| Roofs were replaced in 2025, materially reducing near-term capital requirements |
| 11 units have been renovated, including 6 completed within the past 18 months, providing an immediate value-add runway through continued interior upgr |
| Majority of units feature stainless steel appliances |
| All units include washer and dryer connections, excluding the two studio apartments |
| Individually metered for electric, with water, sewer, and trash master metered and recovered through a $50 monthly utility reimbursement |
Patrick Cosgrove
Marcus & Millichap