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TeamLalaCRE.com
Exclusively Listed by RM Friedland LLC
--------------- CONTACT EXCLUSIVE AGENTS ---------------
This Mid-Century Bronx Elevator Building Has BeenWith The Same Family Since It Was Built 71 Years Ago- A 175 Footer With Large Apartments in Bedford Park -
FIRST SALEIN 71 YEARS
60Total Units
MID-CENTURYELEVATOR BUILDING
$759KGross
Income
Marco Lala • [email protected]
Jack Lala • [email protected]
Dave Raciti • [email protected]
Michelle Lala • [email protected]
Residential Rents @$343 /month /room$1,070 /month /unit
30 Minutes to MidtownManhattan via Metro North
Fordham Road Shopping& Transportation
Estimated 1,078 Square FootAverage Unit Size
Bedford ParkNeighborhood in the
North Bronx
2771 Bainbridge Ave, Bronx, NY 10458 (Parcel #: 03295-0070)
$314KNOI
LEGACY ASSET
Team Lala of RM Friedland is pleased to present this 175 foot wide mid-century elevator building in the Bronx's Bedford Park neighborhood. The property consists of 60 residential apartments and is located on the west side of Bainbridge Avenue just south of East 197th Street.
This stable, dignified and well maintained asset has been in the same family since it was constructed in 1949.
Features include: steel and glass entrance, terrazzo lobby floors, steel and terrazzo stairs, attractive and clean lobby with fireplace decor, boiler running on #4 oil, a dual fuel capable burner, a 5,000 gallon above ground oil tank, sprinklers in compacter and laundry rooms, three washing machines and three dryers.
Tenants enjoy a 30 minute commute to midtown Manhattan via the Metro North Fordham Station and there is an MTA D train station located a 5-10 minute walk from the subject property at Kingsbridge Road and the Grand Concourse. Fordham Road -also a short walk for tenants - is home to the largest shopping hub in the Bronx (NYC's third largest). From Webster Avenue to Jerome Avenue, hundreds of stores provide a variety of goods and services - from mom-and-pop shops to the convenience of big box stores.
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TeamLalaCRE.com
Exclusively Listed by RM Friedland LLC
BUILDING DETAILS BUILDING SQUARE FEET60 Total Units 73,500 Gross SF60 Residential Apts, No Retail Spaces No Est. Retail SFDimensions: 175 ft x 70 ft 1,078 SF Avg. Res. Apt.1 Buildings, 6 Stories, 1949 est. 12% common area lossElevator Apartment, Semi-fireproof without Stores, (D1)
PARCEL SIZE ZONING17,500 Square Feet R7B, R6B Zone175 ft x 100 ft 3.0 Max FAR
INCOME CurrentGross Scheduled Income (GSI) 759,488 less 3% Vacancy Allowance (22,785)Gross Operating Income (GOI) 736,704 less expenses (423,106)Net Operating Income 313,598 Capitalization Rate #VALUE!
ESTIMATED ANNUALIZED EXPENSESRE Tax $2,035 / unit (122,079) Water & Sewer $975 / res. u (58,500) Insurance $600 / res. u (36,000) Heat $1,083 / res. u #4 Oil (65,000) Utilities $0.25 / sq. ft. (18,375) Repairs/Maintenance $550 / unit (33,000) Payroll $950 / res. u Union (57,000)
FINANCING SCENARIO Year 1 Legal, Reserves & Misc. 1.5% of GOI (11,051) *Illustration only, without appreciation Management 3.0% of GOI (22,101) Interest Rate 3.750% Total Expenses 56% of GSI or $5.76/SF or $7,052/u (423,106) Amortization 30 years
#VALUE!#VALUE! UNIT MIX CURRENT MONTHLY INCOME
Annual Debt Service #VALUE! TYPE COUNT /ROOM /UNIT MIN MAX TOTAL
DSCR #VALUE!Cash Flow #VALUE! 2.0 rm 5 529 1,059 771 1,264 5,294Principal Recapture #VALUE! 3.0 rm 42 353 1,060 721 1,500 44,507
4.0 rm 12 278 1,112 686 1,585 13,340CASH ON CASH RETUR Year 1 Super 1 0Typical Return #VALUE! Laundry 150Self Mgmt. & 100% Occupied #VALUE!
