1109 N SCOTT AVE Belton MO 64012-1440

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Belton Heights has not completed a systematic approach to upgrades and has focused on high-quality unit turnover. A systematic interior renovation program has not been implemented at the property. With some light capital invested into the unit interiors, $5100 rent premiums can be achieved.

ADD VALUE WITH LIGHT COSMETIC INTERIOR UPGRADES

The 45 units at Belton Heights are exceptionally well-maintained and have greatly benefitted from generous capital expenditures in recent years. With a combination of the below-listed upgrades, an additional $100 in rent upside can be achieved.:

• Resurface Countertops

• New Modern Paint Scheme

• New Fixtures

• Painting Kitchen Cabinets

• Luxury Carpet in Bedrooms

100% OCCUPIED WITH EXTENSIVE WAITING LIST

Belton Heights has been extremely well-maintained by ownership and consistently achieves and high occupancy marks. Additionally, the property maintains a waiting list which is a clear indicator of pent-up demand for the asset and location. The current economic condition of the operations along with the upside in the rents will allow for strong rent growth into the future.

$1,900,000 OF CITY INVESTMENT ON FRONTING SCOTT STREET

Belton City Public Works has announced that the city of Belton has been awarded a $1.92 million grant to complete rehabilitation of the North Scott Corridor. The asset has significant frontage along this major north/south Belton transportation arterial. The project involves the entire corridor; a two-mile stretch, from just north of Route 58 to just

south of 155th Street, with funds used to pave streets, replace curbs and rehabilitate sidewalks. The corridor will be reconfigured from four lanes to two with a continuous left-turn lane in the north half of the project, which also will provide for on-street bicycle lanes. Money from this grant will be available in 2023 with the designing and planning completed in the interim with the work targeted for completion in 2024.

BRAND NEW CONSTRUCTION LESS THAN 1.0 MILES AWAY

NorthPoint, a premier Kansas City-area developer, has broken ground on The Encore, a 344-unit luxury Class A project. This highly amenitized project is located less than 1 mile from Belton Heights and is the first new construction community in Belton in the last 20 years. Studio, one- and two-bedroom units within the six-building, four-story project are expected to range from $850 to $1,600. The new construction will achieve rents that not yet been achieved in the market.

SIGNIFICANT RENT DELTA IN RELATION TO THE NEW CONSTRUCTION IN THE SUBMARKET

Rents at Belton Heights trail the top-of-market rents achieved in the submarket by more than $200/unit/month. There is strong support for the lightly upgraded rents when compared to other product in the submarket.

NEAR MAJOR DEMAND DRIVERS | 1.8MM SF FLEX SPACE ACROSS THE INTERSTATE

Currently, Southview Commerce Center has three, fully leased flex industrial buildings located east of I-49 between 155th Street and 162nd Street. This 148-acre industrial park totals 1.8 million square feet, and is 100% leased. Most recently Chewy, Inc., a pet supply company, cut the ribbon on a new 800,000 sq. ft. eCommerce fulfillment center within Southview Commerce Center and created more than 1,600 new jobs in the region.

$3OMM EXPANSION TO EXISTING FLEX CENTER | EXPLODING DEMAND DRIVERS

NorthPoint Development is moving forward with a $30 million expansion of Southview Commerce Center. Currently, Southview Commerce Center has three, fully leased flex industrial buildings located east of I-49 between 155th Street and 162nd Street. The expansion will allow access to the business park from 155th Street.

Building 4 will be constructed on the long-vacant, abandoned Century Concrete plant and an adjoining 20-acre parcel. Located north of the existing business park, the 501,000-square-foot building will be identical in design to the Southview Commerce Center buildings.

LOCATED IN A SOLID KANSAS CITY MSA SCHOOL DISTRICT

Belton Heights offers well-appointed one, two, three-bedroom floorplans which bodes well for families with children. Additionally, Belton Heights is located within the Belton School District #124 Public School district and is rated B- by Niche.

OFFERED FREE AND CLEAR OF ANY EXISTING DEBT

Belton Heights is being offered free and clear of existing debt, providing the opportunity for a new investor to take advantage of the highly competitive financing markets, low-interest rates, long term debt with interest-only options with maximum leverage, supporting exceptional returns on investment.

• Great in-place Cash-Flow

• 100% Occupied with extensive waitlist!

• Upside of $100/unit/month with light interior upgrades

• Near major demand drivers, including $30 million expansion to existing industrial commerce center

• Fronting Scott Street, which has been awarded nearly $2 million of city investment for infrastructure

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