BUSHWICK TOWNHOUSE LIVING 7 Gut Renovated Townhouses 50 Bedrooms For Sale Investment highlights Verus Real Estate presents a unique opportunity to own seven (7) two- and three-family townhouses in prime locations of the trendy Bushwick in Northern Brooklyn. These properties are fully tenanted with long-term leases and carefully managed by a professional service provider. All are located in close proximity to the subway, providing an easy connection to Manhattan. Such income-producing investment portfolio presents an upside potential in a dynamically expanding neighborhood. Each building boasts an opportunity to expand (Max FAR=2.43). The L train closure is not expected to have a large impact on these geographic locations (J, M, Z trains in relatively close proximity to most of the townhouses). 79A Cooper 1239 Putnam 1310 Putnam 1111 Jefferson 752 Bushwick 106 Harman 132 Cornelia Block/Lot 03433/0053 03368/0047 03376/0032 03381/0056 03229/0022 03285/0041 03382/0018 Class Two-family Two-family Two-family Two-family Two-family Two-family Three-family Bedrooms # 6 5 7 7 8 7 10 Size (sq. ft.) 2,160 2,364 2,700 2,700 2,508 2,880 2,565 Footprint 16x45 17.5x45 20x45 20x45 20x36 20x48 19x45 Lot size 16x100 20x100 20x100 20x100 20x74 20x100 19x100 Current FAR 1.35 1.35 1.35 1.35 1.69 1.44 1.35 Add l Resi. FAR 1.08 1.08 1.08 1.08 0.74 0.99 1.08 Asking Price $1,400,000 $1,400,000 $1,750,000 $1,740,000 $1,880,000 $1,800,000 $1,850,000 79A 1239 1310 1111 752 106 132 Total Cooper Putnam Putnam Jefferson Bushwick Harman Cornelia Portfolio Gross Income $88,800 $82,200 $110,400 $102,000 $115,200 $104,400 $102,000 $705,000 Real Estate Taxes $3,908 $2,062 $3,730 $2,659 $4,091 $2,209 $3,104 $21,763 Insurance $2,593 $2,115 $2,460 $2,920 $2,593 $2,257 $2,539 $17,477 Total Current Expenses* $31,411 $25,418 $32,955 $31,089 $35,770 $32,346 $26,740 $221,043 Net Operating Income $57,389 $56,782 $77,445 $70,911 $79,430 $72,054 $75,260 $483,957 * Most management, maintenance, water, electric and gas fees currently paid by the owner to secure high all-inclusive rent
1310 Putnam Ave This fully renovated two-family townhouse comes fully equipped with brand new plumbing, electrical, and luxury finishes. The 2,700 sq. ft. property consists of two units: a 5-bedroom / 3-bathrooms duplex, a 2-bedroom floorthrough apartment and a finished basement. Tenants will enjoy all the comforts of home, including hard wood floors, a brand new open kitchen, modern bathrooms, central a/c, a deck, a backyard, as well as a washer/dryer in each unit. The rooms have high ceilings and large windows. 1310 Putnam Block/Lot 03376/0032 Class Two-family Bedrooms # 7 Size (sq. ft.) 2,700 Footprint 20x45 Lot size 20x100 Current FAR 1.35 Add l Resi. FAR 1.08 Asking Price $1,750,000 Leases per month and expiration: First floor - $3,100 (07/31/2019); Top duplex - $6,100 (12/31/2018) 1310 Putnam Gross Income $110,400 Real Estate Taxes $3,730 Insurance $2,460 Total Current Expenses* $32,955 Net Operating Income $77,445 * Management, maintenance, water, electric and gas fees currently paid by the owner to secure high all-inclusive rent
240 Riverside Blvd. CU #2 1239 Putnam St This fully renovated two-family townhouse comes fully equipped with brand new plumbing, electrical, and luxury finishes. The 2,364 sq. ft. property consists of two units: a 3-bedroom / 3-bathrooms duplex and a 2-bedroom floor-through apartment. Tenants will enjoy all the comforts of home, including hard wood floors, a brand new open kitchen, modern bathrooms, central a/c, a deck, a large backyard, as well as a washer/dryer in each unit. The rooms have high ceilings and large windows. 1239 Putnam Block/Lot Class Bedrooms # Size (sq. ft.) Footprint Lot size Current FAR Add l Resi. FAR Asking Price 03368/0047 Two-family 5 2,364 17.5x45 20x100 1.35 1.08 $1,400,000 Leases per month and expiration: First floor - $2,500 (11/30/2018); Top duplex - $4,350 (11/30/2018) Gross Income Real Estate Taxes Insurance Total Current Expenses* Net Operating Income 1239 Putnam $82,200 $2,062 $2,115 $25,418 $56,782 * Management, maintenance, water, electric and gas fees currently paid by the owner to secure high all-inclusive rent
