16 unit portfolio - 3 corner properties · 2018-11-01 · page: 9 legacyre.com investment overview...
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16 UNIT PORTFOLIO - 3CORNER PROPERTIES16 Unit Multifamily Portfolio - 3 Properties, Salem, OR
M U LT I F A M I LY P R O P E R T Y | F O R S A L E
PRESENTED BY:
AJ NASH
Licensed Principal Broker in Oregon
925 Commercial St. SE, Suite 220Salem, OR 97302LEGACYRE.COM
1PROPERTY INFORMATION
925 Commercial St. SE, Suite 220Salem, OR 97302LEGACYRE.COM
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OFFERING SUMMARY
Sale Price: $1,400,000
Number Of Units: 16
Cap Rate: 5.76%
NOI: $80,623
Available SF: 0 SF
Lot Size: 0.43 Acres
Building Size: 9,385
Zoning: RM
Price / SF: $149.17
PROPERTY OVERVIEW
Two 4-Plex's and One 8-Plex make up this 16 Unit MultiFamily Sale. Each propertylocated within a stone's throw of each other and each occupying valuable cornerlots close in to Salem Central. Each property is 100% occupied and located nearSalem Hospital, McCulloch Stadium, Willamette University and the heart ofSalem's culture, food, and entertainment. Room mix is 6 Studios, Eight1-Bedrooms, and Two 2-Bedrooms. Rent Roll and Financials available uponrequest. Showing instructions are to contact Listing Broker and please do notdisturb tenants.
PROPERTY HIGHLIGHTS
• 3 Property Portfolio For Sale
• Mix of Unit Sizes
• All 100% Occupied
• Each Centrally Located in the Heart of Downtown Salem
• Great Location
• Pride of Ownership
• Many Upgrades to Apartments/Bathrooms
• Quiet Neighborhoods
• Near Salem Hospital
• Close to Willamette University & McCulloch Stadium
• 6 Studios
• Eight 1-Bedroom
• Two 2-Bedrooms
• $87,500 Per Unit
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EXECUTIVE SUMMARY16 Unit Portfolio - 3 Corner Properties 16 Unit Multifamily Portfolio - 3 Properties, Salem, OR
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SALE HIGHLIGHTS
• 3 Property Portfolio For Sale
• Mix of Unit Sizes
• All 100% Occupied
• Each Centrally Located in the Heart of DowntownSalem
• Great Location
• Pride of Ownership
• Many Upgrades to Apartments/Bathrooms
• Quiet Neighborhoods
• Near Salem Hospital
• Close to Willamette University & McCulloch Stadium
• 6 Studios
• Eight 1-Bedroom
• Two 2-Bedrooms
• $87,500 Per Unit
1 | P R O P E R T Y I N F O R M AT I O N
COMPLETE HIGHLIGHTS16 Unit Portfolio - 3 Corner Properties 16 Unit Multifamily Portfolio - 3 Properties, Salem, OR
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1 | P R O P E R T Y I N F O R M AT I O N
ADDITIONAL PHOTOS16 Unit Portfolio - 3 Corner Properties 16 Unit Multifamily Portfolio - 3 Properties, Salem, OR
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1 | P R O P E R T Y I N F O R M AT I O N
ADDITIONAL PHOTOS16 Unit Portfolio - 3 Corner Properties 16 Unit Multifamily Portfolio - 3 Properties, Salem, OR
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1 | P R O P E R T Y I N F O R M AT I O N
ADDITIONAL PHOTOS16 Unit Portfolio - 3 Corner Properties 16 Unit Multifamily Portfolio - 3 Properties, Salem, OR
2FINANCIAL ANALYSIS
925 Commercial St. SE, Suite 220Salem, OR 97302LEGACYRE.COM
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INVESTMENT OVERVIEW 16 UNIT PORTFOLIO MULTIFAMILY - 3 PROPERTIES
Price $1,400,000
Price per Unit $87,500
GRM 11.7
CAP Rate 5.8%
Cash-on-Cash Return (yr 1) 5.76 %
Total Return (yr 1) $80,623
Debt Coverage Ratio -
