Newest LichtensteinRE Exclusive Property for Sale › d2 › GfCmjYzY3tsl9qRWl8I1Udi2... · 2018-07-19 · ABSOLUTELY ARTHUR AVENUE 1/2 MILE TO ARTHUR AVENUE LITTLE ITALY, BRONX NY

2015 Arthur Avenue, Bronx NY 10457Newest LichtensteinRE Exclusive Property for Sale

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LichtensteinREAndrew Lichtenstein Inc., Licensed Broker

[email protected](800) 242-9888

5770 Palisade AvenueRiverdale, NY, 10471

Property Introduction

LichtensteinRE is Proud to Introduce its Newest Exclusive Property for Sale2015 Arthur Avenue, TremontBronx, NY, 10457

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a n a l y s i sFINANCIAL ANALYSIS

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ABSOLUTELY ARTHUR AVENUE 1/2 MILE TO ARTHUR AVENUE LITTLE ITALY, BRONX NYULTRA High Projected ReturnsBeautiful 3 Story 3 Unit Multifamily Building Bronx!!FOR SALE: MINIMUM PRICE SELLER REQUIRES $958,888 6.05% Cap Rate Current Rented Income Long Term Projection

A) Actual Cap Rate from seller at closing: Return On Investment ! 6.1% 9.6%C1) ROE w/Deprec: 9.0% 12.5%

5.8% 17.4%D1) ROE w/Deprec:

25.2% 36.8%

33.3% 245.7%J5) ROE w/Deprec: 122.5% 222.6%

True Initial Cash On Cash Return on Equity Investment Including Net Income PLUS Amortization Principal Reduction PLUS Depreciation Tax Deduction Benefits: (NOIADS Plus Amortization Principal Reduction) Divided by Investment) (Projected Estimate Based On Above Information Before Closing Costs, Capital Improvements, and Prepayment Penalty, If Applicable, etc. Subject to Change & Error)



D) Initial Cash On Cash Return on Equity Investment:(Cash Flow Divided by Equity) (Projected Estimate Based On Above Information Before Closing Costs, Capital Improvements, Vacancy, Collection Loss, etc. Subject to Change & Error)

B) Projected Cash On Cash Return on Equity Investment:(Projected Resale Profit Divided by Cash Equity Required Over Proposed Financing Based On Above Information Before Closing Costs, Capital Improvements, Vacancy, Collection Loss, etc.)

Property Address: 2015 Arthur Avenue $150PSF Buildable

City, State, Zip: Bronx, New York 10457 80% of Replacement Value

East Tremont Section of the BronxLocation: (Between East 178th Street and East 179th Street)

Block:3068 Lot:32 Year Built 2007

Building Class: Three Family (C0) Zoning: Land Size: 26.08' Wide x 90' Deep 2,348 Square Feet

Building Dimensions: 20' x 59' 1,180 Square Feet Base of Building Dimensions

Lot Size Land Acreage: 2,348Maximum Potential Buildable Usable Floor Area Square Feet 8,077TOTAL BUILDING Square Footage: 3,547

# of Each APARTMENT LAYOUTS: Value Each Apartment Layout Comparable Quality Rental Apartments Rooms Baths

Total # of Rooms Total Monthly Market Value Of Each Apartment Unit Layout

2 3 Bedroom 2 Bathrooms Apartments $2,200 5.0 2.00 10 $4,400

1 2 Bedroom 1 Bathroom Apartment $1,700 4.0 1.00 4 $1,700

3 TOTAL Apartments On Owner's Rent Roll Listed As Rented With # of Rooms 14 $6,100

7 TOTAL NUMBER OF Apartments As provided by owner/seller Annually $73,20014 TOTAL NUMBER OF ROOMS $1,525

Layout Summary: 2 (3 Bedroom) and 1 (2 Bedroom) Apartments Plus full Below Grade Finished Basement Unit. 14 Rooms Total.

DESCRIPTION: A Three-story 3,547 Square foot brick walk-up apartment building with Two (3) Bedroom and One (2) Bedroom Residential Apartments, plus 980sf+/- below grade full basement with 2-piece bathroom. Each of the 3 Bedroom unit has a Balcony. Gross total floor area of 4,527 Square foot and 8,077 Maximum potential buildable square feet.

