Casa Calvo, Wagner, Lamarque Streets, New Orleans, LA 70114

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Building Details:

Hano Housing Authority of New Orleans

Algiers, Louisiana

US Government Rental Payments

15 Units with 22 Fully Leased Apartments (with wait list)

Consisting of Single and Double units only.

1, 2 and 3 bedroom units

New Construction- all units 1-3 years 2008-2010

Excellent Cash Flow

Annual Rental Income $275,000 plus

CAP RATE 9% (After 40% Tax Rate)

Appraisal Income Approach $2,809,000

Appraisal Cost Approach $2,868,000

Loan Balance $1,943,000 Financing 6.5%, Balloon Payment

Loan to Value 71%

Investment opportunity includes but is not limited to all investment income (rental or other) and 15 Housing Units with a total of 22 Rental Apartment, real estate (Land), improvements and any FF&E, all attached appraisals and Louisiana LLC.

Existing Management Company may be available under a separate agreement.