multi family investment package...• newer kitchens & baths throughout • new boiler 3 years...
TRANSCRIPT
OFFERING PRICE CAP RATE
$2,500,000 6.7%
VITAL DATA
4 Multi Family Homes
Asking Price $2,500,000.00 Occupancy 100%
OFFERING HIGHLIGHTS
12-14 WALNUT STREET • SUMMIT, NJ
Unit Rent
Unit 1 – 1 Bedroom $1300
Unit 2 – 2 Bedroom $1625
Unit 3 – 3 Bedroom $2300
Coin Operated Washer Dryers $300 / month
Total Rent: $5525 / month
Expenses
Water $125
Insurance $100
Taxes $1000
Total Expenses: $1225 / month
Property Highlights • New kitchens & baths throughout • New heating system • All hot water heaters in apartments • Roof and siding 7 years old • Stable tenants 5+ years • Coin operated washer/dryers
78-80 ORCHARD STREET• SUMMIT, NJ
Unit Rent
Unit 1 – 3 Bedroom $1950
Unit 2 – 2 Bedroom $1950
Total Rent: $3900 / month
Expenses
Water $125
Insurance $75
Taxes $600
Total Expenses: $800 / month
Property Highlights • Newer kitchens & baths throughout • New boiler 3 years old • Siding 3 years old • Stable tenants
10 JAMES STREET • NEW PROVIDENCE, NJ
Unit Rent
Unit 1 – 4 Bedroom 2 Bathroom $2750
Unit 2 – 2 Bedroom $1800
Total Rent: $4550 / month Expenses
Water $100
Insurance $75
Taxes $1100
Total Expenses: $1275 / month
Property Highlights • Newer kitchens & baths throughout • Newer Roof & Siding • Stable tenants 5+ years
27 DIVEN STREET • SPRINGFIELD, NJ
Unit Rent
Unit 1 – 3 Bedroom $2300
Unit 2 – 2 Bedroom $1800
Total Rent: $4100
Expenses
Water $60
Insurance $110
Taxes $700
Total Expenses: $870 / month
Property Highlights • Completely renovated 2015 • New addition added 2015 • Stable tenants 5+ years
FINANCIAL ANALYSIS
Gross Income Gross Yearly Residential Rent $216,900
Total Gross Rent $216,900 (fully rented)
Expenses
Real Estate Taxes $40,800
Water/Sewer $4,920
Insurance $4,320
Total Expenses $50,040
NOI $166,860