FOR SALE
RELIABLE REAL ESTATE
EAST NEW YORK MULTI- FAMILY 8 UNITS ASKING PRICE $2,585,0000
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778 Livonia Ave Brooklyn , NY 11207 FEATURES • Brand New Construction Multi-Family • 4 Floors / 8 Residential Units • Building Size 5,205 SQ FT • Lot Size 2,400 SF • Zoning R6 • 13 Years Tax Abatement
borough of Brooklyn in New York City, United States. Its boundaries, starting from the north and moving clockwise are: Cypress Hills Cemetery to the north, the Borough of Queens to the east, Jamaica Bay to the south, and the Bay Ridge Branch railway tracks next to Van Sinderen Avenue to the west. Linden Boulevard and Atlantic Avenue are the primary thoroughfares through East New York.
OFFICE Lucy Badwan 718.921.3100 x634 lucybadwanre@gmail.com
Joseph T. Hamdan 718.921.3100 jhamdan@cbreliable.com
©2019 Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Reliable Real Estate. All rights reserved. Coldwell Banker Commercial® and the Coldwell Banker Commercial are registered service marks owned by Coldwell Banker Real Estate LLC. Coldwell Banker Real Estate LLC, dba Coldwell Banker Commercial Affiliates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. The information provided is deemed reliable, but it is not guaranteed to be accurate or complete, and it should not be relied upon as such. This information should be independently verified before any person enters into a transaction based upon it.
COLDWELL BANKER COMMERCIAL RELIABLE REAL ESTATE 7428 5th Avenue, Brooklyn, New York 11209 718.921.3100
778 Livonia Ave, Brooklyn , NY 11207
OFFERING SUMMARY Sale Price: Number Of Units: Cap Rate: NOI: Lot Size:
SALE
E A S T N E W Y O R K M U LT I - FA M I LY 8 U N I T S
PROPERTY OVERVIEW $2,585,000 8 4.97% $128,560
Coldwell Banker Reliable Real Estate Commercial Division is pleased to offer for sale 778 Livonia Avenue in the East New York section of Brooklyn. This 8 unit multi-family property recently constructed in 2016 is in excellent condition and features 7 one bedroom units along with 1 one studio unit. The property can be purchased as part of a package along with 780 Livonia Avenue which is an identical property for a total of 16 units. The property is in excellent condition and centrally located in East New York close to major roads and public transportation. For more information and to schedule a property tour please contact Coldwell Banker Reliable Real Estate Commercial Division.
0.06 Acres
PROPERTY HIGHLIGHTS Year Built: Building Size:
2016 5,263 SF
• Brand New Construction Multi Family • 4 Floors / 8 Residential Units
Zoning:
R6
Market:
Brooklyn
Submarket:
East New York
• Building Size 5,205 SQ FT • Lot Size 2,400 sq ft • Zoning R6 • 13 Years Tax Abatement
Price / SF:
$491.16
CBCWORLDWIDE.COM
Lucy Badwan
Joseph T. Hamdan
718.921.3100 x634 lucybadwanre@gmail.com
718.921.3100 jhamdan@cbreliable.com
RELIABLE REAL ESTATE
778 Livonia Ave, Brooklyn , NY 11207
SALE
E A S T N E W Y O R K M U LT I - FA M I LY 8 U N I T S
INVESTMENT OVERVIEW Price
$2,585,000
Price per Unit
$323,125
GRM
20.3
CAP Rate
5.0%
Cash-on-Cash Return (yr 1) Total Return (yr 1)
4.97 % $128,560
Debt Coverage Ratio
-
OPERATING DATA Gross Scheduled Income
$127,260
Other Income
$16,800
Total Scheduled Income
$144,060
Vacancy Cost
$0
Gross Income
$144,060
Operating Expenses
$15,500
Net Operating Income
$128,560
Pre-Tax Cash Flow
$128,560
FINANCING DATA Down Payment
$2,585,000 -
CBCWORLDWIDE.COM
Lucy Badwan
Joseph T. Hamdan
718.921.3100 x634 lucybadwanre@gmail.com
718.921.3100 jhamdan@cbreliable.com
RELIABLE REAL ESTATE
778 Livonia Ave, Brooklyn , NY 11207
SALE
E A S T N E W Y O R K M U LT I - FA M I LY 8 U N I T S
INCOME SUMMARY 7 / One Bedroom Apartments $10605 a month 1 Studio Apartment $1400 a month
$127,260 $16,800
Gross Income
$144,060
EXPENSE SUMMARY Property Texes Property Insurance
$0 $5,500
Common Electric Water & Sewer Management
$1,000 $6,000 $3,000
Gross Expenses
$15,500
Net Operating Income
$128,560
CBCWORLDWIDE.COM
Lucy Badwan
Joseph T. Hamdan
718.921.3100 x634 lucybadwanre@gmail.com
718.921.3100 jhamdan@cbreliable.com
RELIABLE REAL ESTATE
SALE
E A S T N E W Y O R K M U LT I - FA M I LY 8 U N I T S 778 Livonia Ave, Brooklyn , NY 11207
UNIT
UNIT
UNIT
LEASE
CURRENT
NUMBER
BED
