(5) Four-Plex units for Sale in Ewing, NJ - CAP rate north of 7%

[Matt Faircloth]

Hi BP,

We have a 20 unit apartment complex for sale.  It's broken down into (5) four-plexes on separate tax deeds.  (10) one bedrooms and (10) 2 bedrooms.  4 of the 5 buildings have a laundry room with coin opp machines owned by the landlord.  Tenants pay electric and cooking gas in all but 1 building; in that one they pay for everything but water & sewer.  The properties have been well cared for and most units are recently rehabbed.  Stable tenants, most have been in place for a long period.  We could remain as manager for the right buyer but that's not a requirement.

More pictures and web link for marketing our vacancies are Here.

Here are the actual 2014 performance numbers:

Revenue (including rent, laundry income, and vacancy) = $216,576

Management - $11,769

Water & Sewer - $8,468

Gas & Electric - $13,776

Insurance - $6,289

Tax - $34,879

Total Expenses - $75,181

Net Operating Income = $141,395

Price per building = $360,000 ($1,800,000 for all 5)

CAP Rate = 7.86%

Price negotiable if buyer takes all 5 buildings.  Contact me for more info!