54 Pemberwick Road

54 Pemberwick Road | Greenwich | CT | 06831 Back to Properties


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Overview

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Property Details

  • Price: $ 1,975,000
  • Cap Rate: 5.50%
  • Units: 4
  • Price/Unit: $ 493,750
  • Rentable SF: 2,342 SF
  • Price/Square Foot: $ 843
  • Site Size: .14 AC
  • Parking: Garage & Off-Street
  • Year Built: 1921
  • Exterior: Brick

Property Description

The mixed-use property located at 54 Pemberwick Road, Greenwich CT is comprised of 4 units (2-two bedroom, 1-four bedroom duplex, and 1 studio that is used as an office for a plumbing company) totaling 2,342 rentable square feet in one-three story building built in 1921 and situated on a 0.14 acre site.  In the rear of the property there is a free-standing two car garage that is currently rented along with 8 additional off-street parking spots, and an additional garage underneath the property to the plumbing company that occupies the studio apartment for commercial use.  There is an additional 2 off-street parking spots for the tenants at the property.  The plumbing company currently pays for the trash and snow removal at the property.  Recent capital improvements to the building include a new gas boiler and hot water heater installed 3 years ago and a new flat roof for that section of the property.

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Financial Summary

54 Pemberwick Road

Investment Highlights

Price $ 1,975,000.00
Units 4
Year Built 1921
Parking Garage & Off-Street
Heat Gas - Owner Pays
Hot Water Gas - Owner Pays
Roof Flat & Pitched
Exterior Brick
Site Size 0.14 Acres

Metrics

Price / Unit $ 493,750.00
Price / SF $ 843.30
Gross Rent Multiplier 14.07

 

Income & Expenses

Income
Potential
Current
Gross Scheduled Rent $ 151,800.00 $ 140,400.00
Less: Vacancy $ 3,036.00 $ 2,808.00
Based On: 2 % est. 2 % est.
Net Rent Income $ 148,764.00 $ 137,592.00
Total Operating Income $ 148,764.00 $ 137,592.00

 

Expense
Potential
Current
Real Estate Taxes $ 7,112.60 $ 7,112.60
Insurance $ 6,000.00 $ 4,288.64
Heat/Hot Water $ 5,523.51 $ 5,523.51
Water $ 2,325.31 $ 2,325.31
Management Fees $ 4,462.92 $ 4,127.76
Based On: 3% est. 3% est.
Maintenance/Repairs $ 5,950.56 $ 5,503.68
Based On: 4% est. 4% est.
Total Expenses $ 31,374.90 $ 28,881.50
Net Operating Income $ 117,389.10 $ 108,710.50
Cap Rate 5.94 % est. 5.50 % est.

All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made to the accuracy thereof and same is submitted to errors, omissions, change of price, rental or other conditions, prior to sale or lease, or withdrawal without notice. National Multifamily Corp. makes no warranty or representation about the content of this brochure. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property.

 

Rent Roll

Unit
BR/BA
Current Monthly Rent
Potential Monthly Rent
Status
Lease Expires
10/1$4,400$4,500
22/1$2,200$2,400
32/1$2,250$2,400
44/1$2,850$3,350

Totals

$ 11,700.00

$ 12,650.00

* 0 = Studio under BR

All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made to the accuracy thereof and same is submitted to errors, omissions, change of price, rental or other conditions, prior to sale or lease, or withdrawal without notice. National Multifamily Corp. makes no warranty or representation about the content of this brochure. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property.