Summer Ave Portfolio - images2.loopnet.comimages2.loopnet.com/d2/d_j051cnCo5EPrfjHsFMqtQXkk... ·...
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SUMMER AVE PORTFOLIOSummer Ave • Newark, NJ 07104
Offering Memorandum
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687 SUMMERNewark, NJACT ID Y0280295
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-EndorsementsMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified inthis marketing package. The presence of any corporation's logo or name is not intended to indicate or imply affiliationwith, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or anyagent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose ofproviding 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.
DisclaimerTHIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS OF VALUE AND SHOULD NOT BECONSIDERED AN APPRAISAL. This information has been secured from sources we believe to be reliable, but wemake no representations or warranties, express or implied, as to the accuracy of the information. References tosquare 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. © 2017 Marcus &Millichap. All rights reserved.
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P R E S E N T E D B Y
Chip Collins
Licensed Real Estate SalespersonNew Jersey OfficeTel: (201) 742-6124Fax: (201) [email protected]: NJ 0016571, NY 10401230649, PA RSR001965
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TABLE OF CONTENTS
SECTION
FINANCIAL ANALYSIS 01Rent Roll Summary
Rent Roll Detail
Operating Statement
Notes
Pricing Detail
Proposal Price
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INVESTMENT
OVERVIEW
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PROPERTY OVERVIEW
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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 groundlevel 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'sexpense
� Each property is recognized by city and state as a six unit building.
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789 SUMMERNewark, NJ
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PROPERTY PHOTOS
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PROPERTY PHOTOS
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PROPERTY PHOTOS
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PROPERTY PHOTOS
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REGIONAL MAP
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LOCAL MAP
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AERIAL PHOTO
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687 SUMMER AVENewark, NJ
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FINANCIAL
ANALYSIS
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FINANCIAL ANALYSIS
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RENT ROLL SUMMARY
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FINANCIAL ANALYSIS
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RENT ROLL DETAIL
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FINANCIAL ANALYSIS
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OPERATING STATEMENT
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FINANCIAL ANALYSIS
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NOTES
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FINANCIAL ANALYSIS
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PRICING DETAIL
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www.MarcusMillichap.com
Chip Collins
Licensed Real Estate Salesperson
New Jersey OfficeTel: (201) 742-6124Fax: (201) 742-6110
[email protected]: NJ 0016571, NY 10401230649, PA RSR001965
P R E S E N T E D B Y
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