Embed Size (px)
Citation preview
RICHARD TORRES
PRINCIPLE BROKER
718-709-0610
LISSETTE FELICIANO
MARKETING
718-709-0610
JENNIFER TORRES
ANALYST
718-709-0610
JESSIE L. SANTOS
ASSOCIATE
718-709-0610
JESSE CIROLLI
DIRECTOR
718-709-0609
3988 – 3990 Bronxwood Avenue | 2
1 | EXECUTIVE SUMMARY PAGE 3
2 | PROPERTY OVERVIEWPAGE 4 - 5
3 | PRO FORMA & METRICSPAGE 6-8
4 | PROPERTY PHOTOS PAGESPAGE 9 -11
5 | TRANSPORTATION
PAGE 12
6 | CONFIDENTIALITY & DISCLAIMER
PAGE 13
Table of Contents
EXCLUSIVE LISTING AGENT
CAYCE ORTALE
DIRECTOR
718-269-7323
Executive SummaryR.A.S. Equity Partners, as exclusive agent for individualownership, is pleased to offer for sale 1066 ProspectAvenue, Bronx, N.Y. 10459 (the “Property”), a 3 & 1 storywalkup mixed-use building with 2 apartments and up to 3commercial with approximately 10,838 SF. The propertyis situated between East 166th Street & East 165th Street.Near the 2 train station (Prospect Avenue Station)in theFoxhurst section.
1066 Prospect Avenue offers investors a immediateupside opportunity. The property is current 75% vacantand offers the potential buyer the opportunity to capturemarket rate rents for the area. Additionally, the propertieslocation offers its retail component a wide array ofcommercial tenant desirability's. 1066 Prospect Avenueoffers immediate unlocked potential with the retailcomponent offering 2 additional off space for immediateoccupancy.
1066 Prospect is a new construction built in 2015 and offers great long-term potential for a any investor in todays climate.
Asking: $2,900,000
Property Overview
1066 PROSPECT AVENUE
NEWLY CONSTRUCTED MIXED USE BUILDING
2 Very Large Residential Units: 4 bedrooms each3 Commercial Units: Storefronts
Esthetic: ModernFeatured: Thermo Roofing
Lot SF: 10,838 SQ FTBlock/Lot: 2691.22
Zoning: R6Taxes (2019): $42,565
Pro Forma Rent Roll
Commercial Rent Roll
Yearly Total: $99,000.00
Pro-Forma Residential Rent Roll
Unit #1: $42,000.00 ($3,500 a month)
Unit #2: $42,000.00 ($3,500 a month)
Yearly Total: $84,000.00
Combined Monthly Income: $15,250.00Combined Yearly Income: $183,000.00
Store Front #1: $34,800.00
Store Front #2: $28,000.00
Store Front #3: $36,200.00
Commercial SF is calculated at a market rate of $30.00 a foot.
Retail Sf is approximately 3,286 without basement. **
Income/Expense
Total Income: $183,000
Taxes 2019$42,565
Water/Sewage$2,600 - Resi
Fuel (Gas)$ Tenants
Insurance$6,200
Utilities$3,200
Repairs$1,800
Payroll$7,800
Total Expenses: $64,165
Estimated Net Operating Income:
$118,835
Metrics
1066 Prospect Avenue
All residential tenants are individually metered and each have their own heating
and hot water systems.Commercial tenants are individually
metered as well.
Asking Price
$2,900,000
*First Mortgage$1,025,000 with BCB Community Bank
Pro-forma Metrics
Avg. Rent - Apt / Room $3,500/$583
Avg. Rent PSF- Residential $25.50
Avg. Rent PSF- Commercial $19.69
Price / SF $267.58
Gross Rent Multiplier 15.85
Cap Rate (%) 4.1
All Pro-forma metrics are based on near by comparable and shall not be considered as accuracy for such said subject property. All information shall be verified by interested
parties.**
Property Photos Exterior
Property Photos Interior
Property Photos Exterior
Newark International AirportLaguardia Airport
JFK AirportWhite Plains Airport
*Driving & Mass Transportation to all airports in the tri state area.
BX 17BX 21
BX 4 and/or 4A
The information contained in this listing (“Listing”) is confidential, furnished solely for the purpose of review by a prospective purchaser of the following
property: R.A.S. Equity Partners and is not to be used for any other purpose or made available to any other person without the express written consent of
R.A.S. Equity Partners or Owner. The material is based in part upon information supplied by the Owner and in part upon information obtained by R.A.S.
Equity Partners from sources it deems reliable. Summaries of documents are not intended to be comprehensive or all inclusive, but rather only an outline of
some of the provisions contained therein. No warranty or representation, expressed or implied, is made by Owner, R.A.S. Equity Partners or any of their
respective affiliates, as to the accuracy or completeness of the information contained herein or as to engineering or environmental matters. Prospective
purchasers should make their own projections and conclusions without reliance upon the materials contained herein and conduct their own independent due
diligence, including inspections.
This Listing contains selected information pertaining to the Property and does not purport to be all-inclusive or to contain all of the information a prospective
purchaser may desire. Graphics are only a representation of property features, are not to scale and are subject to change. All financial projections are provided
for general reference purposes only and are based on assumptions relating to the general economy, competition and other factors beyond control and are,
therefore, subject to material change or variation. An opportunity to inspect the Property will be made available to qualified prospective purchasers.
In this Listing, certain documents, including leases and other materials, are described in summary form. The summaries do not purport to be complete or
necessarily accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected to
independently review all documents. This Listing is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not
constitute a recommendation, endorsement or advice as to the value of the Property by R.A.S. Equity Partners or Owner. Each prospective purchaser is to rely
upon its own evaluation as to the advisability of purchasing the Property described herein.
Owner and R.A.S. Equity Partners expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the
Property and/or to terminate discussions with any party at any time with or without notice. Owner shall have no legal commitment or obligation to any
purchaser reviewing this Listing or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully
executed, delivered, and approved by Owner and any conditions to Owner’s obligations there under have been satisfied or waived. R.A.S. Equity Partners is
not authorized to make any representations or agreements on behalf of Owner.
This Listing is the property of R.A.S. Equity Partners and may be used only by parties approved by R.A.S. Equity Partners and Owner. The Property is
privately offered and, by accepting this Listing, the party in possession hereof agrees (i) to return it to R.A.S. Equity Partners immediately upon request of
R.A.S. Equity Partners or Owner and (ii) that this Listing and its contents are of a confidential nature and will be held and treated in the strictest confidence.
No portion of this Listing may be copied or otherwise reproduced or disclosed to anyone without the prior written authorization of R.A.S. Equity Partners and
Owner. The terms set forth above apply to this Listing in its entirety.
Confidentiality & Disclaimer