Market Rate Average Apt. Rent/Month

R7-1

Financial Overview A B

PROJECTED INCOME FULLY RENTEDSquare Feet

+/-

Current Rented Income

Long Term Future PROFORMA Projected Potential Gross

Annual Income at Market Value

# of Apartments RESIDENTIAL INCOME:

3 Residential Apartments Actual Legal Existing Tenants Apartments 3,547 $68,400 $86,400

1Projected Income Full Below Grade Illegal Basement Apartment if Utilized by Buyer AFTER CLOSING. Apartment 980 $0 $15,600

$1,425 $2,400

Residential Rent Per Square Foot Per Year $19.28 $24.36Square Feet

4 TOTAL GROSS ANNUAL RENTAL INCOME ACTUAL & PROJECTED ALL SOURCES: $68,400 $102,000ORDINARY OPERATING EXPENSES: (Estimated)Expenses: (As provided by owner) (Ordinary Operating Excluding Capital Expenses & Improvements)* Real Estate Taxes 2017/2019 (25 year 421A tax Abatement. Expires 2032) $2,385 $2,385Water & Sewer: as per Seller $1,000 $1,000Insurance : as per Seller $2,000 $2,000Heating Fuel: Gas CAM as per Seller $1,000 $1,000Janitorial: Estimated for Visiting Super $1,000 $1,000Repair & Maintenance: Estimated $2,000 $2,000Electric: Estimated $1,000 $1,000TOTAL ORDINARY OPERATING EXPENSES: (Estimated) $10,385 $10,385Expenses Per Unit Per Year ($3,462) ($3,462)Expenses Per Square Foot Per Year ($2.93) ($2.93)Expenses As Percentage of EGI 15% 10%

$58,015 $91,615NET Ordinary Operating INCOME Projected Annually Available For Debt Service: NABDS (Based On The Above Information Before Vacancy, Collection Loss, Capital Improvements, Replacement Reserves, TILC, etc.)

Average Rent Per Month

A)PRICE Seller will Accept All Cash Acquisition Cost 3,547 Sq. Ft. $958,888 $958,888GRM = Gross Rent Multiplier BARGAIN 14.02 9.40Price Per Unit $319,629 $319,629Price Per Square Foot $270 $270Cap Rate HUGE RETURNS!!!! 6.05% 9.55%

B) PROJECTED POSSIBLE POTENTIAL FUTURE RESALE PROFITABILITY:Projected Resale Value of Property: Cap Rate: 5.50% $1,054,818 $1,665,727

$95,930.18 $706,839Projected Resale Profit Markup: (Projected Estimate Based On Above Information Before Closing CostHUGE RETURNS!!!! 10% 74%

33% 246%C) True Value To Efficient Hands On Self Managed Buyers, but All Lenders, Appraisers will not value it based on the following:

Add Back Vacancy, Collection, TILC, Replacement Reserves & Management Fee $0 $0$58,015 $91,615

6.1% 9.6%$27,895 $27,895

Total Initial Return NOIADS Plus Depreciation Tax Deductions $85,910 $119,510

C1) ROE w/Deprec: 8.96% 12.46%

PRICING METRICS: POTENTIAL VALUE TO BRING PROPERTY TO 100% RENTAL:

Projected Cash On Cash Return on Equity Investment:(Projected Resale Profit Divided by Cash Equity Required Over Proposed Financing Based On Above Information Before Closing Costs, Capital Improvements, Vacancy, Collection Loss, etc.)

NET INCOME CURRENT PROJECTED (Estimate Based On Above Information Before Closing Costs, Capital Improvements, Vacancy, Collection Loss, etc.)

Cap Rate All Cash Purchase; Cash On Cash Return On Investment (Projected Estimate Based On Above Information Before Closing Costs, Capital Improvements, Vacancy, Collection Loss, etc.)

Projected Resale Profit: (Projected Estimate Based On Above Information Before Closing Costs, Capital Improvements, Vacancy, Collection Loss, etc.)

Depreciation Annual Tax Deduction Benefit As An Add Back to Determine Total Return Benefits Straight Line 27.5 Years After Deducting 20% of Purchase Price For Land Value


D)Optional Possible PRE-APPROVED FINANCING offered via 1% MORTGAGE BROKER FEE to ANDREW LICHTENSTEIN, INC. at closing.5 Year FHLBNY Index Yield 2.58% As of Date: 3/28/2018 subject to change until rate locked.

Spread 2.05%

FIXED INTEREST RATE: 4.63%Amortization Schedule in Years 30 A B

$58,015 $91,615$671,222 $671,222

Loan to Purchase Price 70% 70%($41,436) ($41,436)

Rate Constant: [Formula: Annual Debt Service P & I Divided By Mortgage Amount Borrowed] 6.17% 6.17%DSCR = Debt Service Coverage Ratio [Formula: NABDS/Annual Debt Service] (1.40) (2.21)Debt Yield: [Formula: NABDS/Lender's Proposed First Mortgage] 8.64% 13.65%LTV (Estimated Based on Cap Rate PROJECTED RESALE VALUE, & I&E Above): 64% 40%

$16,579 $50,179

$287,666 $287,666

6% 17%

D2)Amort. Add Back Principal Reduction Amortization Equity Buildup: $10,581 $10,581$27,895 $27,895

Total Initial Return NOIADS Plus Depreciation Tax Deductions & Amortization $72,369 $105,969D1) ROE w/Deprec & Amort:

25.16% 36.84%

NET Ordinary Operating INCOME Projected Annually Available For Debt Service: NABDS (Based On The Above Information Before Vacancy, Collection Loss, Capital Improvements, Replacement Reserves, TILC, etc.)



