Offering Memorandum SUMMER AVE PORTFOLIO. Summer Ave Newark, NJ

Offering Memorandum SUMMER AVE PORTFOLIO Summer Ave Newark, NJ 07104 1

N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E Non-Endorsements Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS. Disclaimer THIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS OF VALUE AND SHOULD NOT BE CONSIDERED AN APPRAISAL. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. Â 2017 Marcus & Millichap. All rights reserved. 687 SUMMER Newark, NJ ACT ID Y0280295 2

P R E S E N T E D B Y Chip Collins Licensed Real Estate Salesperson New Jersey Office Tel: (201) 742-6124 Fax: (201) 742-6110 charles.collins@marcusmillichap.com Licenses: NJ 0016571, NY 10401230649, PA RSR001965 3

687 SUMMER TABLE OF CONTENTS SECTION FINANCIAL ANALYSIS 01 Rent Roll Summary Rent Roll Detail Operating Statement Notes Pricing Detail Proposal Price 4

789 SUMMER INVESTMENT OVERVIEW 5

789 SUMMER PROPERTY OVERVIEW PROPERTY OVERVIEW Marcus & Millichap is pleased to present an opportunity to acquire a fully occupied, twelve unit portfolio in Newark's North Ward. The two, six unit buildings are located on summer street, in the Broadway neighborhood of Newark's North Ward. Both three story buildings have been totally renovated over the past 10-15 years and investors can expect a well-maintained, turn-key asset. Each building has six two bedroom apartments. Each apartment has it's own HVAC unit to provide heating and cooling. Tenants pay for their own separately metered gas & electric. Tenants are also responsible for their own heating and hot water costs. Owner pays for water and sewer. Bonus space/profitability: On the basement level of each building there are two additional 1 bedroom units. These units are heated by baseboard hotwater. The units share one boiler and hot water heater. Landlord pays for the costs of the heating and the hot water. Tenants pay for their own separately metered cooking gas & electric. Note: State green card and city recognize each building as a 6 unit property. PROPERTY OVERVIEW 12 unit portfolio (two buildings) in Newark's North Ward Unit mix (in each building) consists of six 2 bedroom apartments and two ground level 1 bedroom units All two bedrooms are heated/cooled by individual HVAC units Tenants pay for heat/hot water and individually metered gas & electric Bonus units (basement) share a boiler and hot water heater which is the landlord's expense Each property is recognized by city and state as a six unit building. 6

789 SUMMER Newark, NJ

789 SUMMER PROPERTY PHOTOS 8

789 SUMMER PROPERTY PHOTOS 9

789 SUMMER PROPERTY PHOTOS 10

789 SUMMER PROPERTY PHOTOS 11

789 SUMMER REGIONAL MAP 12

789 SUMMER LOCAL MAP 13

789 SUMMER AERIAL PHOTO 14

687 SUMMER AVE Newark, NJ

687 SUMMER FINANCIAL ANALYSIS 16

687 SUMMER RENT ROLL SUMMARY FINANCIAL ANALYSIS 17

687 SUMMER RENT ROLL DETAIL FINANCIAL ANALYSIS 18

687 SUMMER OPERATING STATEMENT FINANCIAL ANALYSIS 19

687 SUMMER NOTES FINANCIAL ANALYSIS 20

687 SUMMER PRICING DETAIL FINANCIAL ANALYSIS 21