1. AREA NEW YORK PROUDLY PRESENTS “THE WARDS”
& WARD AVENUE BRONX, NY 10472

2. FINANCIAL OVERVIEW - THE WARDS
Residential Income
$1,582,481
Commercial Income
$339,636
Gross Income
$1,922,117
Total Expenses
$812,211
Net Operating Income
$1,109,906
BUILDING SUMMARY
Total # of Apartments
104
Total # of Rooms
333
Average Rent/Apartment/Month
$1,510
Average Rent/Room/Month
$470
PRICING
Price
$19,500,000
Price per unit
$187,500
Price per Sqft.
$203
Cap Rate 6%
GRM
10.15
THE WARDS
INFORMATION AT A GLANCE
AREA New York is proud to present “The WARDS”. The wards feature 104 apartments and 10 stores split between two buildings. They are located across from each other adjacently on the corner of Ward and Watson Avenue Ward avenue is comprised of 54 apartments, 6 stores, and has 52,815 sqft and Ward Avenue has 50 apartments, 4 stores and 43,200 sqft. The Wards present a tremendous upside value to any potential investor!
LOCATION
The Properties are located in Soundview, a working class neighborhood section of the Bronx. Soundview's distinguishing features are low-rise, semi-detached rowhouses. Soundview also contains five and six-story tenement buildings. The 6 train is very close and located at Elder, Morrison and St. Lawrence Avenue. There is also quick highway access to the Brucker Expressway and the Bronx River Parkway.

3. J51 TAX ABATEMENT & MCI APPLICATION SUBMITTED FOR ELECTRICAL
BUILDING SUMMARY WARD AVENUE
INCOME
CURRENT
PRO FORMA
Gross Potential Residential Rent
$772,906
$907,980
Gross Potential Commercial Rent
$169,167
Gross Income
$942,072.64
$1,077,147
Average Residential Rent/Month/Unit
$1,186.35
$1,397.48
EXPENSES
Poperty Taxes
$123,973
Fuel - Oil
$85,000
Insurance
$34,010
Water and Sewer
$51,000
Repairs and Maintenance
$25,000
Common Electric
$7,500
Super Salary
$28,600
Total Expenses
$355,083
Net Operating Income
$557,637
$694,453
LEASE STATUS ANALYSIS
UNIT BREAKDOWN
% OF TOTAL
TOTAL
AVG. RENT
Total Units 54
$1,408
Total RS Units
93% 50
$1,280
Total RC Units 0% $0
Total FM Units
Total Commercial 7% 4
$3,000
UNIT TYPE ANALYSIS
TYPE
STUDIO
10% 5
$928
1 BEDROOM
64% 32
$1,241
2 BEDROOM
20% 10
$1,298
3 BEDROOM 6% 3
$1,319
WARD AVENUE
BUILDING SUMMARY
J51 TAX ABATEMENT & MCI APPLICATION SUBMITTED FOR ELECTRICAL

4. 1111 WARD AVENUE | RESIDENTIAL RENT ROLL
UNIT #
LEASE STATUS
BEDROOMS
ROOMS
BATH
ACTUAL
LEGAL RENT
LEASE EXPIRATION 1A RS
1 Bedroom 3 1
$1,560.00
$1,983.61
4/30/2019 2A
2 Bedroom 4
$1,600.00
$2,058.00
3/31/2020 2B
$887.31
1/20/2021 2C
$1,224.00
7/31/2019 2D
$1,208.90
4/30/2020 2E
3 bedroom
$1,564.22
1/7/2021 2F
$744.15
9/30/2019 3A
$1,650.00
$2,516.56 3B
$1,016.20 3C
$1,581.00
$1,661.97
2/28/2019 3D
$1,300.00
$1,481.23
2/28/2021 3E
$567.85
11/30/2020 3F
$790.49
5/31/2019 4A
$1,691.43 4B
$1,250.00
$2,402.69 4C
$1,125.00
$1,550.06
4ED 5 2
$1,159.24
1/31/2021 4F
$984.40
5/31/2020 5A
$1,820.70 5B
$1,140.00
$1,320.92
1/31/2020 5C
$1,500.00
$1,968.49 5D
$955.00
$1,471.90 5E
$1,065.65
8/31/2020 5F
$1,225.00
$1,539.51

