5 unit multi-family with buildable 3-family lot...investigations including through appropriate third...
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KW COMMERCIAL
1155 Avenue of the Americas
New York, NY 10036TONY MAZZULLIAssociate Broker0 914.438.1476C 914.438.1476tony@kwcommercial.com
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 914.438.1476tony@kwcommercial.com
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
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
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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
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Tax Map
5 UNIT MULTI-FAMILY WITH BUILDABLE 3-FAMILY LOT 1 | PROPERTY INFORMATION
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Left Elevation
5 UNIT MULTI-FAMILY WITH BUILDABLE 3-FAMILY LOT 1 | PROPERTY INFORMATION
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Ground Floor Plan
5 UNIT MULTI-FAMILY WITH BUILDABLE 3-FAMILY LOT 1 | PROPERTY INFORMATION
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1st Floor Plan
5 UNIT MULTI-FAMILY WITH BUILDABLE 3-FAMILY LOT 1 | PROPERTY INFORMATION
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2nd Floor Plans
5 UNIT MULTI-FAMILY WITH BUILDABLE 3-FAMILY LOT 1 | PROPERTY INFORMATION
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3rd Floor Plans
5 UNIT MULTI-FAMILY WITH BUILDABLE 3-FAMILY LOT 1 | PROPERTY INFORMATION
LOCATION INFORMATION
2 | LOCATION INFORMATION
REGIONAL MAP
LOCATION MAPS
2LOCATION INFORMATION5 UNIT MULTI-FAMILY WITH BUILDABLE 3-FAMILY LOT
OFFERING MEMORANDUM
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5 Unit Multi-Family withBuildable 3-Family Lot
Regional Map
5 UNIT MULTI-FAMILY WITH BUILDABLE 3-FAMILY LOT 2 | LOCATION INFORMATION
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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
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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
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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
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