (11%) Farming, fishing, and forestry occupations (9%) Production occupations (8%) Construction and extraction occupations (7%) Office and administrative support occupations (4%)

SIMON RAYA - COMMERCIAL REAL ESTATE SPECIALIST 707.326.1117 | SIMON@SIMONRAYA.COM | SIMONRAYA.COM

SIMON RAYA C O M M E R C I A L R E A L E S T A T E S P E C IA L IS T DRE#01924065

707.326.1117 SIMON@SIMONRAYA.COM SIMONRAYA.COM

Each office independently owned and operated. The information contained herein has been obtained through sources deemed reliable by RE/MAX Marketplace, but cannot be guaranteed for its accuracy. We recommend to the buyer that any information, which is of special interest, should be obtained through independent verification. ALL MEASUREMENTS ARE APPROXIMATE.