Just Listed: 95 Units in Southern NJ

Highlights:

• Portfolio Consisting of Four Separate Multifamily Properties, Totaling 95 Units
• Available as a Portfolio, or as Three Separate Offerings
• Properties are Historically Fully Occupied - Currently 1 Vacancy Throughout Portfolio
• Ability to Immediately Push Rents
• Average Price Per Unit of $61,000 with Double-Digit Cash-on-Cash Returns Day 1
• Excellent Financing Options with Multiple Years Interest Only Available

Description:

Marcus & Millichap is pleased to present for sale the Gladiator Portfolio, which consists of four separate multifamily properties, totaling 95 units. The properties are all located in Southern New Jersey.

Southern Cross and Maple Shade Arms are packaged together, and total 45 units. These two properties are located adjacent to each other in Maple Shade, Burlington County.

The portfolio also consists of Regency Court, 32 units in Magnolia, Camden County, and the LaMonte Apartments, 18 units in Audubon, Camden County.

The seller will consider offers as a package of all four properties, or separately as three offerings. Each of the properties provide well maintained workforce housing in middle- to upper-income suburban towns in Southern New Jersey. Because the portfolio has been historically been fully occupied by current ownership, a new owner has the ability to begin a renovation program and obtain higher rents. Each of the properties are a short drive to the major thoroughfares in South Jersey, which provide easy access to Philadelphia. Also nearby are a number of shopping, dining, and entertainment options, as well as public transportation.

The Gladiator Portfolio is being offered at a price of $5,825,000 (see enclosed for the breakdown of pricing). At an average price per unit of $61,000, the properties are being offered at significantly below replacement costs. There is excellent financing available at up to 80% LTV with multiple years of interest only available – Please see broker for additional details.

For More Information:

• Contact Andrew Townsend at 215-531-7020