For more information contact: Managing Director ejordan@northeastpcg.com Bradley Balletto Regional Manager 203-307-1574 bballetto@northeastpcg.com Jeff Wright Licensed Associate (914) 440-0900 jwright@northeastpcg.com 29 Unit Apartment Building Located in Waterbury, CT Studio, One, Two, & Three Bedroom Floor Plans Additional Income from Garages Value- Add Opportunity Phone: Fax: (617) 830-0496 300 Washington Street, Suite 303 Newton, MA 02458 www.northeastpcg.com
Table of Contents Real Estate Investment Details... 3 Property Description... 4 Maps and Aerials... 5 Executive Summary... 6 Unit Mix Report... 7 Income & Expense Analysis... 8 Biography... 10
Real Estate Investment Details Analysis Analysis Date August 2017 Property Property Property Address Year Built 1989 Valley View Apartments Purchase Information Property Type MultiFamily Purchase Price $1,995,000 Units 29 Total Rentable Sq. Ft. 20,450 Financial Information Down Payment $598,500 Loans Type Debt Term Amortization Rate Payment LO Costs Fixed $1,396,500 30 years 30 years 4.75% $7,285 Income & Expenses Gross Operating Income $297,666 Monthly GOI $24,806 Total Annual Expenses ($113,989) Monthly Expenses ($9,499) Contact Information ejordan@northeastpcg.com Bradley Balletto 203-307-1574 bballetto@northeastpcg.com Jeff Wright (914) 440-0900 jwright@northeastpcg.com The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projections and analysis. The information provided is not intended to replace or serve as substitute for any legal, accounting, investment, real estate, tax or other professional advice, consultation or service. The user of this software should consult with a professional in the respective legal, accounting, tax or other professional area before making any decisions. page 3 of 10
Property Description Northeast Private Client Group is pleased to present Valley View Apartments, a 29 unit apartment property located in Waterbury, CT. Valley View Apartments consists of 1 studio, 23 one bedroom, 4 two bedroom, and 1 three bedroom apartments built in 1989, with 11 income generating garages set on 2.32 acres. Tenants are responsible for their own heat, hot water and electric utilities. Valley View Apartments has been well maintained and shows no signs of significant deferred maintenance. page 4 of 10
Maps and Aerials page 5 of 10
Executive Summary ACQUISITION COSTS Purchase Price, Points and Closing Costs $1,995,000 Investment - Cash $598,500 First Loan $1,396,500 INVESTMENT INFORMATION Purchase Price $1,995,000 Price per Unit $68,793 Price per Sq. Ft. $97.56 Income per Unit $10,778 Expenses per Unit ($3,931) INCOME, EXPENSES & CASH FLOW Gross Scheduled Income $312,570 Total Vacancy and Credits ($14,904) Operating Expenses ($113,989) Net Operating Income $183,677 Debt Service ($87,418) Cash Flow Before Taxes $96,259 FINANCIAL INDICATORS Cash on Cash Return Before Taxes 16.08% Debt Coverage Ratio 2.10 Capitalization Rate 9.21% Gross Rent Multiplier 6.38 Gross Income / Square Feet $15.28 Gross Expenses / Square Feet ($5.57) Operating Expense Ratio 38.29% page 6 of 10
Unit Mix Report UNIT MIXES Units Type Approx. SqFt Avg. Rents Monthly Mkt Rents Monthly 1 Studio 500 $675 $675 $725 $725 12 One Bed 600 $790 $9,480 $850 $10,200 10 One Bed Den 750 $878 $8,780 $950 $9,500 1 One Bed Den 750 $875 $875 $1,000 $1,000 2 Two Bed 750 $900 $1,800 $950 $1,900 2 Two Bed 1.5 Bath 1000 $1,015 $2,030 $1,050 $2,100 1 Three Bed 1000 $1,200 $1,200 $1,300 $1,300 29 20,450 $24,840 $26,725 UNIT MIX UNIT MIX SQUARE FEET Studio One Bed One Bed Den One Bed Den Garage Two Bed Two Bed 1.5 Bath Three Bed Studio One Bed One Bed Den One Bed Den Garage Two Bed Two Bed 1.5 Bath Three Bed UNIT MIX INCOME UNIT MIX MARKET INCOME Studio One Bed One Bed Den One Bed Den Garage Two Bed Two Bed 1.5 Bath Three Bed Studio One Bed One Bed Den One Bed Den Garage Two Bed Two Bed 1.5 Bath Three Bed page 7 of 10
