Cap Rate for 15 Condo Portfolio in Central NJ

[Paul Camuto]

Hi, I have 15 condos in different communities of Robbinsville, Hamilton, Ewing, Mount Laurel. I would consider them "A" class properties that have modern update and improvements. NOI is about 178K. I am looking to see in this seller's market if it would be worth selling them as a package and portfolio. Selling them individually at the market rate I would be at 2.37M but I wanted to get your opinion if I could get a premium selling them at one at say a 4 or 5% cap rate.

[John M Chludzinski]

Take the 6.5 cap all cash as is offer any day of the week - unless you are retired, and doing this as a hobby, selling one per month and don't mind the headaches of the individual listing scenario. Is there a sales commission involved in the offer? if not, definitely take it.  Closing costs with a sales commission of even 4% wipe out over $100,000 of equity.