6.8% Cap Rate Located in Stuyvesant Heights, with close walking distance to subways and bus, this building represents one of the last untouched investment opportunities in this transformed area. With 4 residential units and a large commercial space that includes the basement and outdoor yard suitable for a restaurant, this building offers the perfect combination for investors or owner operators. Building will be delivered vacant, units were renovated 8 years ago but will need repairs to achieve market rental rates. Income & Expenses Income Annual Rental Income $160,800 Less: 3% Vacancy Loss -$4,824 Gross Operating Income $155,976 Expenses Real Estate Taxes $5,087 Insurance $4,000 Common Area Electric $1,950 Fuel (Gas / Oil) $3,200 Water / Sewer $4,850 Repair & Maintenance $3,500 Super Payroll $6,000 Management Fee (5%) $7,799 Total Expenses $28,587 Net Operating Income $127,389 Call for full details "All calculations are based on estimates and are not guaranteed"
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