TOTAL RETURN Year 1Typical Return #VALUE! Total Units 60 Total Monthly Income $63,291Self Mgmt. & 100% Occupied #VALUE! Residential Rents @ $343 /room, $1,070 /unit
--------------- CONTACT EXCLUSIVE AGENTS ---------------
#VALUE!#VALUE!
For Pricing Guidance Call Marco Lala @ 914-380-3806
Residential Rents @$343 /month /room$1,070 /month /unit
$314KNOI
$759KGross Income
73,500Total SF
60Total Units
Marco Lala • [email protected]
Jack Lala • [email protected]
Dave Raciti • [email protected]
Michelle Lala • [email protected]
FINANCIALSUMMARY
2771 Bainbridge Ave, Bronx, NY 10458(Parcel #: 03295-0070)
2771 Bainbridge Avenue - Offering Summary
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RMFriedland LLCInvestment Sales
2771 Bainbridge Avenue - Offering Summary
Images, MapsPage 4 of 6
RMFriedland LLCInvestment Sales
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2771 Bainbridge Avenue - Offering Summary
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RMFriedland LLCInvestment Sales
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2771 Bainbridge Avenue - Offering Summary
Rent RollPage 6 of 6
RMFriedland LLCInvestment Sales
UnitName Type
Legal Rent+ Any Charges
Scheduled Rent* P = Projected
UnitSize
RentMetrics
LeaseExpiration Notes
2771 Bainbridge1A stabilized $1,300.00 $1,300.00 3.0 rms $433/rm/mo Apr-20211B stabilized $822.34 $822.34 3.0 rms $274/rm/mo Nov-2020 SCRIE $213.081C stabilized $1,228.53 $1,228.53 4.0 rms $307/rm/mo Mar-20201D stabilized $1,208.16 $1,208.16 3.5 rms $345/rm/mo Sep-2021 DRIE $52.581F stabilized $1,152.60 $1,152.60 3.5 rms $329/rm/mo Sep-2021 SEC8 $1.053.601G stabilized $989.78 $989.78 3.5 rms $283/rm/mo Mar-20211H stabilized $1,345.24 $1,345.24 4.0 rms $336/rm/mo Oct-2021 Sec8 1,2151J stabilized $1,440.42 $1,278.24 3.0 rms $426/rm/mo1K stabilized $1,253.69 $1,253.69 3.0 rms $418/rm/mo2A stabilized $1,540.32 $1,000.00 3.0 rms $333/rm/mo Aug-20202B stabilized $1,160.05 $1,150.29 3.0 rms $383/rm/mo Sep-20202C stabilized $686.43 $686.43 4.5 rms $153/rm/mo Jul-20212D stabilized $992.82 $992.82 3.5 rms $284/rm/mo Jun-20202E stabilized $1,130.46 $1,130.46 2.5 rms $452/rm/mo Aug-20202F stabilized $1,309.62 $1,309.62 3.5 rms $374/rm/mo Apr-2021 HASA2G stabilized $1,039.79 $974.86 3.5 rms $279/rm/mo Feb-20202H stabilized $994.33 $994.33 4.0 rms $249/rm/mo Oct-20202J stabilized $867.82 $867.82 3.0 rms $289/rm/mo Oct-20212K stabilized $1,000.26 $1,000.26 3.0 rms $333/rm/mo Feb-2022 SEC8 $181.263A stabilized $816.42 $816.42 3.0 rms $272/rm/mo Feb-2022 SCRIE $31.703B stabilized $1,007.16 $1,007.16 