793 Utica Avenue

A 5K sf corner mixed used building with four, two-bedroom free-market apartments and four commercial units. All units are fully renovated with recent residential and commercial leases in place

PROPERTY TYPE

The property is a three-story mixed-use building located on the northeast corner of Utica Avenue and Linden Boulevard.

The building totals approximately 5,160 square feet and consists of four, two- bedroom free-market apartments and four commercial units. All units are fully renovated with recent residential and commercial leases in place. All commercial tenants pay their own water, electric and 25% of Real Estate taxes over the base year. Each commercial tenant is also responsible for 25% of the insurance for the building. The property benefits from ample lighting and over $200,000 in recent capital upgrades and improvements.

INCOME

Residential Annual Income: $87,300 per annum

Store Income:

Tenant #1:

Rent Current $19,800 to $22,200 over three years.

Tenant #2:

Rent Current $64,800 to $72,900 (Occupies two contiguous stores)

Tenant #3:

Rent Current $20,400 to $21,600 over two years

Total Commercial Income: $108,538

EXPENSES

[The commercial tenants pay 25% of real estate taxes above the base year and share 100% of the insurance for the building normally payable by landlord and 100% of water and sewer]