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SENIOR HOUSING ANALYSIS <br /> TABLE SH-2 <br /> SENIOR HOUSING <br /> CITY OF ELK RIVER <br /> October 2015 <br /> Unit Mix/Sizes/Rents <br /> Year No.of No. Monthly Rent/ <br /> Project Name/City Built Units Vacant No. Type Sizes Sale Price Comments <br /> Adult/Few-Services Ownership <br /> Pullman Place 2005 65 0 14- 1BR 798 -920 $672 -$923 55+. Guardian Angels. In 2012,units were selling at 35%to 55%less than <br /> 17155 Quincey St $50,051 -$69,188 scheduled share price.Now units are selling for full share prices. Residents <br /> (Cooperative) 0 9 1BR+D 1,058 $1,066 typically sell due to health issues and need for higher level of care,with some <br /> $79,558 relocating near family. In 2012,units took longer to sell and could be up to 2+ <br /> O 39- 2BR 1,110 -1,272 $1,110-$1,276 years market time for some units. Now units sell quikly and there is a waiting <br /> 1 On Market $83,474-$95,660 list. Avg.Age=82,16 couples. <br /> O 1-2BR+D 1,440 $1,450 <br /> $108,295 <br /> O 2-3BR+D 1,440 $1,450 <br /> $108,295 <br /> Elk Run Village 1997/ 59 0 52 -2BR 1,400 $145,900-$179,900 For sale one-level age restricted townhome community for active adults. <br /> 19200 Freeport Court NW 1999 Recent Sales Price <br /> 2014 and 2015 <br /> Ownership Subtotal 124 0 0% Vacancy Rate <br /> Adult/Few-Services Rental <br /> Market Rate <br /> Elk Terrace 1993 23 0 20- 1BR 688 $585 -$698 62+. Metroplains. All utilities covered except for electric,cable/phone; <br /> 385 Holt Avenue 0 3-2BR 734 $635 -$734 <br /> Evans Park 1985 36 1 24- 1BR 638 $896 55+. Guardian Angels. Grocery store and gift shop located within property. <br /> 330 Evans Avenue 1 12 - 2BR 826 $1,109 <br /> RiverviewApts. 1973 24 1 20- EFF 320 $517 62+. Guardian Angels. Electric and heat are included in rent.7 units <br /> 925 Angel Avenue 0 4- 1BR 380 $618 occuupied with Section 8 voucher. No longer accept Section 8. When those <br /> (Market Rate&Subsidized) tenants move out,no new Section 8 allowed.Units come with assigned <br /> Market Rate Rental Subtotal 83 3 4% Vacancy Rate <br /> Market Rate Total 207 3 1% Vacancy Rate I <br /> Continued <br /> MAXFIELD RESEARCH INC. 53 <br />