First Mortgage Offer Proposed by Lender of Mortgage Broker Andrew Lichtenstein, Inc.

Annual Debt Service Principal & Interest Payments: (Projected Estimate Subject to Rate Lock, Changing Rates, Terms, Withdrawal & Error)

CASH FLOW NET INCOME AVAILABLE AFTER DEBT SERVICE: NAADS (Projected Estimate Based On Above Information Before Closing Costs, Capital Improvements, Vacancy, Collection Loss, etc. Subject to Rate Lock, Changing Rates, Terms, Withdrawal & Error)

Cash Equity Required to Remain Invested Above The Projected Cost Basis Above the Proposed Financing Herein: (Projected Estimate Based On Above Information Before Closing Costs, Capital Improvements, Vacancy, Collection Loss, etc. Subject to Change & Error)

Initial Cash On Cash Return on Equity Investment:(Cash Flow Divided by Equity) (Projected Estimate Based On Above Information Before Closing Costs, Capital Improvements, Vacancy, Collection Loss, etc. Subject to Change & Error)

FIXED FOR 5 YEARS Plus 5+5+5+5+5 rollover terms with 30 YEAR AMORTIZATION SCHEDULE. Each resets at 225bps over 5 year FHLB at the start of each term.

POSSIBLE? PROPOSED PERMANENT FINANCING (Subject to lender approval & closing.)

J2)

30 Year Constant US Treasury Index Yield 3.03% As of Date: 3/29/2018 Subject to change & final approval until rate locked.Spread 1.85%

FIXED INTEREST RATE: 4.875%Amortization Schedule in Years 30 Proposed Permanent Takeout Financing. Rate reflects what it would have been if it had close

$925,327Estimated LTC Loan to Cost Basis of Buyer/Builder/Developer: 96.5% 87.7%

NOI BDS: $58,015 $91,615

J2) DS:($58,763) ($58,763)

Rate Constant: [Formula: Annual Debt Service P & I Divided By Mortgage Amount Borrowed] 6.35% 6.35%DSCR = Debt Service Coverage Ratio [Formula: NABDS/Annual Debt Service] 0.99 1.56

Debt Yield: [Formula: NABDS/Lender's Proposed First Mortgage] 6.27% 9.90%

LTV (Estimated Based on Cap Rate PROJECTED RESALE VALUE, & I&E Above): 88% 56%

NOI ADS:($748) $32,852

J2)

J2)$33,561 $33,561

J2) ROI: -2% 98%J3)Amort. $13,962 $13,962Deprec. $27,895 $27,895

J4) $41,109 $74,709

J5) ROE w/Deprec & Amort:

122% 223%

Add Back Principal Reduction Amortization Equity Buildup:

NET INCOME AFTER DEBT SERVICE From Proposed New Financing: NOI ADS: (Projected Estimate Based On Above Information Before Closing Costs, Capital Improvements, and prepayment penalty if applicable etc. Subject to Rate Lock, Changing Rates, Terms, Withdrawal & Error)

UP TO 96.5% MAXIMIMUM LTC OWNER OCCUPIED PRIMARY RESIDENCY (or first time home buyer, or second home where first home is over 100 miles away) POSSIBLE FINANCING ASSUMING PURCHASE VIA HIGHEST LTV ACQUISITION FINANCING AND REHAB FINANCING BY A PRIMARY OWNER OCCUPANT WITH SATISFACTORY PERSONAL CREDIT (700 FICO) AND PERSONAL GUARANTY WHO RENTS OUT THE OTHER UNITS: (After a period of time satisfactory to the lender these numbers reflect buyer moving out and renting out thee owners unit.)Optional Possible Future ReFinancing After Completion of Property via 1% MORTGAGE BROKER FEE to ANDREW LICHTENSTEIN, INC. at closing. PAR 0% to lender.