OPERATING DATA 16 UNIT PORTFOLIO MULTIFAMILY - 3 PROPERTIES
Gross Scheduled Income $120,180
Other Income $800
Total Scheduled Income $120,980
Vacancy Cost $3,605
Gross Income $117,374
Operating Expenses $36,750
Net Operating Income $80,623
Pre-Tax Cash Flow $80,623
2 | F I N A N C I A L A N A LY S I S
FINANCIAL SUMMARY16 Unit Portfolio - 3 Corner Properties 16 Unit Multifamily Portfolio - 3 Properties, Salem, OR
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INCOME SUMMARY 16 UNIT PORTFOLIO MULTIFAMILY - 3 PROPERTIES PER UNIT
Gross Income $117,374 $7,335
EXPENSE SUMMARY 16 UNIT PORTFOLIO MULTIFAMILY - 3 PROPERTIES PER UNIT
Insurance $3,573 $223Management $6,009 $375Landscape/Msc $6,400 $400Taxes $8,814 $550Electric $2,670 $166Gas $3,216 $201Water/Sewer $4,415 $275Garbage $1,652 $103
Gross Expenses $36,750 $2,296
Net Operating Income $80,623 $5,038
2 | F I N A N C I A L A N A LY S I S
INCOME & EXPENSES16 Unit Portfolio - 3 Corner Properties 16 Unit Multifamily Portfolio - 3 Properties, Salem, OR
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UNIT
NUMBER
UNIT
BED
UNIT
BATH
UNIT
SIZE (SF)
CURRENT
RENT
CURRENT
RENT (PER SF)
MARKET
RENT
MARKET
RENT/SF
206 14th St NE 1 1 361 $525 $1.45 $575 $1.59
208 14th St NE 1 1 733 $635 $0.87 $795 $1.08
210 L 14th St NE 1 1 555 $680 $1.23 $750 $1.35
210 U 14th St NE 1 1 769 $675 $0.88 $795 $1.03
1411 Court St NE 1 1 343 $580 $1.69 $625 $1.82
1413 L Court St NE 1 1 452 $585 $1.29 $695 $1.54
1413 U Court St NE 1 1 1,508 $750 $0.50 $850 $0.56
1415 Court St NE 2 1 555 $825 $1.49 $895 $1.61
502 19th St SE 1 1 390 $525 $1.35 $595 $1.53
504 19th St SE 1 1 450 $600 $1.33 $695 $1.54
506 19th St SE 1 1 430 $600 $1.40 $695 $1.62
1920 Bellevue St SE 2 1 725 $800 $1.10 $895 $1.23
190 #A 14th St SE 1 1 897 $650 $0.72 $825 $0.92
190 #B 14th St SE 1 1 483 $600 $1.24 $750 $1.55
190 #C 14th St SE 1 1 270 $485 $1.80 $550 $2.04
190 #D 14th St SE 1 1 464 $500 $1.08 $700 $1.51
Totals/Averages 9,385 $10,015 $1.07 $11,685 $1.41
2 | F I N A N C I A L A N A LY S I S
RENT ROLL16 Unit Portfolio - 3 Corner Properties 16 Unit Multifamily Portfolio - 3 Properties, Salem, OR
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UNIT TYPE COUNT % TOTAL
Studio 6 37.5
One Bedroom 8 50.0
Two Bedroom 2 12.5
Totals/Averages 16 100%
2 | F I N A N C I A L A N A LY S I S
UNIT MIX SUMMARY16 Unit Portfolio - 3 Corner Properties 16 Unit Multifamily Portfolio - 3 Properties, Salem, OR
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POPULATION 1 MILE 2 MILES 3 MILES
Total population 14,873 47,661 97,311
Median age 34.7 34.6 34.4
Median age (Male) 35.6 34.0 33.3
Median age (Female) 35.0 36.1 36.0
HOUSEHOLDS & INCOME 1 MILE 2 MILES 3 MILES
Total households 5,884 17,663 36,801
# of persons per HH 2.5 2.7 2.6
Average HH income $45,861 $47,072 $48,491
Average house value $163,902 $169,671 $183,272
* Demographic data derived from 2010 US Census
2 | F I N A N C I A L A N A LY S I S
DEMOGRAPHICS MAP & REPORT16 Unit Portfolio - 3 Corner Properties 16 Unit Multifamily Portfolio - 3 Properties, Salem, OR
2 | F I N A N C I A L A N A LY S I S
OAR DISCLOSURE16 Unit Portfolio - 3 Corner Properties 16 Unit Multifamily Portfolio - 3 Properties, Salem, OR
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2 | F I N A N C I A L A N A LY S I S
OAR DISCLOSURE16 Unit Portfolio - 3 Corner Properties 16 Unit Multifamily Portfolio - 3 Properties, Salem, OR
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