SUMMER AVE PORTFOLIOSummer Ave • Newark, NJ 07104

Offering Memorandum

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687 SUMMERNewark, NJACT ID Y0280295

N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E

Non-EndorsementsMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified inthis marketing package. The presence of any corporation's logo or name is not intended to indicate or imply affiliationwith, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or anyagent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose ofproviding tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

DisclaimerTHIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS OF VALUE AND SHOULD NOT BECONSIDERED AN APPRAISAL. This information has been secured from sources we believe to be reliable, but wemake no representations or warranties, express or implied, as to the accuracy of the information. References tosquare 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. © 2017 Marcus &Millichap. All rights reserved.

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P R E S E N T E D B Y

Chip Collins

Licensed Real Estate SalespersonNew Jersey OfficeTel: (201) 742-6124Fax: (201) 742-6110charles.collins@marcusmillichap.comLicenses: NJ 0016571, NY 10401230649, PA RSR001965

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TABLE OF CONTENTS

SECTION

FINANCIAL ANALYSIS 01Rent Roll Summary

Rent Roll Detail

Operating Statement

Notes

Pricing Detail

Proposal Price

687 SUMMER

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789 SUMMER

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INVESTMENT

OVERVIEW

PROPERTY OVERVIEW

789 SUMMER

PROPERTY OVERVIEW

Marcus & Millichap is pleased to present an opportunity to acquire a fully occupied, twelve unit portfolio in Newark's North Ward. The two, six unit buildings are located on

summer street, in the Broadway neighborhood of Newark's North Ward. Both three story buildings have been totally renovated over the past 10-15 years and investors can

expect a well-maintained, turn-key asset.

Each building has six two bedroom apartments. Each apartment has it's own HVAC unit to provide heating and cooling. Tenants pay for their own separately metered gas &

electric. Tenants are also responsible for their own heating and hot water costs. Owner pays for water and sewer.

Bonus space/profitability:

On the basement level of each building there are two additional 1 bedroom units. These units are heated by baseboard hotwater. The units share one boiler and hot water

heater. Landlord pays for the costs of the heating and the hot water. Tenants pay for their own separately metered cooking gas & electric. Note: State green card and city

recognize each building as a 6 unit property.

PROPERTY OVERVIEW

� 12 unit portfolio (two buildings) in Newark's North Ward

� Unit mix (in each building) consists of six 2 bedroom apartments and two groundlevel 1 bedroom units

� All two bedrooms are heated/cooled by individual HVAC units

� Tenants pay for heat/hot water and individually metered gas & electric

� Bonus units (basement) share a boiler and hot water heater which is the landlord'sexpense

� Each property is recognized by city and state as a six unit building.

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789 SUMMERNewark, NJ

PROPERTY PHOTOS

789 SUMMER

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PROPERTY PHOTOS

789 SUMMER

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PROPERTY PHOTOS

789 SUMMER

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PROPERTY PHOTOS

789 SUMMER

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REGIONAL MAP

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LOCAL MAP

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AERIAL PHOTO

789 SUMMER

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687 SUMMER AVENewark, NJ

687 SUMMER

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FINANCIAL

ANALYSIS

FINANCIAL ANALYSIS

687 SUMMER

RENT ROLL SUMMARY

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FINANCIAL ANALYSIS

687 SUMMER

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RENT ROLL DETAIL

FINANCIAL ANALYSIS

687 SUMMER

OPERATING STATEMENT

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FINANCIAL ANALYSIS

687 SUMMER

NOTES

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FINANCIAL ANALYSIS

687 SUMMER

PRICING DETAIL

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www.MarcusMillichap.com

Chip Collins

Licensed Real Estate Salesperson

New Jersey OfficeTel: (201) 742-6124Fax: (201) 742-6110

charles.collins@marcusmillichap.comLicenses: NJ 0016571, NY 10401230649, PA RSR001965

P R E S E N T E D B Y

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