FIXED FOR 30 YEARS with 30 YEAR AMORTIZATION SCHEDULE SELF LIQUIDATING

Cash Equity Required to Remain Invested Over And Above Proposed New Financing Herein: (Projected Estimate Based On Above Information Before Closing Costs, Capital Improvements, and prepayment penalty if applicable, etc. Subject to Change & Error)

ROI: Initial Cash On Cash Return on Investment With Proposed New Financing:(Cash Flow Divided by Equity Investment) (Projected Estimate Based On Above Information Before Closing Costs, Capital Improvements, and Prepayment Penalty If Applicable etc. Subject to Change & Error)

True Initial Cash On Cash Return on Equity Investment Including Net Income PLUS Depreciation & Amortization Principal Reduction: (NOIADS Plus Amortization Principal Reduction) Divided by Investment) (Projected Estimate Based On Above Information Before Closing Costs, Capital Improvements, and Prepayment Penalty, If Applicable, etc. Subject to Change & Error)


Maximum Estimated Proposed Takeout Permanent First Mortgage Financing AFTER Buyer Buys, Closes, lives there for lender's minimum time then Rents Up The Property, that may be available to qualified buyer via commercial mortgage broker Andrew Lichtenstein, Inc..

Estimated As Completed Loan To Future Value As a Stabilized Rental Property:

NET INCOME Projected Before Debt Service Annually: NOI BDS (Based On The Above Information Before Capital Improvements, and prepayment penalty if applicable etc.)

RETURN ANALYSIS PROJECTED AFTER CLOSING OF PURCHASE, PROPOSED FINANCING FOR PROPERTY ACQUISITION, REHAB/RENOVATION FINACNING & COMBINED TAKEOUT PERMANENT MORTGAGE FINANCING AS A PARTIALLY OWNER O

Debt Service Principal & Interest Payments Annually: (Projected Estimate Subject to Rate Lock, Changing Rates, Terms, Withdrawal & Error)

TRUE INITIAL TOTAL RETURN: NOIADS PLUS AMORTIZATION PRINCIPAL REDUCTION From DEBT SERVICE: (Projected Estimate Based On Above Information Before Closing Costs, Capital Improvements, and Prepayment Penalty If Applicable, etc. Subject to Rate Lock, Changing Rates, Terms, Withdrawal & Error)

Highlights, Notes, Remarks, Comments, Conditions:Notes, Remarks, Comments:● Close to the Tremont Ave Shopping Area. ● 421A Tax Abatement with 14 years+ remaining. ● Close to MTA 1, 2, 36, 40, 41, 42 Buses. Easy Transfer to #4, B & D Subways. ● Full Below Ground 980+/-Square Foot Basement with 2 Piece Bathroom. Buyer can Rent as 1 Bedroom Basement Apartment.

Buyer Cobrokers shall receive 25% of the Exclusive Seller's Brokerage Fee when Broker is paid at closing.

To be removed from this list just call 800-242-9888, fax or email REMOVE and tell us the fax number or email address this was sent to, or Click Here

Buyer must Submit Buyer Bid Offer Form to obtain and schedule inspection.

Conditions of Sale: All Cash. Unconditional agreement of sale to be signed by buyer upon completion of buyer’s due diligence with 10% non-refundable deposit closing in “As Is” condition, subject to any and all violations, without any contingencies except good marketable insured title at closing.

Contact Seller's Exclusive Broker ONLY: Andrew Lichtenstein (800)242-9888 [email protected] Do Not circumvent Broker. No site access without Broker appointment.This opportunity is limited and restricted to a single Institution or Accredited Investor. The statements, figures and information including financial analysis regarding this opportunity, business, affiliates, or affiliated matters or any of the numbers or of any economic value attributable to the subject investment et al etc. herein or provided hereafter at all times are received from sources believed to be reliable and authoritative, but no representation, warranty, or guarantee is made, express or implied or is to be relied upon, as to its accuracy, correctness or completeness and all is subject to errors, inaccuracies, omissions, withdrawal, cancellation, modification, constantly changing conditions, price, terms, rate, availability, prior sale, lease, rental, occupancy, vacancy, collection, arrears, approval, closing, financing, placement or other conditions, etc. all without notice and we hereby disclaim any duty or obligation to update such information. As with any real estate or business transaction, the principle of caveat emptor applies, and anyone considering this opportunity must perform their own independent due diligence investigation and personally vet anything related to herein verify all information and bear all risk for any inaccuracies, error, omission etc. Independent estimates of business, financial, investment or economic attributes should be developed with due diligence of and are advised to be represented by legal counsel and independent professionals before any decision is made regarding this. References to square footage or age are approximate, or estimated. This summary is for information only and does not constitute all or any part of an offer or contract. The materials and information shall not constitute an offer or a solicitation of an offer for the purchase or sale of any securities whatsoever or in any business affiliated herein, nor shall there be any sale of securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. This is not an offering, we are not licensed to solicit or sell securities. An offering may only be made by means of a prospectus supplement and accompanying base prospectus or confidential Private Placement Memorandum. To the extent that any information is deemed to be a 'forward looking statement' as defined in the rules and regulations of the Securities Act of 1933 or of the United States Private Securities Litigation Reform Act of 1995, as amended, such information is intended to fit within the 'safe harbor' provisions for forward looking information and is subject to material risk factors which may or may not be disclosed herein. Actual results may differ from expectations, estimates and projections and, consequently, you should not rely on these forward looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. We, and any business affiliated with us, do not intend to make any investment representations about opportunities and should not be viewed as such. This message is for the named person's use only. This is the product of confidential proprietary information from Andrew Lichtenstein, Inc. whom you must pay, and protect that same is paid and not circumvented. It may contain sensitive and private proprietary or legally privileged information. No confidentiality or privilege is waived or lost by any erroneous transmission. If you are not the intended recipient, please immediately delete it and all copies of it from your system, destroy any hard copies of it and notify the sender. You must not, directly or indirectly, use, disclose, distribute, print, or copy any part of this message if you are not the intended recipient. Unless otherwise stated, any pricing information given in this message is indicative only and does not constitute an offer to deal at any price quoted. Any reference to the terms of executed transactions should be treated as preliminary only and subject to our formal written confirmation.

