investment property for sale · all information deemed reliable but not guaranteed by howard hanna...
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JOSEPH CARDINALELicensed Real Estate SalespersonThe Joseph Cardinale TeamWHEN YOU CALL...I’LL ANSWER!cell. (518) [email protected]
1547 Route 9 . Clifton Park, NY 12065
www.joeinfo.me
If you have a brokerage relationship with another agency, this is not intended as a solicitation. All information deemed reliable but not guaranteed by Howard Hanna or its agents/affiliates.
Investment Property
FOR SALE644 2ND Avenue . Troy, NY 12180
9,840 Sq Ft, Multi Family 7 UNITS 1 Leased Store Front with 6 Residential Units
Offered at$450,000
TREMENDOUS INVESTMENT. 7 UNITS 1 Leased Store Front with 6 Residential Units. Priced To Sell!! Units have been Renovated over the last 2 years Many new water heat-ers, boilers, Windows, Appliances Replaced Self Managed CAP Rate13.9% Professional Managed CAP Rate 12.6% Low Market rent CAP Rate Goes to 13.4% or 12.2% High Market Rent Cap Rate Goes to 14.4% or 13.1% Available Showing time per schedule (Must Make Appointment): Wed. 10/10 1:00 Friday 10/12 3:00 Saturday 10/13 12:00
644 2ND Avenue . Troy, NY 12180
Property PerformanceCap Rate Calculations
INCOMEINCOME
Building Rent Unit Bed Current Market RentUnit Type Location Rooms Rent Low High
Store lease Floor 1 0 $1,500 $1,500 $1,500Unit 1 vacant Floor 2 Front 2 $875 $875 $925Unit 2 lease Floor 2 Back 2 $750 $875 $925Unit 3 lease Floor 3&4 3 $900 $875 $925Unit 4 lease Floor 3&4 2 $850 $875 $925Unit 5 lease Floor 3&4 2 $850 $900 $1,000Unit 6 lease Floor 3&4 3 $925 $900 $1,000
$6,650 $6,800 $7,200Other Income $0 $0 $0
Monthly Income $6,650 $6,800 $7,200
Annual n Income o
Annual Income with 5% Vacancy Rate
$79,800 $81,600 $86,400Current Low Market High Market
$77,520 $82,080
EXPENSES
EXPENSESCommonExpenses Total
City Tax $1,900 $1,900School Tax $5,012 $5,012Insurance $3,000 $3,000
Water $1,600 $1,600Sewer $0
Trash (City) $960 $960Gas & Electric (Common Area) $0 $0
Pest Control $0 $0Snow/Lawn Care $0 $0
$0$0
Maintenance/Repairs(3% Low Market) $2,448 $2,448Replacement Reserve (3% Low Market) $2,448 $2,448
Total Expenses Self Managed $17,368Low High
Current Market MarketProfessional Management (7%) $5,586 $5,426 $5,746
Total Expenses Professionally Managed $22,954 $22,794 $23,114
t Income Self ManagedNet Income Managed
Price CurrentSelf Managed Cap Rate 13.9%
Professionally Managed Cap Rate 12.6%
$62,432 $60,152 $64,712Current Net Low Market High Market
$450,00013.4%12.2%
14.4%13.1%
MarketHigh
Market
$56,846 $54,726 $58,966
Low
Property Information
• Self Managed CAP Rate 13.9% Professional Managed CAP Rate 12.6%
• Low Market rent CAP Rate Goes to 13.4% or 12.2%
• High Market Rent Cap Rate Goes to 14.4% or 13.1%
• Units have been gone thru and redone over the last 2 years
644 2ND Avenue . Troy, NY 12180
Wednesday 10/10/18 1:00 to 2:00
Friday 10/12/18 3:00 to 4:00
Saturday 10/13/18 12:00 to 1:00
Buildings have been priced for the purpose of selling them after these showings. All offers will be presented to owner.
Agents please book within these windows on Showingtime. Property will not be shown outside of this schedule.
Listing agent will be at the building to provide access during these times But only if showings are booked on Showingtime
I will present offers to clients as they come in
The Owner will consider Cash Deals and No Inspection Deals as having a significant advantage over Financed deals. Financed deals cannot have a contingency over 70% (purchaser can finance what they want)
Owner will make available any units not able to be seen at time of showing available for viewing during lawyer contingence period
If repairs are required for financing the sellers will agree to a hold harmless but purchasers will be required to have work done. Property is AS IS.
Proof of Funds and Pre-Approval are required with offer submission.
With Financed Offers, Must Provide 30% proof of funds
Minimum deposit with offer is $4000.00
Please make your first offer your Best offer, we will except the best offer at or Above owners exceptable price and will not be putting out a multi offer 2nd Chance.
Property Info 644 Second Ave
TREMENDOUS INVESTMENT. 7 UNITS 1 Leased Store Front with 6 Residential Units. Priced To Sell!!
Showing Schedule & Offer Outline
JOSEPH CARDINALELicensed Real Estate SalespersonThe Joseph Cardinale TeamWHEN YOU CALL...I’LL ANSWER!cell. (518) [email protected]
1547 Route 9 . Clifton Park, NY 12065
www.joeinfo.me
If you have a brokerage relationship with another agency, this is not intended as a solicitation. All information deemed reliable but not guaranteed by Howard Hanna or its agents/affiliates.