Property

Harrison Central Apartments East 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
1.8x
Only 3 spots 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, an attractive, affordable commuter market near New York City. 207 S. Harrison Street is a 25 unit mid-rise building located within downtown East Orange in a desirable urban mixed residential/commercial neighborhood on a very popular residential street one block from Orange Park. 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 a 9 minute walk from the Property and offers regular direct service to New York Penn Station in 19-25 minutes, a half hour commute to NYC.

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Key Points

  • Great opportunity to invest in a high performing asset that One Wall Partners has owned and managed since 2013.
  • One Wall Partners has spent over $50k on renovations and improvements that include a new boiler, unit renovations and a new water heater.
  • One Wall Partners' management team has successfully evicted all problem tenants and dramatically reduced arrears. These efforts have led to a 12% increase ($31,000 annually) to the current rent roll since December 2013.
 

Financials

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Location Details

East Orange, NJ

The property is on the Central Ave retail corridor and is minutes to I-280 and the Garden State Parkway. It is also within a few blocks of NJ Transit trains and buses, which provide easy access to NYC.

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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.

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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, you can create an account to view detailed information about Harrison Central Apartments.

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

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