Income & Expense Analysis INCOME Actual Per Unit Pro Forma Per Unit Gross Potential Rent $298,080 $10,279 $320,700 $11,059 Less: Vacancy ($14,904) ($514) ($16,035) ($553) Misc. Income $14,490 $500 $16,500 $569 Effective Gross Income $297,666 $10,264 $321,165 $11,075 OPERATING EXPENSES Actual Per Unit Pro Forma Per Unit Property Management Fee $14,883 $513 $16,035 $553 Building Insurance $18,434 $636 $18,434 $636 Repairs & Maintenance $14,500 $500 $14,500 $500 Landscaping/Snow Removal $7,875 $272 $7,875 $272 Payroll & Admin $8,100 $279 $8,100 $279 Property Taxes $35,231 $1,215 $35,231 $1,215 Trash Removal $3,759 $130 $3,759 $130 Utility - Electricity $3,600 $124 $3,600 $124 Water & Sewer $7,607 $262 $7,607 $262 Total Expenses ($113,989) ($3,931) ($115,141) ($3,970) Net Operating Income $183,677 $6,334 $206,024 $7,104 page 8 of 10
Income & Expense Analysis UNIT MIX & ANNUAL SCHEDULED INCOME Type Units Actual Total Pro Forma Total Studio 1 $8,100 $8,100 $8,700 $8,700 One Bed 12 $9,480 $113,760 $10,200 $122,400 One Bed Den 10 $10,536 $105,360 $11,400 $114,000 One Bed Den Garage 1 $10,500 $10,500 $12,000 $12,000 Two Bed 2 $10,800 $21,600 $11,400 $22,800 Two Bed 1.5 Bath 2 $12,180 $24,360 $12,600 $25,200 Three Bed 1 $14,400 $14,400 $15,600 $15,600 INVESTMENT SUMMARY Price: $1,995,000 Year Built: 1989 Units: 29 Price/Unit: $68,793 RSF: 20,450 Price/RSF: $97.56 Lot Size: 2.32 acres Floors: 2 Cap Rate: 9.21% Pro Forma Cap Rate: 10.33% GRM: 6.38 TOTALS 29 $298,080 $320,700 ANNUALIZED INCOME Actual Pro Forma Gross Potential Rent $298,080 $320,700 Less: Vacancy ($14,904) ($16,035) Misc. Income $14,490 $16,500 Effective Gross Income $297,666 $321,165 Less: Expenses ($113,989) ($115,141) Net Operating Income $183,677 $206,024 Debt Service ($87,418) ($87,418) Net Cash Flow after Debt Service $96,259 $118,606 Principal Reduction $21,549 $21,549 Total Return $117,808 $140,155 Pro Forma GRM: 5.92 FINANCING SUMMARY Loan Amount: $1,396,500 Down Payment: $598,500 Loan Type: Fixed Interest Rate: 4.75% Term: 30 years Monthly Payment: $7,285 DCR: 2.1 ANNUALIZED EXPENSES Actual Pro Forma Property Management Fee $14,883 $16,035 Building Insurance $18,434 $18,434 Repairs & Maintenance $14,500 $14,500 Landscaping/Snow Removal $7,875 $7,875 Payroll & Admin $8,100 $8,100 Property Taxes $35,231 $35,231 Trash Removal $3,759 $3,759 Utility - Electricity $3,600 $3,600 Water & Sewer $7,607 $7,607 Total Expenses $113,989 $115,141 Expenses Per RSF $5.57 $5.63 Expenses Per Unit $3,931 $3,970 page 9 of 10
Biography Professional Bio WHO WE ARE Northeast Private Client Group is the fastest-growing mid market investment sales firm in the Northeast. We provide unmatched results by combining specialized market intelligence with a relationshipbased marketing strategy that caters to our individual clients needs. Our experienced team is at the forefront of sourcing and transacting mid-market investment opportunities between Boston and New York, offering clients local submarket intelligence and rich industry expertise. Our collaborative and research-driven solutions are tailored to meet the individual needs of investors and property owners across the Northeast who are looking to buy, sell or exchange mid-market properties, including mixed-use, multifamily, retail and office assets. We have a proven track record of matching our clients with qualified buyers of multifamily and commercial properties. Throughout all market cycles, our team works closely with building owners to help meet their needs for preserving capital, repositioning assets, growing returns and maximizing value. We are your strategic partner, offering the accessibility, commitment and knowledge necessary to effectively achieve your goals. With offices in Connecticut, Massachusetts and New York, Northeast Private Client Group delivers institutional quality support to our mid-market clients. This highly-disciplined process is just one of the many reasons we have earned the CoStar Power Broker designation year after year. page 10 of 10