Introducing: The Canisius Student Portfolio A Unique Investment Offering 11 units 5 buildings Buffalo, New York Address: 46 Glendale Pl., Buffalo, New York 14208 Design: 4/4 double, total bedrooms = 8 Utilities: Separate gas & electric House meters: water Address: 70 Blaine Ave. Buffalo, New York 14208 Design: 3/3 double, total bedrooms = 6 Utilities: separate, gas & electric Parking: street House meter: water $ 995,000 EXCLUSIVLEY OFFERED Address: 29 Glendale Pl. Buffalo, New York 14208 Design: 3 units, total bedrooms =6 Utilities: separate, gas House meters: water Address: 64 Eastwood Pl., Buffalo, New York 14208 Design: 3/3 double total bedrooms = 6 Utilities: separate, gas & electric Lease/deposit: security plus 1stmonth, House meter: water Address: 126 Loring Ave. Buffalo, New York 14208 Design: 3/3 double, total bedrooms = 6 Utilities: separate gas & electric House meter; water
Notes: laundry is included in each building, stoves and refrigerators are included in each kitchen, lawn care and snow removal are provided by landlord. Trash is the tenant s responsibility. Income: 29 Glendale 46 Glendale 70 Blaine 126 Loring 64 Eastwood Annual Income Upper $ Lower $ Rear $ 800 850 800 850 900 50400 900 850 900 850 900 52800 650 7800 Monthly PGI 2350 1700 1700 1700 1800 9250 Annual PGI 111,000 VACANCY 5% EGI $105450 Expenses: Taxes 1512 1386 1008 1714 1557 7177 Insurance 804 822 804 904 777 4111 Water 844 564 603 542 592 3145 Utilities 2400 2400 Lawn 150 150 150 150 150 750 Snow 0 0 0 0 0 0 Maint. & Repair 5% 5273 Management 5% 5273 TTL. expenses $28129 Net Income $77,321 Highlights & overview: All new windows in each building appliances included New Furnaces Bathrooms remodeled in each unit All new plumbing in each building Excellent rental history New circuit panels and wiring Delivered free and clear 12 month leases No private financing
Financial Analysis Overview Proposed financing 75% LTV, 5.0%, 30 yr term Sale price: $995,000 Equity: $248,750 1 st mortgage: $746,250 ADS: $48,072 NOI: $77,321 DCR: 1.61 CFBT: $29,249 Cash on cash: 11.8% 1 st yr. principle: $11,010 1 st year total: $28, 012 Overall ROI: 16.0% For Additional Information or Tour Contact; Michael Battaglia CCIM Network One Realty Advisors 716-310-9871 direct 716-874-3530 office & fax mbattag670@aol.com Cap Ex. 70 Blaine: glass block windows New kitchens & baths new furnace, water tanks 126 Loring: porches rebuilt 64 Eastwood: Porches rebuilt new kitchens new doors & glass block windows 29 Glendale: furnaces replaces kitchens & flooring 46 Glendale: new furnace, new water tank new porch roof & gutters 2018 Network One Realty/ information has been obtained from sources believed reliable. We do not doubt the accuracy; however, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of this property. You should conduct a careful, independent investigation of the property, to determine the suitability of the property for your needs.
Overview: Network One Realty is please to exclusively offer this 5 building, (32 bedroom) student housing package, servicing the Canisius College campus along with exposure to the Medaille College and the University at Buffalo and Buffalo State campuses. The properties consist of multiple unit dwellings with a mixture of 3-4 bedroom units. The properties are currently rented to both market rate and student housing as reflecting in the Offering Memorandum. The 2018 income is annualized from the current rent roll and the expenses are actual values per owner from 2017 and carried forward to 2018. The yr.1 projections are based on industry standards for a "per bedroom" allocation as demonstrated in the market place for like kind properties. Current ownership operates on full 12 month leases and snow removal is a pass thru expense to the tenants. The building come equipped with appliances and also laundry facilities in each basement. The current ownership has upgraded mechanicals, windows, kitchens and baths along with plumbing and electrical. The properties are being offered as a Bulk sale only, with no private financing. For additional information or private tour: contact: Michael Battaglia CCIM Network One Realty Advisors 716-310-9871 direct 716-874-3530 office -fax mbattag670@aol.com
Canisius student housing package - 5 property portfolio total units 11 current rent roll Yr.1 @$375/bed total beds 32 annualized re-constructed 2018 2019 Total Income $ 111,000.00 $ 144,000.00 less: Vacancy assumption (5%) (5,550.00) 7,200.00 Effective gross income $ 105,450.00 $ 136,800.00 Expenses Insurance $ 4,111.00 $ 4,111.00 Property Taxes 7,177.00 7,177.00 Utilities 2,400.00 2,400.00 Lawn Care 750.00 750.00 Snow Removal - - water 3,145.00 3,145.00 Management 5% 5,272.50 6,840.00 Repairs & Maintenance 5% 5,272.50 6,840.00 Reserves $300/u 3,300.00 3,300.00 Total Expenses $ 31,428.00 $ 34,563.00 Net Income $ 74,022.00 $ 102,237.00 VALUATION @ 7.5% $ 986,960.00 $ 1,363,160.00 VALUATION @ 7% $ 1,057,457.14 $ 1,460,528.57