BATH
END
RENT
1F
0
1
Jun 30th 2019
$1,400
1R
1
1
Jun 30th 2019
$1,515
2F
1
1
Jun 30th 2019
$1,515
2R
1
1
Jun 30th 2019
$1,515
3F
1
1
Jun 30th 2019
$1,515
3R
1
1
Jun 30th 2019
$1,515
4F
1
1
Jun 30th 2019
$1,515
4R
1
1
Jun 30th 2019
$1,515
Totals/Averages
$12,005
CBCWORLDWIDE.COM
Lucy Badwan
Joseph T. Hamdan
718.921.3100 x634 lucybadwanre@gmail.com
718.921.3100 jhamdan@cbreliable.com
RELIABLE REAL ESTATE
778 Livonia Ave, Brooklyn , NY 11207
SALE
E A S T N E W Y O R K M U LT I - FA M I LY 8 U N I T S
CBCWORLDWIDE.COM
Lucy Badwan
Joseph T. Hamdan
718.921.3100 x634 lucybadwanre@gmail.com
718.921.3100 jhamdan@cbreliable.com
RELIABLE REAL ESTATE
778 Livonia Ave, Brooklyn , NY 11207
SALE
E A S T N E W Y O R K M U LT I - FA M I LY 8 U N I T S
Brooklyn , NY
CBCWORLDWIDE.COM
Lucy Badwan
Joseph T. Hamdan
718.921.3100 x634 lucybadwanre@gmail.com
718.921.3100 jhamdan@cbreliable.com
RELIABLE REAL ESTATE
778 Livonia Ave, Brooklyn , NY 11207
SALE
E A S T N E W Y O R K M U LT I - FA M I LY 8 U N I T S
CBCWORLDWIDE.COM
Lucy Badwan
Joseph T. Hamdan
718.921.3100 x634 lucybadwanre@gmail.com
718.921.3100 jhamdan@cbreliable.com
RELIABLE REAL ESTATE
SALE
E A S T N E W Y O R K M U LT I - FA M I LY 8 U N I T S 778 Livonia Ave, Brooklyn , NY 11207
POPULATION
0.25 MILES
0.5 MILES
1 MILE
9,675
34,392
116,212
Median age
30.7
30.1
29.8
Median age (Male)
25.0
25.9
26.6
Median age (Female)
33.7
32.7
32.0
0.25 MILES
0.5 MILES
1 MILE
3,207
11,608
39,129
# of persons per HH
3.0
3.0
3.0
Average HH income
$51,490
$46,750
$43,868
Average house value
$378,494
$394,845
$399,551
Total population
HOUSEHOLDS & INCOME Total households
* Demographic data derived from 2010 US Census
CBCWORLDWIDE.COM
Lucy Badwan
Joseph T. Hamdan
718.921.3100 x634 lucybadwanre@gmail.com
718.921.3100 jhamdan@cbreliable.com
RELIABLE REAL ESTATE
SALE
E A S T N E W Y O R K M U LT I - FA M I LY 8 U N I T S 778 Livonia Ave, Brooklyn , NY 11207
CONFIDENTIALITY AGREEMENT This offering has been prepared solely for informational purposes. It is designed to assist a potential investor in determining whether it wishes to proceed with an in-depth investigation of the subject property. While the information contained herein is from sources deemed reliable, it has not been independently verified by the Coldwell Banker Commercial affiliate or by the Seller. The projections and pro forma budget contained herein represent best estimates on assumptions considered reasonable under the circumstances. No representations or warranties, expressed or implied, are made that actual results will conform to such projections. This document is provided subject to errors, omissions and changes in the information and is subject to modification or withdrawal. The contents herein are confidential and are not to be reproduced without the express written consent. Interested buyers should be aware that the Seller is selling the Property “AS IS” CONDITION WITH ALL FAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE. Prior to and/or after contracting to purchase, as appropriate, buyer will be given a reasonable opportunity to inspect and investigate the Property and all improvements thereon, either independently or through agents of the buyer’s choosing. The Seller reserves the right to withdraw the Property being marketed at any time without notice, to reject all offers, and to accept any offer without regard to the relative price and terms of any other offer. Any offer to buy must be: (i) presented in the form of a non-binding letter of intent; (ii) incorporated in a formal written contract of purchase and sale to be prepared by the Seller and executed by both parties; and (iii) approved by Seller and such other parties who may have an interest in the Property. Neither the prospective buyer nor Seller shall be bound until execution of the contract of purchase and sale, which contract shall supersede prior discussions and writings and shall constitute the sole agreement of the parties. Prospective buyers shall be responsible for their costs and expenses of investigating the Property and all other expenses, professional or otherwise, incurred by them.
CBCWORLDWIDE.COM
Lucy Badwan
Joseph T. Hamdan
718.921.3100 x634 lucybadwanre@gmail.com
718.921.3100 jhamdan@cbreliable.com
RELIABLE REAL ESTATE