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Updated over 6 years ago on .

User Stats

30
Posts
6
Votes
Stephanie Owens
  • Central Islip, NY
6
Votes |
30
Posts

EXCELLENT INVESTMENT/DEVELOPMENT OPPORTUNITY, LONG ISLAND CITY NY

Stephanie Owens
  • Central Islip, NY
Posted

North east corner of 40th Avenue and 9th Streets

Unit Description Unit Type Revenue LXP
Ground Floor: Grocery Store Commercial $3,500.00 1/30/21
Second Floor: 1R 2F

2R

2 Bedroom Apt 2 Bedroom Apt

2 Bedroom Apt

Rent Stabilized Rent Stabilized

Rent Stabilized

$1,900.00 $1,700.00

$1,600.00

Third Floor: 3F 2 Bedroom Apt Rent Stabilized $1,700.00
3R 2 Bedroom Apt Rent Stabilized $1,600.00
Fourth Floor: 4F 2 Bedroom Apt Rent Stabilized $1,600.00
4R 2 Bedroom Apt Rent Stabilized $1,800.00
Monthly Income $15,400.00

Annual Income:$184,800.00

Expenses:

Real Estate Taxes: $13,260.00      Water & Sewer: $7,000.00

Heat (Oil):$10,000.00

Insurance: $4,000.00 

Super: $2,500.00

Electric: (common areas) $1,400.00 

Repairs & Maintenance: $3,000.00 

Total Annual Expenses  $41,160.00

Net Operating Income:$143,640

East side of 9th Street between 40th and 38th avenue

Unit Description Unit Type Revenue LXP
Ground Floor: Construction Company Commercial $1,500.00
Second Floor: Apt 1 1 Bedroom Apt Free Market $1,500.00
Third Floor: Apt 2 1 Bedroom Apt Free Market $1,500.00
Fourth Floor: Apt 3 1 Bedroom Apt Free Market $1,500.00
Monthly Income: $6,000.00

Annual Projected Income:$72,000.00

Expenses: 

Real Estate Taxes: $7,225.00 

Electric: (common areas) $800.00

Heat (Gas):$5,000.00

Insurance: $2,000.00

Water & Sewer: $3,500.00 

Repairs & Maintenance: $1,500.00

Total Annual Expenses: $20,025.00

Net Operating Income: $51,975 for East side of 9th Street between 40th and 38th avenue

N/E Corner of 40th Avenue and 9th st- Gross Annual Income: $184,800

E/S of 9th Street bwt 40th and 38th-     Gross Annual Income: $72,000

                                Total Gross Annual Income:                          $256,800

N/E Corner of 40th Avenue and 9th st-  Annual Expense: $41,160

E/S of 9th Street bwt 40th and 38th-      Annual Expense: $20,025

                                Total Annual Expense:                              $61,1815

Net Operating Income: $195,615 Cap Rate 4.3%

Asking 4,000,000

Buyer pays 2% Commission

For Further infomation and Pictures  Call me or my Patner

Stephanie 929-379-6954

Lamont 347-964-2397

Offering