154 Unit MultiFamily + 22 parking
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:
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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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