7/19/2018

MULTIFAMILY RENT ROLL

Property Address Being Sold: 2015 Arthur Avenue

City, State, Zip: Bronx NY 10457# of Residential Units 3

# of Commercial Units 0 +Total # of Units: 3 =

# of Vacant Units: 0 0.00% Vacancy Rate# of Occupied Units: 3 100.00% Occupancy Rate

UNIT # TENANT NAME Residential CURRENT

Monthly Rent NOW Projected Rent at

Market ValueAvg. Square

Footage

# BEDROOMS

# BATHS

# of ROOMS

Status (Rent Registration with

DHCR)(RC, RS, FMDecontrolled

Destabilized Free Market)

1 $1,700.00 $2,200.00 1,182 2 1 4FREE

MARKET

2 $2,000.00 $2,500.00 1,182 3 2 5FREE

MARKET

3 $2,000.00 $2,500.00 1,182 3 2 5FREE

MARKET

Basement Projected Illegal Basement Unit $0.00 $1,300.00 1 1 34 Total $5,700.00 $8,500.00 3,546 9 6 17

Monthly Residential Scheduled Rent $5,700.00 $8,500.00

$5,700.00 $8,500.00# of Apartments of Each Layout

Bed- Rooms Baths

Rooms Per Unit

Total # of Rooms APARTMENT LAYOUTS:

$68,400.00 $102,000.00 1 1 1.00 3.0 3 Basement

Certified True and Correct to the best of my knowledge. 1 2 1.00 4.0 4 2 Bedroom 1 Bathroom

2 3 2.00 5.0 10 3 Bedroom 2 Bathroom

(Signature of Owner/Seller) 4 2.5 2.00 4.5 17 TOTAL ROOMS

Owner/Seller2 3 2.00 5.0 10 3 Bedroom & 2 Baths

TOTAL GROSS MONTHLY INCOME ALL SOURCES:

TOTAL ANNUAL INCOME:

rr12.wk4

APPRAISALBOV Broker Opinion Of Value

Subject Property 1

#1 Comparable Building Sold

#2 Comparable Building Sold 2

Addresses of Subject Property and Comparable Building Sales For Appraisal

2015 Arthur Avenue

612 E 179 Street

1977 Mapes Avenue

TOTAL of ALL These SOLD BUILDING Comparables

AVERAGE of ALL These SOLD BUILDING Comparables

Borough Bronx Bronx Bronx

Neighborhood East Tremont East Tremont East Tremont

Zipcode 10457 10457 10460Block & Lot # 3068‐32 3068‐76 3106‐40

Building Class Three Family (C0)Three Families (C0) Three Families (C0)

Date Closed FOR SALE NOW 1/4/2018 11/30/2017Distance Miles to Subject Property 0 0.05 0.35Gross ACTUAL BUILT USABLE Square Footage 3,547 3,372 2,400 5,772 2,886Price Sold $/PSF FOR SALE NOW $242 $276 $256Price Sold $/Unit FOR SALE NOW $271,667 $220,667 $246,167PRICE SOLD FOR SALE NOW $815,000 $662,000 $1,477,000 $738,500

