Eatontown, NJ

Shrewsbury Arms Apartments

Overview

Situated in a secluded, park-like setting, Shrewsbury Arms Apartments is a charming community of garden apartments spread across a 24-building complex comprised of 66 one-bedroom units, 94 two-bedroom units and 1 retail store. At purchase time, Shrewsbury Arms offered an excellent valueadd opportunity with rents averaging 30% below market. Shrewsbury Township is free of rent control or stabilization, making the value-add strategy of bringing rents to market value readily attainable, with a realistic forecast for a full cash out of the principal invested via refi after a four-year hold. Monmouth County is a county located in Central New Jersey, within the New York metropolitan area and located in the central part of the state. The county ranked 38th among the highest-income counties in the United States as of 2011, placing it among the top 1.2% of counties by wealth.

Highlights

  • 24-building 2-story residential complex
  • 160 garden -style apartments
  • 66 one-bedroom units
  • 94 two-bedroom units
  • 1 retail store
  • Year Constructed: 1963
1 million
Commercial Sq. Footage
1
Residential Units
1
Properties
1
Years in business
$ 1 billion
Assets
1
States