42 UNIT MULTIFAMILY PACKAGE FOR SALE

Transcription

1 42 UNIT MULTIFAMILY PACKAGE FOR SALE ORANGE PLACE REVENUE Gross Monthly Income (Actual) $45,735 Gross Annual Income (Actual) $548,820 Vacancy 3% $(16,465) Gross Annual Income after Vacancy $532,355 EXPENSES Real Estate Taxes (Actual 2015) $78,487 Sewage + Solid Waste (Actual 2015) $40,808 Insurance (Actual 2015) $10,403 Water (Actual 2013) $26,310 PSE&G $42,627 Common Area Utilities $6,000 Snow Removal $3,000 Maintenance Reserve (3%) $15,971 Management Fees (3%) $15,971 Total: $239,576 Gross Annual Income: $532,355 Less Expenses: $239,576 Net Operating Income: $292,779 ASKING PRICE: $4,400,000 verified.vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment W W W. M A S S E Y K N A K A L. C O M

2 MULTIFAMILY BUILDING FOR SALE Block/Lot: 318/5 Lot Dimensions: ' x 51.22' (Approx.) Zoning: R-4 Building Size (SF): 15,024 (Approx.) Residential Units: 23 Stories: 3 Percent Occupied: 100% Real Estate Taxes: $42,535 Current Gross Income: $297,984 Current Net Income: $158,032 Capitalization Rate: 6.20% PROPERTY DESCRIPTION Cushman and Wakefield is pleased to present Orange Place in Plainfield, New Jersey, a 23 unit multi-family apartment building. The three story walk-up building is fully occupied and has a solid history of tenancy. The building features 10 two-bedroom apartments, 10 onebedroom apartments and 3 three-bedroom apartments. The subject property is located in the northern section of Plainfield, New Jersey. The Plainfield Train Station, which has direct service to New York City, is walking distance from the subject property. Additionally, downtown Plainfield is a short walk away. The area has seen a significant number of new developments in the last few years, with multiple projects currently underway. The property is also in close proximity to Route 22 and, Interstate 78. ASKING PRICE: $2,550,000 verified.vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment W W W. M A S S E Y K N A K A L. C O M

3 FINANCIAL INFORMATION Unit Type Leases Monthly Rent Annual Rent 1 2 BR Occupied $1, $13, BR Occupied $1, $13, BR Occupied $1, $15, BR Occupied $1, $12, BR Occupied $ $10, BR Occupied $ $11, BR Occupied $1, $12, BR Occupied $1, $17, BR Occupied $ $10, BR Occupied $ $11, BR Occupied $1, $15, BR Occupied $1, $12, BR Occupied $1, $13, BR Occupied $ $11, BR Occupied $1, $13, BR Occupied $1, $18, BR Occupied $ $10, BR Occupied $ $11, BR Occupied $1, $12, BR Occupied $1, $18, BR Occupied $ $10, BR Occupied $ $9, BR Occupied $1, $12, TOTALS: $24, $297, ASKING PRICE: $2,550,000

4 REVENUE Gross Monthly Income (Actual) $24,832 Gross Annual Income (Actual) $297,984 Vacancy 3% $(8,940) Gross Annual Income after Vacancy $289,044 EXPENSES Real Estate Taxes (Actual 2015) $42,535 Sewage + Solid Waste (Actual 2014) $21,640 PSE&G (Actual 2014) $22,391 Insurance (Actual 2014) $5,202 Water (Actual 2014) $13,041 Common Area Utilities $3,000 Snow Removal $1,500 Maintenance Reserve (3%) $13,032 Management Fees (3%) $8,671 Total: $131,013 Gross Annual Income: $289,044 Less Expenses: $131,013 Net Operating Income: $158,032 ASKING PRICE: $2,550,000

5 MULTIFAMILY BUILDING FOR SALE Block/Lot: 318/4 Lot Dimensions: ' x 64.80' (Approx.) Zoning: R-4 Building Size (SF): (Approx.) Residential Units: 19 Stories: 3 Percent Occupied: 95% Real Estate Taxes: $35,952 Current Gross Income: $243,439 Current Net Income: $130,281 Capitalization Rate: 6.20% PROPERTY DESCRIPTION Cushman and Wakefield is pleased to present Orange Place Plainfield, New Jersey, a 19 unit multi-family apartment building. The three story walk-up building has a solid history of tenancy. The building features 6 two-bedroom apartments, 9 one-bedroom apartments and 4 three-bedroom apartments. The subject property is located in the northern section of Plainfield, New Jersey. The Plainfield Train Station, which has direct service to New York City, is walking distance from the subject property. Additionally, downtown Plainfield is a short walk away. The area has seen a significant number of new developments in the last few years, with multiple projects currently underway. The property is also in close proximity to Route 22 and, Interstate 78. ASKING PRICE: $2,100,000 verified.vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment W W W. M A S S E Y K N A K A L. C O M

6 FINANCIAL INFORMATION Unit Type Leases Monthly Rent Annual Rent 1 2 BR Occupied $1, $16, BR Occupied $1, $18, BR Vacant $ $11, BR Occupied $1, $13, BR Occupied $1, $12, BR Occupied $ $10, BR Occupied $ $11, BR Occupied $1, $16, BR Occupied $1, $12, BR Occupied $1, $14, BR Occupied $1, $17, BR Occupied $1, $12, BR Occupied $1, $12, BR Occupied $1, $14, BR Occupied $ $11, BR Occupied $ $11, BR Occupied $ $7, BR Occupied $1, $12, BR Occupied $1, $12, TOTALS: $20, $250, ASKING PRICE: $2,100,000

7 REVENUE Gross Monthly Income (Actual) $20,903 Gross Annual Income (Actual) $250,836 Vacancy 3% $(7,525) Gross Annual Income after Vacancy $243,311 EXPENSES Real Estate Taxes (Actual 2015) $35,952 Sewage + Solid Waste (Actual 2015) $19,168 PSE&G (Actual 2015) $5,201 Insurance (Actual 2015) $13,269 Water (Actual 2015) $20,236 Common Area Utilities $3,000 Snow Removal $3,000 Maintenance Reserve (3%) $13,032 Management Fees (3%) $7,299 Total: $120,157 Gross Annual Income: $243,311 Less Expenses: $120,157 Net Operating Income: $123,154 ASKING PRICE: $2,100,000