8 TOTAL UNITS 18 ‘ FRONTAGE 4.1% CAP RATE 5,580 TOTAL SQUARE FEET $55,619 PROJECTED TAXES 17.5 GRM Peter Von Der Ahe Tel: (212) 430-5114 [email protected]Joe Koicim Tel: (212) 430-5147 [email protected]Jared Bernstein Tel: 646-805-1451 [email protected]LISTING METRICS 242 East 40th Street Is being offered at $5,980,000
6
Embed
PowerPoint Presentation · Peter Von Der Ahe. Tel: (212) 430-5114. Joe Koicim. Tel: (212) 430-5147. Jared Bernstein. Tel: 646-805-1451. UNIT TENANT NAME NOTES LEASE START SF EXPIRATION
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
$/SF $1,072 INCOME CURRENT PRO FORMA$/UNIT $747,500 Gross Potential Residential Rent $174,686 $191,270TOTAL SF 5,580 Gross Potential Commercial Rent $168,000 $168,000TOTAL UNITS 8 Gross Income $342,686 $359,270
CURRENT METRICS Other Income $0 $0CAP RATE 4.1% Effective Gross Income $339,192 $355,445GRM 17.5 Average Residential Rent/Month/Unit $2,080 $2,277
PRO FORMA METRICS
CAP RATE 4.4% EXPENSESGRM 16.6 Property Taxes Tax Class: 2B $55,619 $55,619CASH ON CASH 3.13% Fuel - Gas $6,500 $6,500
Insurance $5,182 $5,182Water and Sewer $7,250 $7,250
EXPENSE RATIO UPSIDE ANALYSIS Repairs and Maintenance $2,000 $2,000Common Electric (PPSF) $1,395 $1,395Super Salary $3,500 $3,500Management Fee $10,176 $10,663Total Expenses $91,622 $92,109Net Operating Income $247,571 $263,335
LEASE STATUS ANALYSISUNIT BREAKDOWN % OF TOTAL TOTAL AVG. RENTTotal Units -- 7 $4,080Total RS Units 29% 2 $1,704Total RC Units 0% 0 $0
PROPOSED DEBT Total FM Units 71% 5 $2,230Debt Service ($179,425) Total Commercial -- 1 $14,000Debt Coverage Ratio 1.38Net Debt Cash Flow After Debt Service $83,910 UNIT TYPE ANALYSISLoan Amount $3,300,000 TYPE % OF TOTAL TOTAL AVG. RENTInterest Rate 3.50% Studio 71% 5 $1,806Amortization 30 1 Bedroom 14% 1 $2,225