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MULTIRESIDENTIALINVESTMENTOPPORTUNITY

28UNITSAT139&141PRESTONSTREET

Fantastic 28 multi-residential investment opportunity with great potential toincrease rents. Little Italy is a rich and vibrant community undergoing amajor transformation. Two buildings directly across the street from thenewly redeveloped city- owned indoor public pool / gym / communitycentre. Preston Street is one of the city’s major cultural districts. CMHC insuredassumable mortgage at 5.224%, 9 years remaining.

Little Italy is currently undergoing a major re-development by the cityof Ottawa of its streetscape. Refer to Preston Street BusinessImprovement Association (B IA).Neighbourhood: WestCentre Town

UnitMix

6– Bachelor apartments16-1 Bedroom apartments6–2 Bedroom apartments

BuildingFeatures: Thesebuildings include frontwindow balconies, onsite laundry andparking.

Appliances: Fridge & Stove provided for tenants, coin operated washers and dryers onsite in each building.

Services: Hydro, gas& municipal water. Tenants payindividually meters hydrocosts.

Parking: There are 6 parking spots located behind the building.

AnnualNetRentalIncome(ProjectedbasedonFebruary2009RentRoll):$203,074.08

Operating costs:

Realty Taxes: $23,400.00

Utilities: $29,000.00

Insurance: $2,200.00

Site Superintendant: $7,800.00

Total OperatingCosts: $62,400.00NetOperating Income: $140,674.08

ListingPrice:$2,150,000.00

Brokers Protected

CONTACT:

JONATHAN KARDASH, M.B.A.: 613-729-2086 ext. 112MICHAEL CHARTO, B.COMM: 61 3-729-2086 ext. 114

Information furnished regarding this property is from sources deemed reliable but no warranty orrepresentation is made as to accuracy therefore Marklyn Management, a division of 1023733 Ontario Inc.,recommends that all interested parties conduct their own investigations and seek the necessary legal,accounting, and tax advice. Any offer made herein is subject to prior sale; change in price or terms, orwithdrawal, all without notice.

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MULTIRESIDENTIALINVESTMENTOPPORTUNITY

28UNITSAT139&141PRESTONSTREET

139 & 141 PRESTON STREET COMMON INFORMATIONBoth buildings have a structure that consists of stoneworkfoundation walls, wood floor structures, wood stud walls clad withbrick clay masonry and a low sloped wood roof structure with awood plank roof deck.Thebuildings have been completely fire retrofitted with proper fireseparation, fire doors, emergency lighting and fire pull stations.Windows were changed in 1998. Skylights were installed in 2005in both buildings top floor hallways.Both gas fired boilers were installed in 1998 and have beeninspected annually since their installation.The buildings have three levels of above grade apartments withapartment units and storage in the basements. Both buildings

have steel fire escape structures at the rear (east) side and steelbalcony structures on the west side.In 2007, a Phase 1 Environmental Site Assessment wasconducted; No significant environmental concerns were identifiedduring the site visit with the current conditions of the subject site orsurrounding properties.

139 PRESTON STREETThe roof is a low sloped wood roof structure with a wood plankroof deck. The roof system is a modified bituminous membrane

installed in 2005. It is a built-up roof membrane installed in 2005.

141 PRESTON STREETThe roof system is a build up roof membrane, reportedly installedin 1996. The membrane installation is in good condition and theroof slopes well to a central drain. The attic insulation has beenretrofitted in 1996. The level of insulation has been significantlyupgraded to R40 fiberglass batt insulation.* All units are individually metered for hydro except the 2basement units at 141 Preston.

CONTACT:

JONATHAN KARDASH, M.B.A.: 613-729-2086 ext. 112MICHAEL CHARTO, B.COMM: 61 3-729-2086 ext. 114

Information furnished regarding this property is from sources deemed reliable but no warranty orrepresentation is made as to accuracy therefore Marklyn Management, a division of 1023733 Ontario Inc.,recommends that all interested parties conduct their own investigations and seek the necessary legal,accounting, and tax advice. Any offer made herein is subject to prior sale; change in price or terms, orwithdrawal, all without notice.

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139 141 PRESTON ST.RENT ROLL

AS OF APRIL 1ST, 2009

Unit No. Monthly Rent Tenant Pays Unit Type Start Date Ending Date Parking Lease

139-1 $650.00 Hydro 1 Bedroom May 1st, 2008 Apr 30th, 2009 N/A139-2 $350.00 Hydro 1 Bedroom Nov 1st, 2008 Oct 31st, 2009 N/A139-3 $543.81 Hydro 1 Bedroom June 1st, 2006 May 31st, 2007 1 Space Included139-4 $659.10 Hydro 1 Bedroom Nov 1st, 2007 Oct 31st, 2008 1 Space Included139-5 $600.00 Hydro 1 Bedroom June 1st, 2008 May 31st, 2009 N/A139-6 $350.00 Hydro 1 Bedroom Jan 1st, 2008 Dec 31st, 2009 N/A139-7 $650.00 Hydro 1 Bedroom Jan 1st, 2007 Dec 31st, 2008 N/A V139-8 $488.61 Hydro 1 Bedroom June 1st, 2006 May 31st, 2007 N/A139-9 $550.00 Hydro 1 Bedroom Mar 1st, 2009 Feb 28th, 2010 N/A139-10 $650.00 Hydro 1 Bedroom Sep 1st, 2008 Aug 31st, 2009 N/A139-11 $600.00 Hydro 1 Bedroom Mar 1st, 2009 Feb 28th, 2010 N/A139-12 $650.00 Hydro 1 Bedroom Aug 1st, 2008 Jul 31st, 2009 N/A139-B1 $500.00 Public Meter 1 Bedroom Feb 1st, 2008 Jan 31st, 2009 1st Space Included139-B2 $557.70 Hydro (Acct #14) 1 Bedroom Sep 1st, 2007 Aug 31st, 2008 N/A

141-1 $593.19 Hydro 1 Bedroom Nov 1st, 2006 Oct 31st, 2007 1st Space Incuded141-2 $690.43 Hydro 2 Bedroom Oct 1st, 2005 Sep 30th, 2007 N/A141-3 $550.00 Hydro Bachelor Dec 1st, 2008 Nov 30th, 2009 N/A141-4 $728.25 Hydro 2 Bedroom Oct 1st, 2005 May 31st, 2007 N/A141-5 $466.83 N/A Bachelor Jan 1st, 2006 Dec 31st, 2007 1st Space Incuded141-6 $760.50 Hydro 2 Bedroom Nov 1st, 2006 Oct 31st, 2007 N/A141-7 $550.00 Hydro Bachelor June 1st, 2008 May 31st, 2009 N/A141-8 $700.00 Hydro 2 Bedroom Apr 1st, 2008 Mar 31st 2009 N/A141-9 $608.40 Hydro Bachelor Oct 1st, 2006 Sep 30th, 2007 1st Space $50.00141-10 $760.50 Hydro 2 Bedroom July 1st, 2007 June 30th, 2008 N/A141-11 $622.20 Hydro Bachelor Aug 1st, 2006 Aug 31st, 2007 1st Space $50.00141-12 $750.00 Hydro 2 Bedroom Aug 1st, 2008 Jul 31st, 2009 N/A141-B1 $650.00 Public Meter 1 Bedroom June 1st, 2008 May 31st, 2009 N/A V141-B2 $600.00 Public Meter Bachelor Oct 1st, 2008 Sept 31st, 2009 N/A

$16,829.52

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