931 – 935 E 179th Street

Building for Sale – 35 year Tax Abatement Owner/ Seller Financing Available! New Construction – 37 Units ( 19 One Bedrooms, 16 Two Bedrooms & 2 Studios) 12 Parking Spots ($250 a month each) Zoning – R7-1 Tenants Pay for Electricity and Base Board Heating Annual Income: Residential Rent – $1,019,820 Parking Spots – $36,000 ($250 a spot monthly) Washer & Dryer – $16,800 Annual Expenses: Property Taxes – $6,311 (421a Tax Abatement, 35 years) Gas & Hot Water -$28,000 Electric – $4,000 Insurance – $15,000 Water & Sewer – $26,000 Elevator Maintenance – $10,000 Mgmt fee – $30,000 Financial Summary: Gross Income- $1,072,620 Total Expenses- $119,311 Net Operating Income – $953,309