undisclosed NEW YORK 4 BUILDINGS Sale

undisclosed NEW YORK 4 BUILDINGS Sale

Call me for access (970) 481-0033

 $ 10,853,000.00
FOLLOW PROTOCOL TO ENGAGE THE SELLER.

4 Buildings

·       93 APARTMENTS

·       363 ROOMS

·       LAYOUT: 6/2…39/3…11/4…32/5…5/6

·       TOTAL RENT ROLL: $1,329,000

·       MONTHLY RENT PER APARTMENT: $1,190.86

·       PER ROOM: $305.10

·       TOTAL MORTGAGES: $6,315,000 (Blended interest rate equals 3.32%)

·       PRICE PER UNIT: $112,903 PRICE PER ROOM: $28,953

CAP RATE: 6.47% CASH ON CASH RETURN: 9.06%

Buildings 1 & 2:

      

DESCRIPTION:

2 /5 story renovated walk-up apartment building each having 11 apartments

The buildings were gut renovated in 1990. Gas Heat controlled by computer.

1 building has individual heating and hot water units in each apartment. They

are landlord controlled by computer. Five of the tenants pay for their own heat.

The other building has 6 series connected gas burners

LAYOUT: 22 / 5 room apartments…110 rooms

INCOME                                            $417,744

ESTIMATED EXPENSES:

·       R.E. TAXES:                                     $ 55,899

·       WATER & SEWER:                        $ 20,900

·       FUEL:                                                $ 25,000 (see description)

·       SUPER: Free apartment only

·       ELECTRIC:                                      $ 6,000

·       INSURANCE:                                   $ 14,000

·       MANAGEMENT-                             $ 12,532

·       REPAIRS & MAINT.:                      $ 11,000

Total:                                                  $ 145,331

NET OPERATING INCOME          $272,413

DEBT

1ST Mortgage in the amount of $1,775,000 pays $ 8,196.37 monthly for interest and amortization at 3.5 % interest. Due July 31, 2017 + 5 year option. Pre-payable with a penalty. the mortgage also calls for escrows.

Building 3                          

       

SIZE: 50’ x 95’ built 50’ x 83’…19,475 SF Building Area

DESCRIPTION: 5 story walk-up apartment building.

LAYOUT: 21 / 1 BR…5 / 2 BR + 1 / 1BR super’s apartment on the 3rd floor.

Total: 27 apartments…86 rooms

INCOME                                              $ 314,217

ESTIMATED EXPENSES:

·       R.E. TAXES:                             $ 42,886

·       WATER & SEWER:                  $  25,493

·       FUEL:                                       $ 60,000 (oil)

·       SUPER: free apartment + repair labor

·       ELECTRIC:                                $ 4,000

·       INSURANCE:                           $ 15,000

·       MANAGEMENT-                     $ 9,426

·       REPAIRS & MAINT.:                $ 15,714

Total:                                                  $ 172,519

NET OPERATING INCOME                  $ 141,698

DEBT-1st MORTGAGE:

$1,440,000 for 5 years due August 15, 2018. Pays $6,268.61 per month

including interest at 3.25%. Right to extend for another 5 years .

Building 4

SIZE: 110.5’ x 98’ built 98’ x 98’5…47,300 SF Building Area

DESCRIPTION: 5 story walk-up apartment building having two separate wings

LAYOUT: 6/Studios…17 / 1BR…6 / 2 BR…10 / 3 BR…5 / 4 BR

Total: 44 Apartments…167 Rooms

INCOME                                              $ 597,180

ESTIMATED EXPENSES:

·       R.E. TAXES:                             $ 67,848

·       WATER & SEWER:                  $ 42,490

·       FUEL:                                       $ 95,000 (oil)

·       SUPER:                                    $ 22,360

·       ELECTRIC:                                $  5,000

·       INSURANCE:                           $ 25,000

·       MANAGEMENT:                     $ 17,915

·       REPAIRS & MAINT.:                $ 23,887

Total:                                                  $ 299,800

NET OPERATING INCOME                  $ 297,380

DEBT-1st MORTGAGE: $3,100,000 for 5 years due September 15, 2018. Pays $13,491.40 per

month including interest at 3.25%. Right to extend for another 5 yearsVisit my website by clicking the link below and if you like what you see, call me for access.

THIS IS AN OFF MARKET ASSET SALE AND MUST STAY OFF MARKET, 
PLEASE DO NOT LET THIS GO VIRAL.

TO MOVE FORWARD: MUST HAVE NCND/NDA SIGNED WITH US.

• BUYER AND BUYER'S AGENT/CONSULTANT SELLER ASSET SPECIFIC NCND AND MASTER FEE AGREEMENT
•  BUYER SIGNED ASSET SPECIFIC LETTER OF INTENT.
•  BUYER'S COMPANY WEBSITE OF RETAIL CENTERS IN THEIR PORTFOLIO. 
• THE BUYER MAY PROOF UP TO THE SELLERS SIDE DIRECTLY.
• BUYER IS ENCOURAGED TO PROVIDE A PROOF OF FUNDS WITH THIS BUYER'S PACKAGE. 
•  Call for access (970) 481-0033