The Free Market Portfolio, Bushwick | Ridgewood | Bedford-Stuyvesant, Brooklyn & Queens, NY

Bushwick, Bedford Stuyvesant, Brooklyn, Queens, New York 11237, 11385, 11237

$11,250,000  

Listing ID Number

25292

Property Description

Cushman & Wakefield has been retained on an exclusive basis to sell The W Equities Portfolio, a high yield portfolio of renovated buildings located across Bushwick and Ridgewood. In total, the free market portfolio is comprised of 5 properties, 60+ bedrooms, and approximately 18,600 SF. Each building is well located with immediate access to transportation as well as multiple retail amenities. The wide unit layouts are unique, with significant bedroom and bathroom counts, separating them from most rentals on the market.

Collectively, the portfolio is yielding over $800,000 in annual gross revenue, presenting a rare combination of scale and return, usually difficult to achieve in a single purchase. The portfolio’s 19 units are split between 17 large residential apartments and 2 prime commercial units. The residential unit mix consists of one (1) two-bedroom, eight (8) three-bedroom, four (4) four-bedroom, and four (4) five-bedroom apartment units. All 17 units have been gut-renovated to a high standard with washer dryers and a great bathrooms to bedroom ratios. This is a great opportunity to take advantage of solid cash on cash return and even better levered return, with interest rates still be offered below 4%.

Overview

Building Type:Apartment Buildings, Live Plus Income Buildings, Mixed-Use Investment Buildings
Lot Sq Ft:9,384
Buildable Sq. Ft:17,018
Units:19
Residential Units:17
Commercial Units:2
Assessment Value:$181,459
Taxes:$28,259
Building Sq Ft:18,600

Expenses

Total Annual Expenses:$158,192

Investment Information

Gross Monthly Income:$690,450
Gross Annual Income:$828,597
Less Total Expenses:$158,192
Net Operating Income:$670,405

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

DJ Johnston
Director
(718) 307 6515
dj.johnston@cushwake.com

Thomas A. Donovan
Vice Chairman
(718) 512 2626
tom.donovan@cushwake.com

Bryan Kirk
Associate
(718) 307 6516
bryan.kirk@cushwake.com

Tommy C. Lin
Director
(718) 512 2609
tommy.lin@cushwake.com

William Cheng
Director
(718) 606 7037
william.cheng@cushwake.com


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Aerial View


The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.