Cap Rate
6.08%
GRM
195440
Price Per Unit
$319,667
Units
10
NOI
$174,863
Property Type
Apartments
ADDITIONAL LISTING AGENT
INVESTMENT HIGHLIGHTS
Value Add
- 10 Units
- 39% Upside
- 6.08% Cap Rate / 8.51% Pro Forma Cap Rate
- 5.57% Cash-on-Cash
- Average Rent of $1,810 vs Market Rent of $2,508 ($698+ difference on turnover)
Building Highlights
- 9 Residential Units
- 1 Commercial Space
- One-, Two- and Three-Bedroom Apartments
- 18 Storage Units
- New Water Heaters
- Brand New Windows
- Roof Replaced in 2015 & 2017
- 20 Security Cameras
- Landlord Pays for Heat, Hot Water, Water/Sewer & Electric
Convenient Transportation
- The building is approximately an 8-minute walk to the Boulevard East at 72nd St bus stop which provides a 10-minute trip into Midtown Manhattan with direct access to NYC
Broker of Record
- Patrick Forde
- License No. 2330333 (NJ)
- (866) 889-0550
- Matthews Real Estate Investment Services, Inc
- 52 Park Avenue,
Suite B5, Park Ridge NJ 07656