154 Unit MultiFamily + 22 parking

  Property Photo Listing ID: 40272158384
Last Updated: 1/20/2011
Property Type(s): Multi-Family: Garden/Low-Rise
Property Use Type: Investment  
Tenancy Type: Multiple
Property Address: sign up and log in in order to request the street address and view the photos
Upper Darby, PA 19082, US
 

Contact

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Price

Asking Price: $ 9,000,000   Opinion of Value: $ 9,000,000

 
 

Property Size

Existing Built
Square Footage:
 99,000 square feet
Investment Type:   Stabilized
  Number of Units:  154
  Percent Occupied:  92 %

Property Details

 
 

Property Description:

Three properties consisting of 154 apartments containing 495 rooms, 8 Retail units and 21 garages. READY WILLING ALL CASH BUYER TO CLOSE IMMEDIATELY
Minerva Court, 130 Garrett Road AKA 250 Chestnut; Richfield Gardens Apartment, 104-114 Richfield Road, and Barrington Gardens, 126 Barrington Road, Upper Darby PA 19082

 
 

Property Location:

6 miles from Philadelphia. Close to shopping areas, transportation
 

Highlights:

Highly stabilized property with numerous recent capital improvements
 

Property Financials

  (This Income/Expense Information is Proforma)
 

Annual Income

Analytical Calculations
    Scheduled Gross Income, Annually:   $ 1,274,364 Gross Rent Multiplier: 7.06  
     Capitalization Rate: 7.54 %  
       
      
    
 
a. Effective Gross Income, Annualy: $ 1,274,364
 
 

Annual Expenses

Analytical Calculations
 
    Management: $ 56,254 Expenses per unit: $ 3,866
    Maintenance: $ 72,500 Expenses per square foot: $ 6.01  
    Taxes: $ 191,325 Price per unit: $ 58,442  
    Insurance: $ 33,276 Price per square foot (building): $ 91
    Heating: 2 buildings tenats pay own $ 27,224
    CAM- Hallways $ 8,514
    Water & Sewer $ 60,157
    Contract Services- Snow,Trash, Landscaping $ 29,000
    Payroll $ 72,500
    License & Inspection $ 8,360
    Reserves $ 36,250
 
b. Total Annual Expenses: $ 595,360
 
 

Annual Net Financials

 
c.  Net Operating Income, Annually $ 679,004
d. Annual Debt Service: $
e. Other Annual Capital Costs: $
  Pre Tax Cash Flow, Annually $
 

Financing Information

   
This Loan is Proposed.

Unit Mix Information

   
 
Description No. of Units Square feet Avg. mo. rent
 
studios   45
1 bedrooms   52
2 bedrooms   51
Retail Stores   8
44 car interior parking spaces   44
 

Property Attachments

   
 
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