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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,
President
Andrew Lichtenstein, Inc.
5770 Palisade Avenue Riverdale,
New York 10471
(800) 242-9888 or (718) 549-5999
Email: AL@LichtensteinRE.com

Make an offer to buy this property
Contact


Andrew Lichtenstein,
President
Andrew Lichtenstein, Inc.
5770 Palisade Avenue Riverdale,
New York 10471
(800) 242-9888 or (718) 549-5999
Email: AL@LichtensteinRE.com

Price
 
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:  

Attachments

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

Attachment
(click to open / enlarge)
Description
Arthur Avenue Multifamily Investment

Disclaimer

The statements, figures and information herein or provided at any time have been received from sources we believe to be authoritative, but no warranty, guarantee or representation is made as to the accuracy or completeness. Subject to errors, omissions, change of conditions, price, terms, rate, prior rental, sale, lease, financing, prior placement, withdrawal, cancellation or modification without notice. The information, including financial analysis does not constitute a representation, warranty, or guaranty of any or the numbers or information set forth herein or of any economic value attributable to the subject investment. Independent estimates of financial or economic attributes should be developed with due diligence of counsel and independent professionals before any decision is made regarding this. The materials and information do not constitute an offer or a solicitation of an offer for the purchase or sale of any securities whatsoever or in any companies affiliated herein. Furthermore, this site may contain information and press releases about and by affiliates; however, although this information was believed to be accurate as of the date prepared we hereby disclaim any duty or obligation to update such information. To the extent that any information is deemed to be a 'forward looking statement' as defined in the rules and regulations of the Securities Act of 1933, as amended, such information is intended to fit within the 'safe harbor' for forward looking information and is subject to material risk factors which may or may not be disclosed herein. We do not intend to make any investment representations about or any companies affiliated with us, or of opportunities and should not be viewed as such. Buyers/Borrowers must perform their own independent due diligence. References to square footage or age are approximate. This summary is for information only and does not constitute all or any part of an offer or contract. Buyer must verify all information and bears all risk for any inaccuracies. Broker does not warrant any inaccuracies; pricing, availability etc. is subject to change.
ANDREW LICHTENSTEIN, INC. (Licensed Real Estate Broker) Commercial Real Estate Sales and Mortgage Financing