SellerFOR SALE NOW Rodriguez, Alfonso Rojas, Jose

BuyerFOR SALE NOW

Foxy Dev IV LLCBarrie, Alphajor

Transfer Type Normal Normal Normal

Year Built 2007 1901 (estimated) 1994Building Built Feet Deep Depth 59 45 40Building Dimensions 20 ft x 59 ft 22.5 ft x 45 ft 20 ft x 40 ftBuilding Built Feet Wide Width Frontage 20 22.5 20# of Commercial or Retail Units 0 0 0 0

Lot & Building Notes 1 Bldg on lot 1 Bldg on lot, Irregular 1 Bldg on lot# of Residential Units 3 3 3 6 3# of Stories High 3 3 3Year Last Altered N/A 0 0

Lot Size Land Area Square Footage 2,348 3,854 2,078 5,932 2,966

Lot Depth Feet 90 85.17 109

Lot Dimensions 26 ft x 90 ft 47.5 ft x 85.17 ft 20.78 ft x 109 ft

Lot Wide Width Frontage Feet 26.08 47.5 20.78Zoning R7-1 R7-1 R7-1

(B) Annual tax bill $2,385 $1,526 $4,784NYC's Market Value $643,000 $562,000 $563,000

Photos

Total # of Units 3 3 3 6 3Building Base Area Footprint Square Footage

1,180 1,013 800 1,813 906

(A) Gross Income $68,400 n/a n/a

(C) Operating Expenses -$10,385 n/a n/a

A-B-C =(D)

Net Income $58,015 n/a n/a

Source: Public Records, CoStar, PropertyShark, Loopnet, etc. Notice: This is NOT an appraisal. Broker is not a licensed appraiser. This is a BOV Broker Opinion of Value using comparable sales research and appraisal methodologies to determine the broker's conclusion of what the maximum possible sales value might be in an ideal market if owner signs broker's exclusive sales agreement for broker to professionally market the property for sale.

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6 A A1 B D1 D2 E = =

VALUATION METHODOLOGIES:

SELLER'S MINIMUM

REQUIRED PRICE

Gross ACTUAL BUILT USABLE Square Footage: 3,547 3,547 # of Units

3

Subject Property Lot Size Land Area Square Footage:

Gross Income Subject Property : $68,400

Net Income Subject Property: Projected Underwritten Net Income AFTER Vacancy, Collection Allowance, TIL $58,015 $58,015

Comparable Market Value Indexes: A:$ Per Existing Sq.Ft.; B:$ Per Unit; C:GRM Gross Rent Multiplier;D:$PerLandSF; E: $Per Max Buildable SF;

$256 $276 $246,167 4.87% 4.92% 13.70

Subject Property Appraisal BOV Valuations:

$907,644 $978,972 $738,500 $1,191,273 $1,179,167 $937,080 $988,773 $958,888Underwritten CAP RATE at Valuation Conclusion: 5.87% 6.05%

GRM Gross Rent Multiplier at Valuation Conclusion: 14.46 14.02Price Per Unit at Valuation Conclusion: $329,591 $319,629

Price Per Square Foot at Valuation Conclusion: $279 $270Source: Public Records, CoStar, PropertyShark, Loopnet, etc. Notice: This is NOT an appraisal. Broker is not a licensed appraiser. This is a BOV Broker Opinion of Value using comparable sales research and appraisal methodologies to determine the broker's conclusion of what the maximum possible sales value might be in an ideal market if owner signs broker's exclusive sales agreement for broker to professionally market the property for sale.

2015 Arthur Avenue

Bronx, NY 10467

Gross Annual Rental Income

Capitalization Rate on N.O.I. SOLD:

Underwritten Vacancy Allowance,

Replacement Reserves &

Management fee: CAP RATE

Valuation Based On Comparable

2017Market Survey All Bronx Areas

Capitalization Rate on N.O.I. SOLD:

Underwritten Vacancy Allowance,

Replacement Reserves &

Management fee: CAP RATE

Valuation Based On Comparable

2017Market Survey All Bronx Areas

Value of Subject Property Based On GRM of

Comparable Buildings Sold from Valuation Comparable Market Survey 2nd Quarter

2017 All Bronx Areas

CONCLUSION: Value of Subject Property Based On Average of the All These

Valuation Methodologies A, B, C, D &E:

$PSF Valuation of Subject

Property: Price Per Existing Usable

Square Foot Built Now Based on Actual

Recent Comparable Buildings SOLD Data

In This Report:

1977 Mapes

Comparable Recent Sale Per Square

Foot Apples to Apples 3 Family

Value of Subject Property

Based on the Average Price

per Unit Buildings Sold

Data In This Report 3 FAMILY

HOMES SOLD:

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Statement Details

Did your mailing address change?If so, please visit us at nyc.gov/changemailingaddress or call 311.

