BROOKLYN MULTIFAMILY PROPERTY FOR SALE
Listing ID:
43163698911
Last Updated:
4/11/2011
Property Type(s):
Multi-Family: Mid/High-Rise
Property Use Type:
Investment
Tenancy Type:
Multiple
Property Address:
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Brooklyn, NY 11203, US
Contact
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Price
Asking Price:
$
8,000,000
Down Payment:
$
8,000,000
Property Size
Number of Units:
100
Percent Occupied:
93
%
Property Details
Property Description:
4 Story Walk-up Apartment Building with over 100 Apartments with 365 rooms
To receive complete information with actual property address, on site property inspection, etc. Buyer must sign Non-Circumvention and Conditional Andrew Lichtenstein, Inc. 1% financing brokerage and 1% Buyer's Broker agreement.
Property Location:
Brooklyn, NY
Highlights:
· $12,660,000 REDUCED TO ONLY $8,000,000 ALL CASH, FAST ACTION REQUIRED!!
· Minimum Required Sales Price (Price is not negotiable any lower)
· This will not remain on Market for Long
· First to contract buys this great real estate investment
· Less than ONLY $73,000/Apartment Unit
· Only $785 average monthly apartment rents
Property Financials
(This Income/Expense Information is
Proforma
)
Annual Income
Analytical Calculations
Scheduled Gross Income, Annually:
$
1,055,820
Gross Rent Multiplier:
7.58
incl 7 vacant apts at projected re-rental rates
Capitalization Rate:
6
%
a.
Effective Gross Income, Annualy:
$
Annual Expenses
Analytical Calculations
Expenses per unit:
$
5,704
Real Estate Taxes
$
97,000
Insurance
$
59,000
Price per unit:
$
80,000
Water
$
63,362
Heating/Oil
$
150,000
Electric
$
16,000
Payroll/Management
$
120,000
Supplies
$
20,000
Building Repairs
$
40,000
Legal
$
5,000
b.
Total Annual Expenses:
$
570,362
Annual Net Financials
c.
Net Operating Income, Annually
$
484,458
d.
Annual Debt Service:
$
e.
Other Annual Capital Costs:
$
Pre Tax Cash Flow, Annually
$
Financing Information
This Loan is
Proposed
.
Description:
Subject to 1% financing brokerage fee
Andrew Lichtenstein, Inc. may be able to provide buyer with low rate acquisition financing
Unit Mix Information
Description
No. of Units
Square feet
Avg. mo. rent
Multifamily Property
100
$785
Property Attachments
Attachment
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Description
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(generic photo)