This property is located between Northern Boulevard and Broadway only ½ block to the M & R train station. This building has 6 – 3 bedroom railroad apartments. All units are rent stabilized & 1 apt. has SCRIE. The building also has a full basement with access to the backyard. This building has below market rents with tremendous upside as rents in the area have escalated. Income: Apt 1R - $ 1,083 (access to backyard) Lease Expires 7/31/16 Apt 1L - $ 1,065 Lease Expires 06/30/18 Apt 2R - $ 1,153 Lease Expires 05/31/18 Apt 2L - $ 1,189 Lease Expires 08/31/17 Apt 3R - $ 1,160 Preferential Lease Expires 12/31/17 Actual Rent 1197.99 Apt 3L - $ 967_ (pays $725 balance $242 scrie) Lease Expires 03/31/17 $ 6,617 Monthly = $ 79,404 Annually $ 6,617 Monthly = $ 79,404 Annually Expenses: Heat expenses- $ 7,800 (oil heat) Electric- $ 1,000 Insurance- $ 1,850 Repairs/Maint- $ 4,000 Water/Sewer- $ 6,100 (flat rate unlimited usage) Property Taxes-$12,423¬¬¬_(2016-2017)_________ $ 33,173 Annual Expenses N.O.I: $46,231 Building dimensions 27 ft x 68.5 f Please Contact listing agent Peter Vekiarellis @ (917) 968-5318 for more info
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