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10016 (New York, NY)

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MLS# 477850
PROPERTY DESCRIPTION: 
The building is in excellent condition and has recently had a ton of work done to it in the past few years, the owner has put in over $1MM in improvements.Along with the excellent location and unique layout, this could be a slam dunk for any of you that have investor clients looking for something of this nature.On top of that, there is FULL OCCUPANCY and even a waiting list to get into the building!There are three sets of numbers that I will be including: the "actual" numbers and two different sets of "projected" numbers.Currently, the owner lives in a decked-out triplex in the building, and also uses an additional studio, so the "actual" numbers are a bit skewed for those of you with clients not looking to live in the building AND rent the rest.We are projecting that the additional studio could get a minimum of $1,800/month, and the Triplex could most likely fetch about $11K/month, so the projected NOI and ROI are based on those estimates.Below, you can find all of the details.CURRENT (ACTUAL) Operating Expenses (Actual): $67,750/yr Gross Income (Actual): $172,740/yr NOI (Actual): $104,990/yr ROI (Actual): 1.75% As I explained above, the owner lives in the sick triplex in the building (which has outdoor space with a hot-tub!), and also uses an additional studio as well.The result is higher operating expenses, which in turn means lower NOI and ROI There are 6 apartments currently being rented, and ALL ARE FREE MARKET!> Projected (If just renting the studio) Operating Expenses (Projected if just renting studio): $66,550/yr Gross Income (Projected if just renting studio): $194,340/yr NOI (Projected if just renting studio): $127,790 ROI (Projected if just renting studio): 2.13% In this instance, there would be 7 FREE MARKET APARTMENTS The studio was recently renovated, so all of the finishes are brand new!Projected (If renting BOTH studio AND Triplex) Operating Expenses (projected rent with studio and Triplex): $61,750/y Gross Income (projected rent for studio and Trip
FEATURES:
Architecture Style: Other
Roof Type: Unknown
10016 (New York, NY) Real Estate & Homes for Sale - 1 Listing Found
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