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Darrell Cummings
5 years ago
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2 TOTAL UNITS TOTAL SQUARE FEET PRICE /SF PROJECTED TAXES CAP RATE GRM FRONTAGE TOTAL AIR RIGHTS

3 OFFERING PRICE $2,795,000 14% 5% $1,832 RATIO OF FAIR MARKET UNITS PROPERTY TAXES RATIO PRO FORMA AVERAGE MONTHLY RENT $/SF $466 INCOME CURRENT PRO FORMA $/UNIT $349,375 Gross Potential Residential Rent $140,949 $153,861 TOTAL SF 6,000 Gross Potential Commercial Rent $23,516 $23,516 TOTAL UNITS 8 Gross Income $164,465 $177,377 Vacancy/Collection Loss ($4,228) ($4,616) CURRENT METRICS Other Income $0 $0 CAP RATE 4.5% Effective Gross Income $160,236 $172,761 GRM 17.0 Average Residential Rent/Month/Unit $1,678 $1,832 PRO FORMA METRICS CAP RATE 4.9% EXPENSES GRM 15.8 Property Taxes Tax Class: 2B $7,255 $7,255 Fuel $5,000 $5,000 Insurance $3,400 $3,400 Water and Sewer $6,300 $6,300 EXPENSE RATIO UPSIDE ANALYSIS Repairs and Maintenance $4,000 $4,000 22% $3,500 $3,000 $2,500 $2,000 $1,500 $1,000 $500 $0 Current Avg RS Units Market Rents Current Avg FM Rents Common Electric (PPSF) $900 $900 Super Salary $2,000 $2,000 Management Fee $6,409 $6,910 Total Expenses $35,264 $35,765 Net Operating Income $124,972 $136,995 LEASE STATUS ANALYSIS UNIT BREAKDOWN % OF TOTAL TOTAL AVG. RENT Total Units -- 7 $1,958 Total RS Units 86% 6 $1,466 Total RC Units 0% 0 $0 Total FM Units 14% 1 $2,950 Total Commercial -- 1 $1,960 6,000 $466 GROSS TOTAL SF $/SF UNIT TYPE ANALYSIS TYPE % OF TOTAL TOTAL AVG. RENT Studio 0% 0 $0 1 Bedroom 86% 6 $1,466 2 Bedroom 14% 1 $2,950 3 Bedroom 0% 0 $0 4 Bedroom 0% 0 $0 5 Bedroom 0% 0 $0 6 Bedroom 0% 0 $0 SRO 0% 0 $0 Financing Inquiries: Andrew Dansker This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc Marcus & Millichap

4 COMMERCIAL RENT UNIT TENANT NAME NOTES LEASE START EXPIRATION ACTUAL PRO FORMA COM Hairrari Inc. 3% Annual Increases Nov-22 $1,960 $1,960 MONTHLY COMMERCIAL REVENUE $1,960 $1,960 RESIDENTIAL RENT UNIT# LEASE STATUS NOTES BEDROOMS ROOMS ACTUAL LEGAL 1L FM Vacant Renovated Duplex w/ Backyard 2 Bedroom 4 $2,950 $2,950 2L RS 1 Bedroom 3 $1,444 $1,503 2R RS 1 Bedroom 3 $880 $880 3L RS 1 Bedroom 3 $1,700 $2,390 3R RS 1 Bedroom 3 $1,800 $2,127 4L RS 1 Bedroom 3 $1,700 $1,700 4R RS 1 Bedroom 3 $1,272 $1,272 MONTHLY RESIDENTIAL REVENUE 8 22 $11,746 $12,822 ANNUAL RESIDENTIAL REVENUE $140,949 $153,861 ANNUAL COMMERCIAL REVENUE $23,516 $23,516 ACTUAL PRO FORMA TOTAL ANNUAL REVENUE $164,465 $177,377 There is currently 1 vacant unit in the building. The super lives off site. * 1st floor rear apartment is gut renovated and duplexed with separate heating system. Tenant will pay heat when leased. * Elect rical in building was complet ely upgraded 2 years ago. * Unit 2L, 3L, and 3R are paying preferent ial rent s. The legal rent s t hat are regist ered wit h DHCR are not ed in t he above rent roll. Financing Inquiries: Andrew Dansker This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc Marcus & Millichap

5 CITY: STATE: BLOCK & LOT: Brooklyni NYi 3045 / 19i LOT DIMENSIONS: 25 ft X 100 fti LOT SF: 2,500i BUILDING DIMENSIONS: 25 ft X 60 fti BUILDING SF: 6,000i ZONING: R6i MAX FAR: 2.20i AVAILABLE AIR RIGHTS: LANDMARK DISTRICT: HISTORIC DISTRICT: ANNUAL TAX BILL: 0i Nonei Nonei $7,255i TAX CLASS: 2Bi Financing Inquiries: Andrew Dansker

6 Financing Andrew Dansker Inquiries:

Tel: (212) Tel: (718) Tel: (718)

Tel: (212) Tel: (718) Tel: (718) pvonderahe@mmreis.com sriney@ipausa.com TOTAL UNITS WITH AIR SHAFTS thomas.shihadeh@mmreis.com andrew.reiter@marcusmillichap.com PRICE /SF PROJECTED TAXES Tel: (212) 430-5168 adansker@marcusmillichap.com