When you provide a check as payment, you authorize us either to use information from your check to make a one-time electronicfund transfer from your account or to process the payment as a check transaction.

Home banking payment instructions:

1. Log into your bank or online bill pay website.2. Add the new payee: NYC DOF Property Tax. Enter your account number, which is your boro,

block and lot, as it appears here: 2-03068-0032 . You may also need to enter the address for theDepartment of Finance. The address is P.O. Box 680, Newark NJ 07101-0680.

3. Schedule your online payment using your checking or savings account.

February 23, 20182015 Rental LLC2015 Arthur Ave.

2-03068-0032Page 2

Billing Summary Activity Date Due Date AmountOutstanding charges including interest and payments $0.00Finance-Property Tax 04/01/2018 $607.77

Payment 12/18/2017 State Bank of Long Island $-607.77Total amount due $0.00

Annual Property Tax DetailTax class 1 - Small Home, Less Than 4 Families Tax rate Current tax rate 20.3850%

Estimated market value $643,000 Billable assessedvalue Tax rate Taxes**

Tax before exemptions and abatements $34,539 X 20.3850% = $7,041**421a (25 Yr Not Cap $-22,839 $-4,656**

Tax before abatements $2,385**Annual property tax $2,385**

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d e s c r i p t i o nPROPERTY DESCRIPTION

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Property Description -

• Property Overview

Block & Lot 03068-0032

Lot Dimensions 26.08ft. x 90ft.

Building Dimensions 20ft. x 59ft.

Building SF 3,547

Zoning R7-1

Residential FAR 3.44

Facility FAR 4.8

Building Class Three Families (C0)

Year Built 2007

Stories 3

Residential Units 3

Currentl Tax Bill $2,385

Tax Class 1

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Property Description

• Entrance Door

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• Electrical Meters

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• Gas Meters

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• Intercom • Well Pointed Bricks

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• Three Car Parking in Front of the Building

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• Rear Entrance to First FloorApartment

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• Back of the Building

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• Backyard

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• Inside of the Building

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• Decorated Floor Tiles

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• Staircases to Apartments• The Building has Three

Apartments:• First Floor Apartment Contains

Two Bedrooms and One Bath-room,

• Second and Third Floor Apartments Contain Three Bedrooms plus Two Bathrooms.

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Property Description - Apartment• Living Room

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Property Description - Apartment

• Kitchen

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• Bathroom

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• Bedroom • Smoke Detector

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• Hallway • Closet

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• Basement

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• Basement Bathroom

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Property Description • Boiler

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Property Location

• Rentals available nearby the Subject Property

Crotona AveBronx, NY 10457

2 bedrooms1 bathroom

FOR RENT $1,675 /month

610 East 178th St Apt 4Bronx, NY 10457



2008 Hughes Ave Apt 1BBronx, NY 10457


FOR RENT $1,801/month

4298 Park Ave Apt 5Bronx, NY 10457

3 bedrooms 1 bathroom


2138 Clinton AveBronx, NY 10457

3 bedrooms2 bathrooms


676 E 179th St Apt 4Bronx, NY 10457



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l o c a t i o nPROPERTY NEIGHBORHOOD

• The Property is located in the Tremont Section of TheBronx, NY.

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Property Location

• Tremont Section of The Bronx

Tremont, is a residential neighborhood geographi-cally located in the west Bronx, New York City. The neighborhood is part of Bronx Community Board 6. Its boundaries, starting from the north and moving clockwise are: East 181st Street to the north, Southern Boulevard to the east, the Cross-Bronx Expressway to the south, and the Grand Concourse to the West. East Tremont Avenue is the primary thoroughfare through Tremont. The local subway is the IND Concourse Line (B D trains), operating along the Grand Con-course. Zip codes include 10453 and 10457. The area is patrolled by the NYPD’s 48th Precinct located at 450 Cross Bronx Expressway within Tremont.This area was known as Upper Morrisania until the 1850s, when local postmaster Hiram Tarbox realized his mail was getting mixed up with that of nearby Morrisania. Legend has it that he renamed the town “Tremont” for the three nearby hills—Fairmount, Mount Eden, and Mount Hope.

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Property Location

• The Property is located on Arthur Avenue

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Property Location

• In a very nice and quiet block

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Property Location

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Property Location

• Only One Block from Shopping and Public TRansportation in East Tremont Avenue

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Property Location

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Property Location

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Property Location

• The property is only one block from the Tremont Park

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Property Location • Near Public Schools that enhance the security of the block.

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Property Location

• Near the Botanical Garden and The Bronx Zoo

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Property Location

• Near Frodham University

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Property Location

• Near the famous Little Italy Section.

