22 apartment units 226 w broadway st ...images1.loopnet.com/d2/ny1seiglppphqlvlwvm...226 w broadway...
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EXCLUSIVE MULTIFAMILY OFFERINGEXCLUSIVE MULTIFAMILY OFFERING
OFFERING SUMMARYPrice $1,850,000Down Payment 25% / $462,500Loan Amount $1,387,500
Loan Type Proposed NewInterest Rate / Amortization 4.25% / 30 Years
Units 22Price Per Unit $84,091Rentable SF 12,420Price Per Rentable SF $149Year Built/Renovated 1972Lot Size 0.46 acre(s)
GOLDEN SANDS APARTMENTS226 W BROADWAY ST, GOLDENDALE, WA 9862022 APARTMENT UNITS
INVESTMENT HIGHLIGHTS
ASSET PERFORMANCE DATA
CURRENT YEAR 1
CAP Rate 5.86% 6.82%Net Operating Income $108,345 $126,205Net Cash Flow After Debt Service 5.72% / $26,437 9.58% / $44,298Total Return 10.77% / $49,829 14.85% / $68,703GRM 10.86 9.78
EXCLUSIVELY LISTED BY:Georgie Christensen-RileySenior AssociateAssociate Director, National Multi Housing GroupTel: (503) 200-2058License: OR 201209670georgie.christensen@marcusmillichap.comwww.marcusmillichap.com/GeorgieChristensen
Joel DeisBrokerTel: (206) 826-5750License: WA [email protected]
§ Upside in Rents, Bill-Backs and Storage Income
§ New Roofs Approximately Five Years Old
§ New Exterior Paint and Electrical Panels
§ All Units Have Dishwashers and Exterior Balcony with Storage Space
§ Large Units - Select Floorplans Feature Walk-in Closets, Dual Sinks in Master
§ Secure Access, On-site Fitness Facility, Multiple Coin-Operated Laundry
Rooms
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: ZAB0210079 Property ID: 5230172)
EXCLUSIVE MULTIFAMILY OFFERING
UNIT MIX
UNIT COUNT UNIT TYPE AVERAGE.
SQUARE FEETCURRENT AVG.
RENTAVERAGERENT/SF
MONTHLY INCOME
POTENTIAL RENTS
AVERAGE RENT/SF
MONTHLY INCOME
19 One Bed/One Bath 540 $624 $1.16 $11,856 $675 $1.25 $12,825
3 Two Bed/One Bath 720 $782 $1.09 $2,346 $825 $1.15 $2,475
EXPENSES
Real Estate Taxes $9,606 $9,894
Insurance $1,798 $1,852
Utilities - Electric $817 $817
Utilities - Water & Sewer $14,100 $14,100
Trash Removal $2,700 $2,700
Repairs & Maintenance $11,000 $11,000
Turnover $5,500 $5,500
Fire/Life & Safety $275 $275
General & Administrative $500 $500
Misc. Expenses $1,000 $1,000
Operating Reserves $5,500 $5,500
Management Fee $12,129 $13,499
Total Expenses $64,925 $66,637
Expenses Per Unit $2,951 $3,029
EXCLUSIVE MULTIFAMILY OFFERING
101 West Elm Street, Suite 600, Conshocken, PA 19428 | Tel (215) 531-7000 Fax: (215) 531-7010
OPERATING DATA
CURRENT YEAR 1
Gross Potential Rent $183,600 $189,108
Loss / Gain to Lease ($13,200)
Loss / Gain to Lease % 7.19% 0.00%
Gross Current Rent $170,400 $189,108
Total Vacancy ($8,520) ($9,455)
Total Vacancy % 5.00% 5.00%
Effective Rental Income $161,880 $179,653
Total Other Income $11,390 $13,190
Effective Gross Income $173,270 $192,843
Less Expenses ($64,925) ($66,637)
Less Expenses % 37.47% 34.56%
Net Operating Income $108,345 $126,205
Cash Flow $108,345 $126,205
Debt Service $81,908 $81,908
Debt Service Ratio 1.32 1.54
Net Cash Flow After Debt Service $26,437 $44,298
Net Cash Flow After Debt Service % 5.72% 9.58%
Principal Reduction $23,391 $24,405
GOLDEN SANDS APARTMENTS226 W BROADWAY ST, GOLDENDALE, WA 9862022 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: ZAB0210079 Property ID: 5230172)