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Ultra High 9% to 162% ROE- 2015 Arthur Avenue, Little Italy Bronx, NY

Listing ID: 88
Last Updated: 05 29, 2018
Property Type(s):
Property Use Type:
Contact : Andrew Lichtenstein,
Andrew Lichtenstein, Inc.
5770 Palisade Avenue Riverdale,
New York 10471
(800) 242-9888 or (718) 549-5999

Make an offer to buy this property

Andrew Lichtenstein,
Andrew Lichtenstein, Inc.
5770 Palisade Avenue Riverdale,
New York 10471
(800) 242-9888 or (718) 549-5999

Asking Price: $ 958,888Opinion of Value: $ 988,773
Down Payment: $ 0Year Built: 2007
Property Size
Existing Built Square Footage: 3,547 Sq.FtLand Plot Lot Size: 2,348 Square Feet
Lot Frontage: 26Lot Depth: 90
Number of Units: 3Percent Occupied: 100 %
Investment Type:  


1-Lichtenstein 4Sale 2015 Arthur Ave Bronx-.pdf

Property Details

Property Description :

A Three-story 3,547 Square foot brick walk-up apartment building with Two 3 Bedroom and One 2 Bedroom Residential Apartments, plus 980sf below grade full basement with 2 piece bathroom. Each of the 3 Bedroom unit has a Balcony. Gross total floor area of 4,527 Square foot and 8,077 Maximum potential buildable square feet.

Property Location :

East Tremont

Highlights :

Full Below Ground Basement with 2 piece Bathroom. Buyer can Rent as 1 Bedroom Basement Apartment.
Close to MTA 1, 2, 36, 40, 41, 42 Buses. Easy Transfer to the 4, B & D Subways.
Close to the Tremont Ave Shopping Area.
421A Tax Abatement with 14 years remaining.

Property Financials

  Annual IncomeAnalytical Calculations
Scheduled Gross Income, Annually:$ 68,400Gross Rent Multiplier:14
Less Vacancy & Collection Loss Assumption:$ 0Capitalization Rate:6.1 %
Reimbursement:$ Cash on Cash Return:5.8 %
Other Income:0 
a. Effective Gross Income, Annualy: $ 68,400 
  Annual ExpensesAnalytical Calculations
Management: Self Managed$ 0Expenses per unit:$ 3,462
Maintenance: Estimated$ 2,000Expenses per square foot:$ 2.93
Taxes:$ 2,385Price per unit:$ 319,629
Insurance:$ 2,000Price per square foot (building):$ 270
Heating: Gas CAM as per Seller$ 1,000Price per area of land plot:$ 408
a. Total Annual Expenses: $ 10,385 
Annual Net Financials
c. Net Operating Income, Annually$ 58,015
d. Annual Debt Service:$ 0
e. Other Annual Capital Costs:$ 0
Pre Tax Cash Flow, Annually$ 0

Financing Information

This Loan is Proposed
Principal:$ 671,222
Interest Rate:4.63 %
Loan Amortization:30 Years
Loan Term:5+5+5+5+5+5+5 Years
Annual Debt Service:$ 41,436
Description:FIXED FOR 5 YEARS Plus 5+5+5+5+5 rollover terms with 30 YEAR AMORTIZATION SCHEDULE. Each resets at 225bps over 5 year FHLB at the start of each term

Tenant Information

Tenant NameLease End (i.e. mm/dd/yyyy)square feet
Lease and Escalation:

Property Attachments

(click to open / enlarge)
Arthur Avenue Multifamily Investment


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ANDREW LICHTENSTEIN, INC. (Licensed Real Estate Broker) Commercial Real Estate Sales and Mortgage Financing