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Disclaimer

Seller’s Required Terms and Conditions of Sale: All Cash. Unconditional agreement of sale to be signed by buyer upon completion of buyer’s due diligence with 5% to 10% non-refundable deposit closing in “As Is” condition, subject to any and all violations, without any contingencies except good marketable insured title at closing.

Buyer must sign Broker ALI’s Buyer Registration NCCFA Non-Circumvention and Conditional Optional Andrew Lichtenstein, Inc. 1% Financing brokerage Agreement.

Contact Seller’s Exclusive Broker ONLY: Andrew Lichtenstein (800)242-9888 [email protected] Do Not circumvent Broker. No site access without Broker appointment.

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“This opportunity is limited and restricted to a single Institution or Accredited Investor. The statements, figures and information including financial analysis re-garding this opportunity, business, affiliates, or affiliated matters or any of the numbers or of any economic value attributable to the subject investment et al etc. herein or provided hereafter at all times are received from sources believed to be reliable and authoritative, but no representation, warranty, or guarantee is made, express or implied or is to be relied upon, as to its accuracy, correctness or completeness and all is subject to errors, inaccuracies, omissions, withdrawal, cancellation, modification, constantly changing conditions, price, terms, rate, availability, prior sale, lease, rental, occupancy, vacancy, collection, arrears, approval, closing, financing, placement or other conditions, etc. all without notice and we hereby disclaim any duty or obligation to update such information. As with any real estate or business transaction, the principle of caveat emptor applies, and anyone considering this opportunity must perform their own independent due diligence investigation and personally vet anything related to herein verify all information and bear all risk for any inaccuracies, error, omission etc. Independent estimates of business, financial, investment or economic attributes should be developed with due diligence of and are advised to be represented by legal coun-sel and independent professionals before any decision is made regarding this. References to Size, square footage, or age are approximate, or estimated, zoning, calculations, and projections are made on best efforts basis and should not be relied upon and must be verified independently. This summary is for information only and does not constitute all or any part of an offer or contract. The materials and information shall not constitute an offer or a solicitation of an offer for the purchase or sale of any securities whatsoever or in any business affiliated herein, nor shall there be any sale of securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. This is not an offering, we are not licensed to solicit or sell securities. An offering may only be made by means of a prospectus supplement and accompanying base prospectus or confiden-tial Private Placement Memorandum. To the extent that any information is deemed to be a ‘forward looking statement’ as defined in the rules and regulations of the Securities Act of 1933 or of the United States Private Securities Litigation Reform Act of 1995, as amended, such information is intended to fit within the ‘safe harbor’ provisions for forward looking information and is subject to material risk factors which may or may not be disclosed herein. Actual results may differ from expectations, estimates and projections and, consequently, you should not rely on these forward looking statements as predictions of future events. Words such as “”expect,”” “”estimate,”” “”project,”” “”budget,”” “”forecast,”” “”anticipate,”” “”intend,”” “”plan,”” “”may,”” “”will,”” “”could,”” “”should,”” “”believes,”” “”pre-dicts,”” “”potential,”” “”continue,”” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. We, and any business affiliated with us, do not intend to make any investment representations about opportunities and should not be viewed as such. This message is for the named person’s use only. This is the product of confidential proprietary information from Andrew Lichtenstein, Inc. whom you must pay, and protect that same is paid and not circumvented. It may contain sensitive and private proprietary or legally privileged information. No confidentiality or privilege is waived or lost by any erroneous transmission. If you are not the intended recipient, please immediately delete it and all copies of it from your system, destroy any hard copies of it and notify the sender. You must not, directly or indirectly, use, disclose, distribute, print, or copy any part of this message if you are not the intended recipient. Unless otherwise stated, any pricing information given in this message is indicative only and does not constitute an offer to deal at any price quoted. Any reference to the terms of executed transactions should be treated as preliminary only and subject to our formal written confirmation. This message cannot be considered spam as long as we include the way to be removed, Paragraph (a)(c) of S. 1618. To be removed from receiving further communication just call toll free 24 hours a day 800-242-9888, or fax to our 24 hour fax line 866-591-1138 reply “REMOVE” with your fax number, or email reply Unsubscribe REMOVE in the subject line and tell us the fax number or email address this was sent to. This message is sent in compliance of the new email bill section 301. Under Bill S. 1618 TITLE III passed by the 105th US Congress.”

Disclaimer

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Documents

Newest LichtensteinRE Exclusive Property for Sale › d2 › GfCmjYzY3tsl9qRWl8I1Udi2... · 2018-07-19 · ABSOLUTELY ARTHUR AVENUE 1/2 MILE TO ARTHUR AVENUE LITTLE ITALY, BRONX NY