8 Units Newly Built (2003) 7.66 CAP/Projected CAP 8.4 "Balconies"

[Al Schnitzer]

(PLEASE CONTACT ME FOR COMPLETE SETUP)

2 Newly Built (2003) Corner Brick Buildings Back to Back

4 parking spots and 8 units.

Each building has 4 floors, 4 units, and 2 parking spots

1st floor 1br/1bath, other 3 floors are 3br/2bath each)

Total 8 apartments & 4 parking spots (6 3brs/2bath, 2 1brs/1bath)

Total Bedrooms: 20 Total Bathrooms: 14

Total Parking Spots: 4 Total Balconies: 4

SUMMARY INCOME & EXPENSE

Current RR = $147,160

Expenses $32,300

Net = $114,860

Asking price $1,500,000 (7.66% CAP)

 Rents are low and can be brought

up to 200k gross, 165k net

 Section 8 paying now for 3BR

$2200, 1BR $1460

 Property doesn’t need more than

some paint and minor repairs (closet

doors)

 PERFECT for condo conversion.

Each 3br has 2 full bathrooms, 1 Porch,

and each building has 2 legal parking spots

 BOTH are Corner Properties

 Walking distance to the Bronx Zoo