Property

Adelphia Apartments Orange, NJ

Property
Type
Multi-Family
Investment Type
Property
Asset Profile
Value Add
Min. Investment
$50K
Estimated Hold
3-5Y
Target Return (IRR)
15-16%
Target Annual Cash
11%
Target Equity Multiple
1.9x
Only 1 spot left to invest
 

Offered By

One Wall Partners LLC Experienced Sponsor

Newark, NJ

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Assets Under
Management

Currently
$73.84MM
Exited
$2MM
Portfolio LTV
70%
Historical
Realized Returns

Total IRR
18%
Equity Multiple
1.4x
Annual Cash
10%
Years Of
Experience

As Principals
30+ years
In Business
7 years
Size
5 Staff
* All information is reported by One Wall Partners LLC as of 2/21/2017.
 

About this Property

This transaction is a compelling opportunity to invest in a stable, well-maintained asset in Essex County (“Essex”, “County”), an attractive, affordable commuter market near New York City (“NYC”). 41 Main Street (“41 Main”, the “Property”) is a 43 unit (42 tenants plus super) mid-rise building located in Orange, NJ on the border of downtown East Orange. The property is in a desirable urban mixed residential/commercial neighborhood on a retail strip two blocks from Brick Church Plaza and the train station. The building is located less than 15 miles from NYC and near local shopping, restaurants, schools and a hospital. It has easy access to mass transportation, highways and the ports and downtown of Newark. The Brick Church NJ Transit train is roughly an 6 minute walk from the Property and offers regular direct service to New York Penn Station in 19-25 minutes, offering a half hour commute to NYC.

41 Main is a 5-story brick elevator building that has undergone over $70,000 of improvements since Nova acquired the property in 2014.

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Key Points

  • Great opportunity to invest in a high performing asset that One Wall Partners has owned and managed since 2014.
  • One Wall Partners has spent over $70k on renovations and improvements that include upgrades to the units as they turnover, new appliances, new water heaters and many plumbing repairs.
  • One Wall Partners' management team has successfully evicted problem tenants and dramatically reduced arrears. These efforts have led to a 12% increase ($50,000 annually) to the current rent roll since August 2014.
 

Financials

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Location Details

Orange, NJ

The property is on the Main St retail corridor and is within a mile of the I-280 and the Garden State Parkway intersection. It is also within a few blocks of multiple NJ Transit trains and buses, which provide easy access to NYC in approximately 30 minutes.
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Documents

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Frequently Asked Questions

Below are some of the most frequently asked questions about this offering.

The first projected distribution is scheduled for July 2017.

Distributions are scheduled to go out on a quarterly basis.

Yes, non-US residents are welcome to apply.

RealCrowd is free for investors. RealCrowd charges a technology access fee to the operating partner for our services. We do not charge investors any upfront fees, ongoing asset management fees or promote/carried interest in the investments.

RealCrowd offerings are open to US-based accredited investors. RealCrowd does not recommend or advise on any offering on our platform. While we have minimum history and experience threshold for sponsors who post on our platform, if you are unable to perform your own due diligence, please consult with an attorney or financial advisor prior to making an investment.

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Have a Question?

Send One Wall Partners LLC and/or RealCrowd a message. If you have a question about this offering ask One Wall Partners LLC. If you have a question about the transaction process or other general inquiry, RealCrowd will be happy to help.

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In the meantime, please review the offering documents and financials.

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