ZONED COMMERCIAL/INDUSTRIAL Investment Real Estate at Auction

Turnkey 5 Unit Real Estate Auction!

Friday October 14, 2011 @ 6:30 PM * Preview Begins @ 5:30 PM

Auction held On-Site: 700 North St. Endicott, NY 13760 (Broome County) (Town of Union)

Same owner for 21 YEARS!* Zoning will allow numerous commercial businesses!

*Current Owners Live Out of State*

DIRECTIONS: From 17C/Rte 26 in Endicott: take Park St. (.2) miles to RIGHT on Harrison Ave. Go (.3) miles to LEFT on North St. to auction on LEFT.

Real Estate Open House: Monday October 10 from 4:30- 6 PM.

Real Estate: 700 North St: 5 unit cash flow investment property NETTING OVER $12,000 PER YEAR in INCOME ! ! ! Zoned Apartment building w/ Landlord paying utilities w/ (5) apartment units (4) 2 BR unit & (1) 1 BR unit! 4,089 RENTABLE SQFT AREA! Heat paid by owner w/ one computerized thermostat in the basement controlled by the landlord! Provides a gross yearly income of: $22,165 & a YEARLY NET INCOME OF $12,157. Adequate Parking spaces included.

Sells FULLY RENTED as a TURN-KEY money making operation with month to month rents in place and very low maintenance costs. Completely updated w/ brand new vinyl siding, storm windows, 40 x 120 lot, gravel driveway, mostly newer appliances, good roof, appliances included in the sale and located in a high rent zone.

Zoning will allow many commercial uses! ! ! Possible professional offices, car wash etc. For info on possible commercial zoning call any code enforcer at 607.757.2465.

• Photos

CASH FLOW PRO FORMA:

Income:
Apt 1 (1st floor front 2 BR)= $375/ month
Apt 2 (1st floor rear 2 BR)= $450/ month
Apt 3 (2nd floor front 2 BR)= $390/ month
Apt 4 (2nd floor rear 1 BR)= $375/ month
Apt 5 (3rd floor 2 BR)= $425/ month

Total= $2015/ month = $24,180/ year

Less vacancy factor = $2015 = gross rent per year =

$22,165 GROSS INCOME

Annual Expenses:

Taxes- $2,633
Heat/ Gas & Electric -$4,200
Insurance- $688
Repairs/ Snow Removal/ Improvements & Maintenance- $1,500
Water/Sewer/garbage-$987 (billed twice annually Dec/June)

Total Annual Expenses - $10,008

Net Operating Profit- $12,157 ! ! ! !

Rate of return= operating profit/ possible purchase price. Note: At a $100,000 purchase price the rate of return is 12%. At a $150,000 purchase price the rate of return is 8%. At a $60,000 purchase price the rate of return is OVER 20%. Etc.

Bid your price! Investors from out of town can purchase this property and hire a property manager and still make money! INVEST IN REAL ESTATE!!!

Apartment 1: 2 BR, 1 Full Bath w/ tile floor, LR w/ built in shelves & eat in Kitchen w/ Refr & Stove: Currently rented month to month for 375. Landlord pays utilities. Landlord has access to only thermostat.

Apartment 2: 2 BR, 1 Full Bath, LR & Kitchen w/ stove & refr. Currently rented month to month for $450. Landlord pays utilities. Landlord has access to only thermostat in basement.

Apartment 3: 2 BR, 1 Full Bath, LR & Kitchen w/ lin. Floor, stove & refr. Currently rented month to month for $390. Landlord pays utilities. Landlord has access to only thermostat in basement.

Apartment 4: 1 BR, 1 Full Bath, LR & Kitchen w/ stove & refr. Currently rented month to month for $375. Landlord pays utilities. Landlord has access to only thermostat in basement.

Apartment 5: 2 BR, 1 Full Bath, LR & Kitchen w/ stove & refr. New bath room. Currently rented month to month for $425. Landlord pays utilities. Landlord has access to only thermostat in basement.

Basement: Stone foundation walls in excellent condition, Heil NG furnace w/ computerized thermostat control, New 40 gallon hot water heater, concrete floor, 100 amp elec. service & plentiful storage .

Tax map #: (157.06-2-29) Built in 1940 w/ 4,098 rentable SQFT, total assessed @ $56,433, property class= Apartment- Zoning Code: 411- multi family. Union- Endicott school district, Town of Union, Village of Endicott. 2011 Taxes: Town & County= $483. School: $1301; Village: $848. TOTAL TAXES: $2,633.

Sells w/ public water, public sewer, gas & electric utilities, concrete sidewalk, corner lot, porches, new vinyl siding(2010), insulated, easily rented, recent improvements, floors carpeted & vinyl, forced air heat & plentiful off St. parking! !

Zogg Brothers Note: An outstanding opportunity to buy a 5 family investment home at AUCTION in the Binghamton, NY area. The work has been done to make this investment property a MONEY MAKER! Same owner for 21 years ! Come and bid your price the AUCTION WAY! Broome County, NY Auction. Binghamton, NY auctioneer. Binghamton, NY auctioneers. Real estate auction Binghamton, NY. Real estate auction Broome county, NY. Endicott, NY auction.