EXCLUSIVE MULTIFAMILY OFFERING - LoopNet
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EXCLUSIVE MULTIFAMILY OFFERING EXCLUSIVE MULTIFAMILY OFFERING OFFERING SUMMARY Price $4,750,000 Down Payment 35% / $1,662,500 Loan Amount $3,087,500 Loan Type Proposed New Interest Rate / Amortization 4.75% / 30 Years Units 32 Price Per Unit $148,438 Rentable SF 13,685 Price Per Rentable SF $347 Year Built/Renovated 1925 Lot Size 0.23 acre(s) CHELSEA COURT 130 NW 19TH AVE, PORTLAND, OR 97209 32 APARTMENT UNITS INVESTMENT HIGHLIGHTS AMENITIES ASSET PERFORMANCE DATA CURRENT PRO FORMA CAP Rate 5.40% 6.15% Net Operating Income $256,517 $292,207 Net Cash Flow After Debt Service 3.80% / $63,247 5.95% / $98,937 Total Return 6.67% / $110,889 8.96% / $148,892 GRM 12.33 11.11 EXCLUSIVELY LISTED BY: Whitney Rhoades Vice President Investments Director, National Multi Housing Group Tel: (503) 200-2022 Licenses: OR 201204200, WA 113190 [email protected] www.marcusmillichap.com/WhitneyRhoa des Danalee Corso Associate Member, National Multi Housing Group Tel: (503) 200-2045 License: OR 201214251 [email protected] www.marcusmillichap.com/DanaleeCorso § Coveted Northwest Portland Location § Walk Score of 98 "Walker's Paradise" and Bike Score of 95 "Biker's Paradise" § Twenty-Nine Studio Units and Three One Bedroom Units § Desirable Turn-of-Century Vintage Property Common Area Amenities § On-Site Laundry Facility § Secured Entry Unit Amenities § Hardwood and Tile Flooring § Clawfoot Tubs in Bathrooms 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. (Activity ID: Y0210511 Property ID: 2585726)
Transcript of EXCLUSIVE MULTIFAMILY OFFERING - LoopNet
EXCLUSIVE MULTIFAMILY OFFERINGEXCLUSIVE MULTIFAMILY OFFERING
OFFERING SUMMARYPrice $4,750,000Down Payment 35% / $1,662,500Loan Amount $3,087,500
Loan Type Proposed NewInterest Rate / Amortization 4.75% / 30 Years
Units 32Price Per Unit $148,438Rentable SF 13,685Price Per Rentable SF $347Year Built/Renovated 1925Lot Size 0.23 acre(s)
CHELSEA COURT130 NW 19TH AVE, PORTLAND, OR 9720932 APARTMENT UNITS
INVESTMENT HIGHLIGHTS
AMENITIES
ASSET PERFORMANCE DATA
CURRENT PRO FORMA
CAP Rate 5.40% 6.15%Net Operating Income $256,517 $292,207Net Cash Flow After Debt Service 3.80% / $63,247 5.95% / $98,937Total Return 6.67% / $110,889 8.96% / $148,892GRM 12.33 11.11
EXCLUSIVELY LISTED BY:Whitney RhoadesVice President InvestmentsDirector, National Multi Housing GroupTel: (503) 200-2022Licenses: OR 201204200, WA [email protected]/WhitneyRhoades
Danalee CorsoAssociateMember, National Multi Housing GroupTel: (503) 200-2045License: OR 201214251danalee.corso@marcusmillichap.comwww.marcusmillichap.com/DanaleeCorso
§ Coveted Northwest Portland Location
§ Walk Score of 98 "Walker's Paradise" and Bike Score of 95 "Biker's Paradise"
§ Twenty-Nine Studio Units and Three One Bedroom Units
§ Desirable Turn-of-Century Vintage Property
Common Area Amenities§ On-Site Laundry Facility
§ Secured Entry
Unit Amenities§ Hardwood and Tile Flooring
§ Clawfoot Tubs in Bathrooms
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. (Activity ID: Y0210511 Property ID: 2585726)
EXCLUSIVE MULTIFAMILY OFFERING
UNIT MIX
UNIT COUNT UNIT TYPE AVERAGE.
SQUARE FEETCURRENT AVG.
RENTAVERAGERENT/SF
MONTHLY INCOME
POTENTIAL RENTS
AVERAGE RENT/SF
MONTHLY INCOME
29 Studio / One Bath 415 $979 $2.36 $28,391 $1,092 $2.63 $31,668
3 One Bedroom / One Bath 550 $1,232 $2.24 $3,696 $1,317 $2.39 $3,951
EXPENSES
Real Estate Taxes $29,525 $30,411
Insurance $5,362 $5,523
Utilities - Electric $2,375 $2,446
Utilities - Water & Sewer $16,850 $17,355
Utilities - Gas $3,383 $3,485
Trash Removal $2,928 $3,016
Repairs & Maintenance $16,000 $16,000
Turnover $8,000 $8,000
Landscaping $2,560 $2,637
Marketing & Advertising $2,400 $2,400
Telecomm $675 $696
General & Administrative $5,833 $6,008
Operating Reserves $8,000 $8,000
Management Fee $27,127 $29,971
Total Expenses $131,018 $135,946
Expenses Per Unit $4,094 $4,248
Expenses Per SF $9.57 $9.93
Expenses as % of EGI 33.81% 31.75%
EXCLUSIVE MULTIFAMILY OFFERING
101 West Elm Street, Suite 600, Conshocken, PA 19428 | Tel (215) 531-7000 Fax: (215) 531-7010
OPERATING DATA
CURRENT PRO FORMA
Gross Scheduled Rent $385,140 $427,500
Less: Vacancy/Deductions (GPR) 5.00% / ($19,257) 5.00% / ($21,375)
Total Effective Rental Income $365,883 $406,125
Other Income $21,652 $22,028
Effective Gross Income $387,535 $428,153
Less: Expenses ($131,018) ($135,946)
Net Operating Income $256,517 $292,207
Cash Flow $256,517 $292,207
Debt Service $193,270 $193,270
Net Cash Flow After Debt Service 3.80% / $63,247 5.95% / $98,937
Principle Reduction $47,642 $49,955
Total Return 6.67% / $110,889 8.96% / $148,892
CHELSEA COURT130 NW 19TH AVE, PORTLAND, OR 9720932 APARTMENT UNITS
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. (Activity ID: Y0210511 Property ID: 2585726)
