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RICK FERRIS PATRICK DOWD SEQUOIA REALTY CORP. President Vice President 7464 Mentor Ave., Suite 205 P: (440) 946-8600 x103 P: (216) 406-0476 Mentor, OH 44060 E: [email protected] E: [email protected] (440) 946-8600 www.SequoiaRealty.com MULTI TENANT INVESTMENT Multifamily & Commercial 4084 – 4098 Erie St. Willoughby, OH 44094

MULTI TENANT INVESTMENT RICK FERRIS PATRICK DOWD … · Offering Summary Price $2,600,000 Reduced to $2,090,000 Down Payment $590,000 Loan Amount $1,500,000 Interest Rate/Amortization/Term

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Page 1: MULTI TENANT INVESTMENT RICK FERRIS PATRICK DOWD … · Offering Summary Price $2,600,000 Reduced to $2,090,000 Down Payment $590,000 Loan Amount $1,500,000 Interest Rate/Amortization/Term

RICK FERRIS PATRICK DOWD SEQUOIA REALTY CORP. President Vice President 7464 Mentor Ave., Suite 205 P: (440) 946-8600 x103 P: (216) 406-0476 Mentor, OH 44060 E: [email protected] E: [email protected] (440) 946-8600 www.SequoiaRealty.com

MULTI TENANT INVESTMENT Multifamily & Commercial 4084 – 4098 Erie St. Willoughby, OH 44094

Page 2: MULTI TENANT INVESTMENT RICK FERRIS PATRICK DOWD … · Offering Summary Price $2,600,000 Reduced to $2,090,000 Down Payment $590,000 Loan Amount $1,500,000 Interest Rate/Amortization/Term

For SALE

Historic 22 unit Multifamily/Commercial building located in Downtown Willoughy.

• 18 Apartments

• 4 Storefronts

Situated on a corner lot made up of 3 parcels totaling 0.37 Acres.

Located in Downtown Willoughby surrounded by

over 50 restaurants and shops within a ½ mile. Visit http://downtownwilloughbyohio.com/ for additional information on the area.

Built in 1901, it continues to showcase its historic charm.

Offering Summary

Price $2,600,000 Reduced to $2,090,000

Down Payment $590,000

Loan Amount $1,500,000

Interest Rate/Amortization/Term 5.0% / 25

Cap Rate 8.89%

Market Operating Data

Gross Potential Rent $312,720

Less: Vacancy/Deductions (GPR) 3.0% / $9,382

Effective Gross Income $303,338

Less: Expenses $117,629

Net Operating Income $185,709

Debt Service $105,226

Debt Coverage Ratio 1.76

Net Cash Flow After Debt Service $80,483

Principal Reduction (5 year average/year) $34,259

Total Return 19.45% / $114,742

Unit Mix No. of Units Unit Type Market Rent

12 1 Bedroom $765

4 2 Bedroom $795

2 2+ Bedroom $850

4 Commercial $16.00/SF

SUMMARY 4084 – 4098 Erie St., Willoughby, OH

Page 3: MULTI TENANT INVESTMENT RICK FERRIS PATRICK DOWD … · Offering Summary Price $2,600,000 Reduced to $2,090,000 Down Payment $590,000 Loan Amount $1,500,000 Interest Rate/Amortization/Term

Clock tower erected in 1904 and demolished in 1967

HISTORIC PHOTO 4084 – 4098 Erie St., Willoughby, OH

Page 4: MULTI TENANT INVESTMENT RICK FERRIS PATRICK DOWD … · Offering Summary Price $2,600,000 Reduced to $2,090,000 Down Payment $590,000 Loan Amount $1,500,000 Interest Rate/Amortization/Term

PHOTOS 4084 – 4098 Erie St., Willoughby, OH

Page 5: MULTI TENANT INVESTMENT RICK FERRIS PATRICK DOWD … · Offering Summary Price $2,600,000 Reduced to $2,090,000 Down Payment $590,000 Loan Amount $1,500,000 Interest Rate/Amortization/Term

PHOTOS 4084 – 4098 Erie St., Willoughby, OH

Page 6: MULTI TENANT INVESTMENT RICK FERRIS PATRICK DOWD … · Offering Summary Price $2,600,000 Reduced to $2,090,000 Down Payment $590,000 Loan Amount $1,500,000 Interest Rate/Amortization/Term

AERIAL PLAT 4084 – 4098 Erie St., Willoughby, OH

Page 7: MULTI TENANT INVESTMENT RICK FERRIS PATRICK DOWD … · Offering Summary Price $2,600,000 Reduced to $2,090,000 Down Payment $590,000 Loan Amount $1,500,000 Interest Rate/Amortization/Term

ROAD MAP 4084 – 4098 Erie St., Willoughby, OH

Page 8: MULTI TENANT INVESTMENT RICK FERRIS PATRICK DOWD … · Offering Summary Price $2,600,000 Reduced to $2,090,000 Down Payment $590,000 Loan Amount $1,500,000 Interest Rate/Amortization/Term

DOWNTOWN WILLOUGHBY

4084 – 4098 Erie St., Willoughby, OH

Page 9: MULTI TENANT INVESTMENT RICK FERRIS PATRICK DOWD … · Offering Summary Price $2,600,000 Reduced to $2,090,000 Down Payment $590,000 Loan Amount $1,500,000 Interest Rate/Amortization/Term

RICK FERRIS PATRICK DOWD SEQUOIA REALTY CORP. President Vice President 7464 Mentor Ave., Suite 205 P: (440) 946-8600 x103 P: (216) 406-0476 Mentor, OH 44060 E: [email protected] E: [email protected] (440) 946-8600 www.SequoiaRealty.com

MULTI TENANT INVESTMENT Multifamily & Commercial 4084 – 4098 Erie St. Willoughby, OH 44094

Business Ferret Templatethebusinessferret.com/samples/Business_Ferret_sample_Engineering... · 2007 #6 DEBT FREE CASH FLOW CFBF ACTUAL $1,500,000 $3,000,000 (1,000,000) ($1,500,000)

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