3.0 rms $336/rm/mo Oct-20213C stabilized $1,184.43 $1,184.43 4.5 rms $263/rm/mo May-2021 SCRIE $43.373D stabilized $1,035.98 $1,035.98 3.5 rms $296/rm/mo Oct-2020 SEC8 $492.983E stabilized $770.58 $770.58 2.0 rms $385/rm/mo Jul-20203F stabilized $1,402.51 $1,251.10 3.5 rms $357/rm/mo Oct-20203G stabilized $870.56 $870.56 3.5 rms $249/rm/mo Aug-20203H stabilized $951.07 $951.07 4.0 rms $238/rm/mo Oct-20203J stabilized $1,037.97 $1,037.97 3.0 rms $346/rm/mo Mar-20203K stabilized $954.14 $954.14 3.0 rms $318/rm/mo Jul-2020 SCRIE $4504A stabilized $1,172.27 $1,172.27 3.0 rms $391/rm/mo Jun-2021 Sec8 $1,001.274B stabilized $1,069.03 $1,069.03 3.0 rms $356/rm/mo May-20204C stabilized $1,238.21 $1,238.21 4.5 rms $275/rm/mo Nov-20204D stabilized $1,063.51 $1,063.51 3.5 rms $304/rm/mo Feb-20214E stabilized $1,154.24 $1,154.24 2.0 rms $577/rm/mo Apr-20204F stabilized $1,099.44 $1,099.44 3.5 rms $314/rm/mo Oct-20214G stabilized $1,068.32 $1,068.32 3.5 rms $305/rm/mo Jan-20224H stabilized $1,584.84 $1,584.84 4.0 rms $396/rm/mo Apr-2020 SEC8 4J stabilized $1,125.57 $1,125.57 3.0 rms $375/rm/mo Jul-20204K stabilized $833.06 $833.06 3.0 rms $278/rm/mo Apr-20205A stabilized $1,154.10 $1,154.10 3.0 rms $385/rm/mo May-20205B stabilized $847.63 $847.63 3.0 rms $283/rm/mo Jan-20225C stabilized $1,395.59 $1,174.88 4.5 rms $261/rm/mo Jan-20225D stabilized $969.42 $969.42 3.5 rms $277/rm/mo Jul-2021 HASA5E stabilized $1,264.06 $1,264.06 2.0 rms $632/rm/mo Dec-20215F stabilized $1,119.53 $1,119.53 3.5 rms $320/rm/mo Oct-20205G stabilized $1,064.09 $1,064.09 3.5 rms $304/rm/mo Jul-20205H stabilized $983.67 $983.67 4.0 rms $246/rm/mo Apr-20215J stabilized $1,287.09 $1,287.09 3.0 rms $429/rm/mo Aug-2021 SEC8 $1,115.095K stabilized $1,284.79 $1,284.79 3.0 rms $428/rm/mo Dec-2020 SEC8 $1,281.796A stabilized $1,213.89 $1,213.89 3.0 rms $405/rm/mo Oct-2021 SEC8 $1,048.896B stabilized $720.50 $720.50 3.0 rms $240/rm/mo Feb-20226C stabilized $995.20 $995.20 4.5 rms $221/rm/mo Jan-20226D stabilized $999.98 $999.98 3.5 rms $286/rm/mo Mar-20216E stabilized $974.40 $974.40 2.0 rms $487/rm/mo Nov-20206F stabilized $847.11 $847.11 3.5 rms $242/rm/mo Dec-2020 SEC8 $695.116G stabilized $1,068.60 $1,068.60 3.5 rms $305/rm/mo Mar-20206H stabilized $972.97 $972.97 4.0 rms $243/rm/mo Jul-20206J stabilized $725.42 $725.42 3.0 rms $242/rm/mo Apr-20206K stabilized $1,500.00 $1,500.00 3.0 rms $500/rm/mo Oct-2020
Laundry Laundry $150.00 $150.00 Bsmt Super $0.00 4.5 rmsOther $0.00
TOTAL 60 Units $64,440.01 $63,290.70 200.5 rms $322/rm/mo Scheduled Annual Rent: $759,488
