25 Jan, 2021
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18 unit SRO (2 floors above store 2 bathrooms on each floor)(mostly vacant)(can be delivered vacant)
(5 occupied currently $400 monthly)(can raise $200+ each)
(DHCR shows $700+ per SRO)
(20% of SRO’s will pay / pay cash)
ground floor store is 1950$ (fully renovated by current lease) + 3% yearly increase
one 2BR 1400$
one 2BR 1400$ (not rent stable)
one 2BR 1300$ (not rent stable)
one 2BR 1200$ (not rent stable)
super 2BR 1000$ (not rent stable)
Current RR 123,000k
with all SRO’s rented at $600 a room (can get more) Projected $230,000k
total expenses 60k
water / sewer 5200
repair / maintenance / misc 14000
one block from the beach , new roof ,
down the street from brand new lux hotel , booming area
FREQUENTLY ASKED QUESTIONS
What is the total square footage of 1222 Rockaway beach?
1222 Rockaway beach totals 9,000 square feet.
When was this property built?
1222 Rockaway beach was built in 1930.