old cottage lane resort - loopnet...• owner's residence • ample on-site parking • on-site...

W W W . T A C M C O M M E R C I A L . C O ME X E C U T I V E S U M M A R Y

TACM Commerc ia l Rea l ty Inc2331 Route 209/Su i te 5

Sc io ta , PA 18354

Terri Mickens, CCIMBroker /Owner570 .801 .6170570 .242 .3962tmickens@ptd .netNo warranty of representation, express or implied, is made as to the accuracy of the information contained herein, and the same is submitted. Subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financingor withdrawal without notice. And any special listing Conditions imposed by our principals no warranties or representations are made as to the condition of the property or any hazards contained therein or any to be implied.

OFFERING SUMMARY

Sale Price: $720,000

Number Of Units: 11

Cap Rate: 9.37%

NOI: $67,451

Lot Size: 12.69 Acres

Year Built: 1930

Building Size: 5,733 SF

Renovated: 2010

Zoning: B-Residential Multiple

Dwelling

Market: Monroe County

Submarket: Hamilton Township

Price / SF: $125.59

PROPERTY OVERVIEWFormer resort including 8 cottages, a 5 bedroom residence with 2 bedroom attachedapartment, garage w/ apartment on 12+ acres zoned B-Residential in HamiltonTownship. Beautiful acreage with room for expansion and ideal for hosting events withprivate pond and cleared fenced area formerly used as a pasture for horses. Greatwalking trails. Zoning permits for potential expansion for additional cottages and/ortrailer homes. 5 Bedroom residence which is currently owner occupied, could serve asan Airbnb location. Fully occupied with returns priced at a 9.5% cap rate. Sellerfinancing for qualified buyers.

PROPERTY HIGHLIGHTS• Park Like Setting - Former Small Resort w/ Private Pond and Trails

• 11 Rentable Units - Potential Expansion Opportunity

• 100% Occupancy - Historical Low Vacancy Rate

• Owner's Residence

• Ample On-Site Parking

• On-Site Utilities

• Laundry Facilities - Additional Income

• Great Small Outdoor Event Setting

507 Greenview Dr , Say lorsburg , PA 18353

Old Cottage Lane Resort

MULTIFAMILY PROPERTY FOR SALE

W W W . T A C M C O M M E R C I A L . C O MA D D I T I O N A L P H O T O S

Terri Mickens, CCIMBroker /Owner570 .801 .6170570 .242 .3962tmickens@ptd .net




W W W . T A C M C O M M E R C I A L . C O MP R O P E R T Y D E T A I L S


SALE PRICE $720,000

LOCATION INFORMATION

Building Name Old Cottage Lane Resort

Street Address 507 Greenview Dr

City, State, Zip Saylorsburg, PA 18353

County Monroe

Market Monroe County

Sub-market Hamilton Township

BUILDING INFORMATION

NOI $67,451.00

Cap Rate 9.37

Occupancy % 100.0%

Tenancy Multiple

Year Built 1930

Year Last Renovated 2010

Construction Status Existing

Free Standing No

PROPERTY INFORMATION

Property Type Multifamily

Property Subtype Low-Rise/Garden

APN # 07626900302243

Corner Property Yes

Waterfront Yes

PARKING & TRANSPORTATION

Parking Type Surface

UTILITIES & AMENITIES

Central HVAC Yes




W W W . T A C M C O M M E R C I A L . C O MF I N A N C I A L S U M M A R Y


INVESTMENT OVERVIEW OAK LANE COTTAGES

Price $720,000

Price per Unit $65,454

GRM 7.6

CAP Rate 9.4%

Cash-on-Cash Return (yr 1) 11.44 %

Total Return (yr 1) $36,332

Debt Coverage Ratio 1.49

OPERATING DATA OAK LANE COTTAGES

Gross Scheduled Income $94,800

Other Income $6,000

Total Scheduled Income $100,800

Vacancy Cost $2,844

Gross Income $97,956

Operating Expenses $24,505

Net Operating Income $67,451

Pre-Tax Cash Flow $22,316

FINANCING DATA OAK LANE COTTAGES

Down Payment $195,000

Loan Amount $525,000

Debt Service $45,135

Debt Service Monthly $3,761

Principal Reduction (yr 1) $14,016




W W W . T A C M C O M M E R C I A L . C O MI N C O M E & E X P E N S E S


INCOME SUMMARY OAK LANE COTTAGES

Gross Income $97,956

EXPENSE SUMMARY OAK LANE COTTAGES

Real Estate Taxes $11,161Insurance $2,500Snow/Lawn $5,000Maintenance/reserves $2,844Garbage/Misc $1,500Sewer/Water $1,500

Gross Expenses $24,505

Net Operating Income $67,451




W W W . T A C M C O M M E R C I A L . C O MR E N T R O L L


UNIT

NUMBER

UNIT

BED

UNIT

BATH

UNIT

SIZE

(SF)

LEASE

START

LEASE

END

CURRENT

RENT

CURRENT

RENT (PER

SF)

MARKET

RENT

MARKET

RENT/

SF

SECURITY

DEPOSIT

107 1 1 $500

109 1 1 $600

111 2 1 $750

115 1 1 $625

104 1 1 $575

118 1 1 $650

121 1 1 $650

134 2 1 $500

513 2 2 $800

Home 5 3 $1,500

Garage $300

Gar-Apt 1 1 $450

Totals/

Averages

0 $7,900 $0 $0




W W W . T A C M C O M M E R C I A L . C O ML O C A T I O N M A P S


507 Greenview Dr




W W W . T A C M C O M M E R C I A L . C O MD E M O G R A P H I C S M A P & R E P O R T


POPULATION 1 MILE 5 MILES 10 MILES

Total population 1,060 24,032 101,008

Median age 43.6 41.8 41.3

Median age (Male) 43.5 41.3 40.3

Median age (Female) 43.8 42.5 42.4

HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES

Total households 393 8,625 37,161

# of persons per HH 2.7 2.8 2.7

Average HH income $76,377 $75,461 $72,277

Average house value $248,233 $246,795 $242,387

* Demographic data derived from 2010 US Census




old cottage lane resort - loopnet...• owner's residence • ample on-site parking • on-site...

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