5 Unit Multi-Family With Buildable 3-Family Lot...investigations including through appropriate third...

KW COMMERCIAL

1155 Avenue of the Americas

New York, NY 10036TONY MAZZULLIAssociate Broker0 914.438.1476C [email protected]

5 Unit Multi-Family With Buildable 3-Family Lot

OFFERING MEMORANDUM

PRESENTED BY:

WHITE PLAINS, NY

OFFERING MEMORANDUM

www.kwcommercial.com 2

KW COMMERCIAL

1155 Avenue of the Americas

New York, NY 10036

Confidentiality & Disclaimer

TONY MAZZULLIAssociate Broker0 914.438.1476C [email protected]

All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third party sourcesare provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property, compliance or lack of compliancewith applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of theproperty for any party’s intended use or any and all other matters.

Neither KW Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy orcompleteness of the materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, thatmay be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters ofsignificance to such party. KW Commercial will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed inwriting.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections andinvestigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by theparty including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. KW Commercialmakes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. KW Commercialdoes not serve as a financial advisor to any party regarding any proposed transaction.

All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data orperformance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can beestablished at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as marketconditions,vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party withan attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by theparty with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmentalrequirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. Allproperties and services are marketed by NYC - Manhattan in compliance with all applicable fair housing and equal opportunity laws.

We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. Itis submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.

OFFERING MEMORANDUM

PRESENTED BY:

WHITE PLAINS, NY

http://www.kwcommercial.com

PROPERTY INFORMATION

1 | PROPERTY INFORMATION

EXECUTIVE SUMMARY

TAX MAP

LEFT ELEVATION

GROUND FLOOR PLANS

1ST FLOOR PLANS

2ND FLOOR PLANS

3RD FLOOR PLANS

1PROPERTY INFORMATION5 UNIT MULTI-FAMILY WITH BUILDABLE 3-FAMILY LOT

OFFERING MEMORANDUM


OFFERING SUMMARY

SALE PRICE: $2,250,000

NUMBER OF UNITS: 5

CAP RATE: 6.0%

NOI: $105,867

LOT SIZE: 0.44 Acres

BUILDING SIZE: 3,800 SF

RENOVATED: 2018

ZONING: MF

MARKET: White Plains

PROPERTY OVERVIEW5 Unit Multi-Family Building in White Plains. Completely gut renovated. Priceincludes buildable 3-family lot in rear.

PROPERTY HIGHLIGHTS• Brand new interior construction and mechanical systems, fully renovated down

to studs

• 5 - Two bedroom units with private storage

• 2 parking spots per unit

• All units have independent electric and heat meters

• Central location 2 miles from downtown White Plains

• Includes buildable 3-family lot (62 Mclean Ave, 0.13 Acres)

• Total of 0.44 Acres of land

Executive Summary

5 UNIT MULTI-FAMILY WITH BUILDABLE 3-FAMILY LOT 1 | PROPERTY INFORMATION



Tax Map




Left Elevation




Ground Floor Plan




1st Floor Plan




2nd Floor Plans




3rd Floor Plans



LOCATION INFORMATION

2 | LOCATION INFORMATION

REGIONAL MAP

LOCATION MAPS

2LOCATION INFORMATION5 UNIT MULTI-FAMILY WITH BUILDABLE 3-FAMILY LOT

OFFERING MEMORANDUM


5 Unit Multi-Family withBuildable 3-Family Lot

Regional Map

5 UNIT MULTI-FAMILY WITH BUILDABLE 3-FAMILY LOT 2 | LOCATION INFORMATION



Location Maps

5 UNIT MULTI-FAMILY WITH BUILDABLE 3-FAMILY LOT 2 | LOCATION INFORMATION


FINANCIAL ANALYSIS

3 | FINANCIAL ANALYSIS

INCOME & EXPENSES

RENT ROLL

3FINANCIAL ANALYSIS5 UNIT MULTI-FAMILY WITH BUILDABLE 3-FAMILY LOT

OFFERING MEMORANDUM


INCOME SUMMARY 5-UNIT MULTI-FAMILY

Market Rental Income $122,400

Gross Income $122,400

EXPENSE SUMMARY 5-UNIT MULTI-FAMILY

Tax $18,300Insurance $5,400Common Electric $1,233Water $2,400Maintenance $1,800

Gross Expenses $29,133

Net Operating Income $105,867

Income & Expenses

5 UNIT MULTI-FAMILY WITH BUILDABLE 3-FAMILY LOT 3 | FINANCIAL ANALYSIS



UNIT

NUMBER

UNIT

BED

UNIT

BATH

UNIT

SIZE (SF)

LEASE

START

LEASE

END

CURRENT

RENT

CURRENT

RENT (PER SF)

MARKET

RENT

MARKET

RENT/SF

SECURITY

DEPOSIT

Ground Floor 2 1 $2,250

1st Floor A 2 1 $2,250

1st Floor B 2 1 $2,250

2nd Floor A 2 1 $2,250

2nd Floor B 2 1 $2,250

Attic Storare 0 0 $0

Totals/Averages 0 $0 $11,250 $0

Rent Roll

5 UNIT MULTI-FAMILY WITH BUILDABLE 3-FAMILY LOT 3 | FINANCIAL ANALYSIS


5 Unit Multi-Family With Buildable 3-Family Lot...investigations including through appropriate third...

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