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WWC PRESENTS…
Solterra
Solterra Property Details
Property Details Total Units 40
Year Built 2006
Purchase Price $4,560,000
Price Per Unit $114,000
Price Per Square Foot $137
• Solterra on Fiqh Avenue is well posiSoned in the Melrose District, which could be comparedto Vancouver’s Yaletown.
• Conveniently located in an area with a large professional employment base withapproximately 450,000 working professionals.
• Solterra was built in 2006 and we are buying at 50% of new construcSon costs in the area.
• Vendor financing allows us to purchase at a lower price and refinance upon compleSon of ourvalue-‐add program. This allows us to return investors capital sooner.
• MulSple exit opSons allow us to sell units in bulk or individually to home buyers, snowbirdsand investors.
• A new four-‐story mulS-‐family complex is set to break ground next door, and is selling at $290per square foot and higher.
Why Solterra?
Solterra is Under Contract For 50% of New Construction Costs
Source: Costar
0
50
100
150
200
250
300
350
Solterra New ConstrucSon
Price Per Square Foot
Price Per Square Foot
137
290
OVER 50% BELOW
Less than construction costs and 2006 prices
Source: Costar
0
50
100
150
200
250
Cost to Build Sale Price 2006 Buying Price
Price Per Square Foot
Price Per Square Foot 137
222
20% Less Than Construcaon Costs and 40% less than 2006 sales prices
170
Investment Breakdown
Increase Net Operating Income (NOI) From $223,653 to $359,279 in 55 Months
Normalizing Rents and Decreasing Vacancies $200 Rent Spread on Nearly IdenScal Units
2 Bedroom Market Rents -‐ $975 Current Rent Brackets $750-‐$800 – 6 Units $800 -‐ $850 – 17 Units $850 -‐ $900 – 5 Units $900 -‐ $950 – 1 Unit
8 Units (2 Bedroom) Currently Vacant -‐ $7,800/Month Increase building value over $1,500,000
Refinancing Return Majority of Investors Capital In 36 Months
1. Access to the best mulS-‐family deals in Phoenix
2. Economies of scale and buying power• Pass-‐through cost employees• Reduced management fees• Vendor negoSaSon
3. No investor liability • Mortgage guarantee signed by GP
4. Exclusive financing opSons
Benefits of Investing with Western Wealth Capital
Management Fees
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