16 unit portfolio - 3 corner properties · 2018-11-01 · page: 9 legacyre.com investment overview...

16 UNIT PORTFOLIO - 3CORNER PROPERTIES16 Unit Multifamily Portfolio - 3 Properties, Salem, OR

M U LT I F A M I LY P R O P E R T Y | F O R S A L E

PRESENTED BY:

AJ NASH

[email protected]

Licensed Principal Broker in Oregon

925 Commercial St. SE, Suite 220Salem, OR 97302LEGACYRE.COM

1PROPERTY INFORMATION


PAGE: 3

LEGACYRE.COM

OFFERING SUMMARY

Sale Price: $1,400,000

Number Of Units: 16

Cap Rate: 5.76%

NOI: $80,623

Available SF: 0 SF

Lot Size: 0.43 Acres

Building Size: 9,385

Zoning: RM

Price / SF: $149.17

PROPERTY OVERVIEW

Two 4-Plex's and One 8-Plex make up this 16 Unit MultiFamily Sale. Each propertylocated within a stone's throw of each other and each occupying valuable cornerlots close in to Salem Central. Each property is 100% occupied and located nearSalem Hospital, McCulloch Stadium, Willamette University and the heart ofSalem's culture, food, and entertainment. Room mix is 6 Studios, Eight1-Bedrooms, and Two 2-Bedrooms. Rent Roll and Financials available uponrequest. Showing instructions are to contact Listing Broker and please do notdisturb tenants.

PROPERTY HIGHLIGHTS

• 3 Property Portfolio For Sale

• Mix of Unit Sizes

• All 100% Occupied

• Each Centrally Located in the Heart of Downtown Salem

• Great Location

• Pride of Ownership

• Many Upgrades to Apartments/Bathrooms

• Quiet Neighborhoods

• Near Salem Hospital

• Close to Willamette University & McCulloch Stadium

• 6 Studios

• Eight 1-Bedroom

• Two 2-Bedrooms

• $87,500 Per Unit

1 | P R O P E R T Y I N F O R M AT I O N

EXECUTIVE SUMMARY16 Unit Portfolio - 3 Corner Properties 16 Unit Multifamily Portfolio - 3 Properties, Salem, OR

PAGE: 4

LEGACYRE.COM

SALE HIGHLIGHTS

• 3 Property Portfolio For Sale

• Mix of Unit Sizes

• All 100% Occupied

• Each Centrally Located in the Heart of DowntownSalem

• Great Location

• Pride of Ownership

• Many Upgrades to Apartments/Bathrooms

• Quiet Neighborhoods

• Near Salem Hospital

• Close to Willamette University & McCulloch Stadium

• 6 Studios

• Eight 1-Bedroom

• Two 2-Bedrooms

• $87,500 Per Unit


COMPLETE HIGHLIGHTS16 Unit Portfolio - 3 Corner Properties 16 Unit Multifamily Portfolio - 3 Properties, Salem, OR

PAGE: 5

LEGACYRE.COM


ADDITIONAL PHOTOS16 Unit Portfolio - 3 Corner Properties 16 Unit Multifamily Portfolio - 3 Properties, Salem, OR

PAGE: 6

LEGACYRE.COM



PAGE: 7

LEGACYRE.COM



2FINANCIAL ANALYSIS


PAGE: 9

LEGACYRE.COM

INVESTMENT OVERVIEW 16 UNIT PORTFOLIO MULTIFAMILY - 3 PROPERTIES

Price $1,400,000

Price per Unit $87,500

GRM 11.7

CAP Rate 5.8%

Cash-on-Cash Return (yr 1) 5.76 %

Total Return (yr 1) $80,623

Debt Coverage Ratio -

OPERATING DATA 16 UNIT PORTFOLIO MULTIFAMILY - 3 PROPERTIES

Gross Scheduled Income $120,180

Other Income $800

Total Scheduled Income $120,980

Vacancy Cost $3,605

Gross Income $117,374

Operating Expenses $36,750

Net Operating Income $80,623

Pre-Tax Cash Flow $80,623

2 | F I N A N C I A L A N A LY S I S

FINANCIAL SUMMARY16 Unit Portfolio - 3 Corner Properties 16 Unit Multifamily Portfolio - 3 Properties, Salem, OR

