OFFERING MEMORADUM Howard Boyar Associate Broker Cell: 917 414 1599 Office: 201 742 6168 Howard.Boyar@marcusmillichap.com 200-214 East NORTH Orange NJ WALNUT 07017 200 N Walnut St East Orange, NJ 07017 1
200-214 North Walnut TABLE OF CONTENTS SECTION Investment Overview 01 Property Overview Interior Pictures Local Map Aerial Photo Financial Analysis 02 Rent Roll Summary Pricing Detail Notes Market Overview 03 Market Overview Demographics
200-214 North Walnut INVESTMENT OVERVIEW
PROPERTY OVERVIEW Marcus and Millichap is proud to offer, a 3 building mutli-family home cluster consisting of single and two family semi attached residences with a total of eight units located in East Orange NJ. NO RENT CONTROLS. There are 4 semi attached triplex single family homes all having 4 bedrooms and 2 1/2 baths with garages and two 2 family duplex homes both having 5 bedrooms with 2 bath apartments and garages. The properties are in excellent condition and the current owner has made numerous interior upgrades over the last 2 years. 4 out of the 8 units are currently on month to month leases, giving any potential new buyer flexibility to raise rents immediately. 3 tenants are currently paying their own water and sewer and as the leases renew owner is transferring these expenses onto the tenants to lower expenses and increase income. The property is located just off Park Avenue and in a desirable residential neighborhood. PROPERTY OVERVIEW Month to Month Leases Desirable East Orange Location Numerous Upgrades No Rent Control Washer Dryer Hookups Full Basements Garages
5 Interior pictures 206 N Walnut
6 Interior pictures 206 N Walnut
7 Interior pictures 212 N Walnut
LOCAL MAP 8
AERIAL PHOTO 9
200-214 North Walnut FINANCIAL ANALYSIS
RENT ROLL SUMMARY 11
FINANCIAL ANALYSIS 12
Financial notes 13
200-214 North Walnut MARKET OVERVIEW 14
MARKET OVERVIEW NORTHERN NEW JERSEY Northern New Jersey consists of Bergen, Hudson, Passaic, Essex, Morris and Union counties. The region contains roughly 4 million residents in more than 200 municipalities. Bergen county is home to nearly 1 million people, while Essex County, which includes the city of Newark, has approximately 805,000 citizens. The region is bordered to the east by the Hudson River and New York City, to the south by Middlesex and Somerset counties, to the west by Warren and Sussex counties, and to the north by New York state. A large portion of the area is almost fully developed and densely populated. The region is a part of the New York metro and is linked to the city by the George Washington Bridge, the Lincoln Tunnel, the Holland Tunnel, several ferries and commuter rail tunnels. METRO HIGHLIGHTS DIVERSE INDUSTRIES Pharmaceuticals, healthcare and finance are a few of the segments that contribute to the metro s economic base LARGE LABOR POOL The region s diverse and highly skilled labor and access to workers in other nearby metros draw businesses. UNIQUE ECONOMY Northern New Jersey has its own economic drivers and is connected to New York City s robust economy. 15
DEMOGRAPHICS POPULATION 1 Miles 3 Miles 5 Miles 2022 Projection Total Population 53,493 393,104 778,543 2017 Estimate Total Population 53,846 393,942 775,937 2010 Census Total Population 52,352 383,138 753,168 2000 Census Total Population 55,273 404,060 767,327 Daytime Population 2017 Estimate 40,965 341,095 695,216 HOUSEHOLDS 1 Miles 3 Miles 5 Miles 2022 Projection Total Households 20,913 143,985 287,547 2017 Estimate Total Households 20,707 142,554 283,363 Average (Mean) Household Size 2.55 2.69 2.67 2010 Census Total Households 20,044 138,126 273,759 2000 Census Total Households 20,427 142,501 275,398 Growth 2015-2020 0.99% 1.00% 1.48% POPULATION PROFILE 1 Miles 3 Miles 5 Miles Population By Age 2017 Estimate Total Population 53,846 393,942 775,937 Under 20 27.79% 27.48% 26.06% 20 to 34 Years 22.46% 23.07% 22.07% 35 to 39 Years 6.88% 7.08% 7.29% 40 to 49 Years 13.24% 13.60% 14.14% 50 to 64 Years 17.89% 17.81% 18.66% Age 65+ 11.75% 10.97% 11.79% Median Age 34.83 34.62 36.29 Population 25+ by Education Level 2017 Estimate Population Age 25+ 34,946 254,423 518,201 Elementary (0-8) 5.52% 6.62% 6.75% Some High School (9-11) 10.84% 9.88% 8.82% High School Graduate (12) 34.86% 32.99% 31.27% Some College (13-15) 22.55% 19.67% 18.09% Associate Degree Only 8.13% 6.27% 5.73% Bachelors Degree Only 12.07% 15.03% 17.67% Graduate Degree 4.48% 7.63% 9.74% Population by Gender 2017 Estimate Total Population 53,846 393,942 775,937 Male Population 45.65% 47.17% 48.02% Female Population 54.35% 52.83% 51.98% HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles 2017 Estimate $200,000 or More 1.71% 3.94% 6.16% $150,000 - $199,000 2.52% 3.86% 5.26% $100,000 - $149,000 7.27% 10.05% 12.45% $75,000 - $99,999 10.30% 10.18% 10.88% $50,000 - $74,999 17.00% 17.08% 16.77% $35,000 - $49,999 12.99% 13.08% 12.19% $25,000 - $34,999 12.29% 10.89% 9.86% $15,000 - $24,999 12.96% 12.14% 10.86% Under $15,000 22.95% 18.77% 15.59% Average Household Income $53,518 $66,907 $80,666 Median Household Income $36,824 $43,776 $52,047 Per Capita Income $20,869 $24,606 $29,857 16
MARKET OVERVIEW 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 509 21st Street 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. 2018 Marcus & Millichap. All rights reserved. Howard Boyar Associate Broker Cell (917) 414 1599 Office: (201) 742 6168 Howard.Boyar@marcusmillichap.com