106 Harman St This fully renovated two-family townhouse comes fully equipped with brand new plumbing, electrical, and luxury finishes. The 2,880 sq. ft. property consists of two units: a 5-bedroom / 3-bathrooms duplex and a 2-bedroom floor-through apartment. Tenants will enjoy all the comforts of home, including hard wood floors, a brand new open kitchen, modern bathrooms, central a/c, a deck, a large backyard, as well as a washer/dryer in each unit. The rooms have high ceilings and large windows. 106 Harman Block/Lot 03285/0041 Class Two-family Bedrooms # 7 Size (sq. ft.) 2,880 Footprint 20x48 Lot size 20x100 Current FAR 1.44 Add l Resi. FAR 0.99 Asking Price $1,800,000 Leases per month and expiration: First floor - $2,700 (12/31/2018+want to extend); Top duplex - $6,000 (12/31/2018) 106 Harman Gross Income $104,400 Real Estate Taxes $2,209 Insurance $2,257 Total Current Expenses* $32,346 Net Operating Income $72,054 * Management, maintenance, water, electric and gas fees currently paid by the owner to secure high all-inclusive rent
1111 Jefferson Ave This fully renovated two-family townhouse comes fully equipped with brand new plumbing, electrical, and luxury finishes. The 2,700 sq. ft. property boasts 7 bedrooms and 3 bathrooms, full ceiling height cellar, a terrace and garden. Tenants will enjoy all the comforts of home, including hard wood floors, a brand new open kitchen, modern bathrooms, a large backyard, as well as a washer/dryer. The rooms have high ceilings and large windows. 1111 Jefferson Block/Lot 03381/0056 Class Two-family Bedrooms # 7 Size (sq. ft.) 2,700 Footprint 20x45 Lot size 20x100 Current FAR 1.35 Add l Resi. FAR 1.08 Asking Price $1,740,000 Leases per month and expiration: 1 st floor - $2,800 (10/31/2019); 2 nd - $2,700 (11/15/2018); 3 rd - $3,000 (02/28/2019) 1111 Jefferson Gross Income $102,000 Real Estate Taxes $2,659 Insurance $2,920 Total Current Expenses* $31,089 Net Operating Income $70,911 * Management, maintenance, water, electric and gas fees currently paid by the owner to secure high all-inclusive rent
240 Riverside Blvd. CU #2 752 Bushwick Ave This fully renovated two-family townhouse comes fully equipped with brand new plumbing, electrical, and luxury finishes. The 2,501 sq. ft. property consists of two units: a 6-bedroom / 4-bathrooms duplex and a 2-bedroom / 2bathrooms floor-through apartment with a finished basement. Tenants will enjoy all the comforts of home, including hard wood floors, a brand new open kitchen, modern bathrooms, a large backyard, as well as a washer/dryer. The rooms have high ceilings and large windows. 752 Bushwick Block/Lot Class Bedrooms # Size (sq. ft.) Footprint Lot size Current FAR Add l Resi. FAR Asking Price 03229/0022 Two-family 8 2,508 20x36 20x74 1.69 0.74 $1,880,000 Leases per month and expiration: First floor - $2,800 (07/31/2019); Top duplex - $6,800 (12/31/2018) Gross Income Real Estate Taxes Insurance Total Current Expenses* Net Operating Income 752 Bushwick $115,200 $4,091 $2,593 $35,770 $79,430 * Management, maintenance, water, electric and gas fees currently paid by the owner to secure high all-inclusive rent
240 Riverside Blvd. CU #2 79A Cooper St This fully renovated two-family townhouse comes fully equipped with brand new plumbing, electrical, and luxury finishes. The 2,160 sq. ft. property consists of two units: a 4-bedroom / 2-bathrooms duplex, a 2-bedroom floorthrough apartment and a finished basement. Tenants will enjoy all the comforts of home, including hard wood floors, a brand new open kitchen, modern bathrooms, central a/c, a deck, a backyard, as well as a washer/dryer in each unit. The rooms have high ceilings and large windows. 79A Cooper Block/Lot Class Bedrooms # Size (sq. ft.) Footprint Lot size Current FAR Add l Resi. FAR Asking Price 03433/0053 Two-family 6 2,160 16x45 16x100 1.35 1.08 $1,400,000 Leases per month and expiration: First floor - $2,800 (11/15/2018, want to extend); Top duplex - $4,600 (02/28/2019) Gross Income Real Estate Taxes Insurance Total Current Expenses* Net Operating Income 79A Cooper $88,800 $3,908 $2,593 $31,411 $57,389 * Management, maintenance, water, electric and gas fees currently paid by the owner to secure high all-inclusive rent
240 Riverside Blvd. CU #2 132 Cornelia St This three-family 2,565 sq. ft. property consists of three 3-bedroom / 1-bathroom units and a renovated basement with washer/dryer. Tenants will enjoy all the comforts of home, including hard wood floors, open kitchen, and a large backyard. 132 Cornelia Block/Lot Class Bedrooms # Size (sq. ft.) Footprint Lot size Current FAR Add l Resi. FAR Asking Price 03382/0018 Three-family 10 2,565 19x45 19x100 1.35 1.08 $1,850,000 st nd rd Leases per month and expiration: 1 floor - $3,000 (09/30/2019); 2 - $2,650 (12/31/2018); 3 - $2,850 (07/31/2019) Gross Income Real Estate Taxes Insurance Total Current Expenses* Net Operating Income 132 Cornelia $102,000 $3,104 $2,539 $26,740 $75,260 * Management, maintenance, water and gas fees currently paid by the owner to secure high all-inclusive rent, electric is covered 25% by owner