PAGE: 10

LEGACYRE.COM

INCOME SUMMARY 16 UNIT PORTFOLIO MULTIFAMILY - 3 PROPERTIES PER UNIT

Gross Income $117,374 $7,335

EXPENSE SUMMARY 16 UNIT PORTFOLIO MULTIFAMILY - 3 PROPERTIES PER UNIT

Insurance $3,573 $223Management $6,009 $375Landscape/Msc $6,400 $400Taxes $8,814 $550Electric $2,670 $166Gas $3,216 $201Water/Sewer $4,415 $275Garbage $1,652 $103

Gross Expenses $36,750 $2,296

Net Operating Income $80,623 $5,038


INCOME & EXPENSES16 Unit Portfolio - 3 Corner Properties 16 Unit Multifamily Portfolio - 3 Properties, Salem, OR

PAGE: 11

LEGACYRE.COM

UNIT

NUMBER

UNIT

BED

UNIT

BATH

UNIT

SIZE (SF)

CURRENT

RENT

CURRENT

RENT (PER SF)

MARKET

RENT

MARKET

RENT/SF

206 14th St NE 1 1 361 $525 $1.45 $575 $1.59

208 14th St NE 1 1 733 $635 $0.87 $795 $1.08

210 L 14th St NE 1 1 555 $680 $1.23 $750 $1.35

210 U 14th St NE 1 1 769 $675 $0.88 $795 $1.03

1411 Court St NE 1 1 343 $580 $1.69 $625 $1.82

1413 L Court St NE 1 1 452 $585 $1.29 $695 $1.54

1413 U Court St NE 1 1 1,508 $750 $0.50 $850 $0.56

1415 Court St NE 2 1 555 $825 $1.49 $895 $1.61

502 19th St SE 1 1 390 $525 $1.35 $595 $1.53

504 19th St SE 1 1 450 $600 $1.33 $695 $1.54

506 19th St SE 1 1 430 $600 $1.40 $695 $1.62

1920 Bellevue St SE 2 1 725 $800 $1.10 $895 $1.23

190 #A 14th St SE 1 1 897 $650 $0.72 $825 $0.92

190 #B 14th St SE 1 1 483 $600 $1.24 $750 $1.55

190 #C 14th St SE 1 1 270 $485 $1.80 $550 $2.04

190 #D 14th St SE 1 1 464 $500 $1.08 $700 $1.51

Totals/Averages 9,385 $10,015 $1.07 $11,685 $1.41


RENT ROLL16 Unit Portfolio - 3 Corner Properties 16 Unit Multifamily Portfolio - 3 Properties, Salem, OR

PAGE: 12

LEGACYRE.COM

UNIT TYPE COUNT % TOTAL

Studio 6 37.5

One Bedroom 8 50.0

Two Bedroom 2 12.5

Totals/Averages 16 100%


UNIT MIX SUMMARY16 Unit Portfolio - 3 Corner Properties 16 Unit Multifamily Portfolio - 3 Properties, Salem, OR

PAGE: 13

LEGACYRE.COM

POPULATION 1 MILE 2 MILES 3 MILES

Total population 14,873 47,661 97,311

Median age 34.7 34.6 34.4

Median age (Male) 35.6 34.0 33.3

Median age (Female) 35.0 36.1 36.0

HOUSEHOLDS & INCOME 1 MILE 2 MILES 3 MILES

Total households 5,884 17,663 36,801

# of persons per HH 2.5 2.7 2.6

Average HH income $45,861 $47,072 $48,491

Average house value $163,902 $169,671 $183,272

* Demographic data derived from 2010 US Census


DEMOGRAPHICS MAP & REPORT16 Unit Portfolio - 3 Corner Properties 16 Unit Multifamily Portfolio - 3 Properties, Salem, OR


OAR DISCLOSURE16 Unit Portfolio - 3 Corner Properties 16 Unit Multifamily Portfolio - 3 Properties, Salem, OR

PAGE: 14

LEGACYRE.COM


OAR DISCLOSURE16 Unit Portfolio - 3 Corner Properties 16 Unit Multifamily Portfolio - 3 Properties, Salem, OR

PAGE: 15

LEGACYRE.COM

16 unit portfolio - 3 corner properties · 2018-11-01 · page: 9 legacyre.com investment overview...

Documents