Description

Presenting a rare investment opportunity: five detached multifamily buildings, each located on the same street in ewing, nj. each building features four units—two spacious 2-bedroom, 1-bath apartments and two comfortable 1-bedroom, 1-bath apartments—totaling 20 units across the portfolio.

property highlights:

unit mix: each building offers 2 × 2br/1ba and 2 × 1br/1ba units, for a total of 10 two-bedroom and 10 one-bedroom units.

configuration: all five buildings are detached and situated on a single street, maximizing curb appeal and operational efficiency.

current income: the portfolio generates a gross scheduled rent of $270,264 and a collected rent of $251,000 annually, with a net operating income (noi) of approximately $169,234 after projected renovations.

cap rate: at the $2,200,000 asking price and projected noi, the cap rate is approximately 7.7% for a cash purchaser.

value-add upside:

unlock the property’s full potential by investing approximately $300,000 in targeted renovations:

interior upgrades: install vinyl plank flooring, granite countertops, stainless steel appliances, fresh paint, new vanities, and updated flooring and tile work in each bathroom.

building enhancements: add a chain-link fence for secure basement storage for each building, washer and dryer installations in the basement, and exterior security cameras for peace of mind.

amenities: construct a vestibule outside each building for secure package delivery, and pave the driveway to create two new parking spaces in the front and two in the rear of each building.

section 8 potential: these improvements will significantly increase the property’s appeal and rental income, especially for section 8 tenants, where the enhanced amenities and finishes are expected to command higher allowable rents.

seller financing available:

flexible seller financing terms are offered to qualified buyers:

down payment: $1,200,000 cash

seller financing: $1,000,000 at a competitive 3% interest rate, amortized over 30 years, with a 5-year balloon period

investment summary:

asking price: $2,200,000

gross scheduled rent: $270,264

net operating income (pro forma): $169,234 (post-renovation)

cap rate: 7.7% (cash purchase, post-renovation)

seller financing: $1,000,000 at 3% interest, 5-year balloon

this is a unique opportunity to acquire a well-located, high-upside multifamily portfolio with significant value-add potential and attractive seller financing. contact us today for a full financial package and to schedule a tour.

• Property Type

  Multi-Family

• County

  MERCER

• Style

  Colonial

• AD ID

  50210797