3641 Johnson Avenue

Description

Calling All Investors, Developers & End-Users!!! BRAND NEW 34,400+ Sqft. 26 Unit Apartment Building In Riverdale For Sale!!! The Building Features Excellent Signage, Great Exposure, 6 Parking Spaces, High 8' Ceilings, Strong R7A Zoning, Virtual Doorman, Security System, 2 Bicycle Rooms, Laundry Room, Elevator, Private Gated Driveway, Multi-level Terrace Area, Large Yard, Ramp, Garbage Chute, Sprinklers, All New LED Lighting, 3 Phase Power, CAC, +++!!! The Building Can Be Accessed By Key, Key Fob, Or Face ID!!! The Property Is Located In The Heart Of Riverdale Just Off The Henry Hudson Parkway Only Minutes From Riverdale Park, Manhattan University & Van Cortlandt Park!!! Neighbors Include Starbucks, Chase Bank, Wells Fargo Bank, Target, Stop & Shop, CubeSmart Self Storage, Wendy's, Subway, Bob's Discount Furniture, Liberty Tax, +++!!! The Building Was Built In 2019 & Has A 421a!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!! Income: Unit B-A (1 Br. Apt., 736 Sqft.): $38,400 Ann. Unit B-B (1 Br. Apt., 839 Sqft.): $40,800 Ann. (Available) Unit 1-A (1 Br. Apt., 784 Sqft.): $28,500 Ann. Unit 1-B (Studio Apt., 689 Sqft.): $32,400 Ann. Unit 1-C (1 Br. Apt., 792 Sqft.): $37,200 Ann. Unit 2-A (2 Br. Apt., 1,062 Sqft.): $43,200 Ann. Unit 2-B (1 Br. Apt., 971 Sqft.): $39,600 Ann. Unit 2-C (2 Br. Apt., 983 Sqft.): $31,800 Ann. Unit 3-A (2 Br. Apt., 1,042 Sqft.): $45,600 Ann. Unit 3-B (1 Br. Apt., 943 Sqft.): $28,500 Ann. Unit 3-C (2 Br. Apt., 987 Sqft.): $43,200 Ann. Unit 4-A (2 Br. Apt., 1,042 Sqft.): $48,000 Ann. Unit 4-B (1 Br. Apt., 943 Sqft.): $28,500 Ann. Unit 4-C (2 Br. Apt., 987 Sqft.): $44,400 Ann. Unit 5-A (2 Br. Apt., 1,042 Sqft.): $45,600 Ann. Unit 5-B (1 Br. Apt., 943 Sqft.): $39,600 Ann. Unit 5-C (2 Br. Apt., 987 Sqft.): $31,800 Ann. Unit 6-A (2 Br. Apt., 1,042 Sqft.): $45,600 Ann. Unit 6-B (1 Br. Apt., 943 Sqft.): $28,500 Ann. Unit 6-C (2 Br. Apt., 987 Sqft.): $44,400 Ann. Unit 7-A (2 Br. Apt., 871 Sqft.): $31,800 Ann. Unit 7-B (1 Br. Apt., 909 Sqft.): $40,800 Ann. Unit 7-C (2 Br. Apt., 987 Sqft.): $46,800 Ann. (Available) Unit 8-A (2 Br. Apt., 836 Sqft.): $31,800 Ann. Unit 8-B (1 Br. Apt., 909 Sqft.): $39,600 Ann. Unit 8-C (2 Br. Apt., 987 Sqft.): $46,800 Ann. Pro Forma Gross Income: $1,003,200 Ann. Expenses: Gas: $12,000 Ann. Electric: $24,000 Ann. Maintenance & Repairs: $3,800 Ann. Insurance: $8,300 Ann. Water & Sewer: $24,000 Ann. Taxes: $50,000 Ann. (Protected Until 2058!!!) Total Expenses: $122,100 Ann. Net Operating Income (NOI): $881,100 Ann. (Pro Forma 6.34 Cap!!!)