5. 1113 WARD AVENUE | RESIDENTIAL RENT ROLL
UNIT #
LEASE STATUS
BEDROOMS
ROOMS
BATH
ACTUAL
LEGAL RENT
LEASE EXPIRATION 1B RS
1 Bedroom 3 1
$1,420.27
8/31/2020 1C
2 Bedroom 4
$1,650.00
$1,791.86
5/31/2019 1D
Studio 2
$1,514.00
$1,968.70
3/31/2019 1E
$1,210.00
$1,298.57 1F
$1,080.60
4/30/2020 2G
$1,198.97
$1,243.35
6/30/2019 2H
3 bedroom 5
$1,836.00
$2,067.84
5/31/2020 2I
$2,105.17
4/14/2019 2J
$1,550.00
$1,791.37
2/28/2019 2K
$1,340.00
$1,884.80 3G
$1,300.00
$2,076.16
1/31/2021 3H
$2,067.96
1/31/2019 3I
$1,100.00
$1,788.98 3J
$1,175.00
$1,385.87 3K
$1,404.00
$1,672.51 4G
$1,500.00
$1,638.68
3/31/2020 4H
$987.89
11/30/2019 4I
$1,509.34
1/30/2020 4J
$1,415.00
$1,920.44
9/30/2019 4K
$1,455.00
$1,518.75
4/14/2020 5G
$1,202.30 5H
$708.63
$737.13
3/17/2017 5I
$1,160.00
$1,348.44
4/30/2019 5J
$1,372.30
$1,382.47
10/31/2019 5K
8/31/2019
BSMT
$1,612.82
MONTHLY RESIDENTIAL REVENUE
160 26
$64,408.80
$75,665.03
ANNUAL RESIDENTIAL REVENUE
$772,905.60
$907,980.36

6. 1111-1113 WARD AVENUE | COMMERCIAL RENT ROLL
STR1
$3,148
10/31/2020
STR2
$4,497
12/31/2024
STR3
$3,000
1/30/2024
STR3A
$1,650
4/30/2024
STR3B
$1,800
STR4
$1,352
MONTHLY COMMERCIAL REVENUE
$14,097.22
ANNUAL COMMERCIAL REVENUE
$169,166.64

7. ENTIRE ELECTRICAL SYSTEM UPDATED 2018
NEW DUAL FUEL BOILER INSTALLED: 2019

8. 1064-1068 WARD AVENUE BUILDING SUMMARY
BUILDING SUMMARY WARD AVENUE
INCOME
CURRENT
PRO FORMA
Gross Potential Residential Rent
$809,575
$820,527
Gross Potential Commercial Rent
$170,469
Gross Income
$980,044
$990,996
Average Residential Rent/Month/Unit
$1,245
$1,265
EXPENSES
Poperty Taxes
$192,952
Fuel - Oil
$100,000
Insurance
$38,176
Water and Sewer
$55,000
Repairs and Mantenance
$27,000
Common Electric
$5,400
Super Salary
$28,600
Total Expenses
$447,128
Net Operating Income
$524,101
$536,222
LEASE STATUS ANALYSIS
UNIT BREAKDOWN
% OF TOTAL
TOTAL
AVG. RENT
Total Units 60
$1,322
Total RS Units
94% 54
Total Commercial 6% 6
$2,017
UNIT TYPE ANALYSIS
TYPE
STUDIO
17% 9
$1,226
1 BEDROOM
54% 25
$1,169
2 BEDROOM
26% 17
$3064
3 BEDROOM 3% 2
$1,324
WARD AVENUE
BUILDING SUMMARY
SIX COMMERCIAL UNITS

9. 1064 WARD AVENUE | RESIDENTIAL RENT
UNIT #
LEASE STATUS
BEDROOMS
ROOMS
BATH
ACTUAL
LEGAL RENT
LEASE EXPIRATION
1A_2A RS
3 Bedroom 5 1
$815.67
2/28/2021 3A
1 Bedroom 3
$1,009.73
$1,029.92
8/31/2020 4A
Studio 2
$1,475.00
$1,572.57
8/31/2019 5A
$1,851.86
$1,865.58
12/31/2019 6A
2 Bedroom 4
$689.04
2/29/2020 1B
$950.44
8/31/2018 2B
$908.95
4/30/2020 3B
$838.67
3/31/2020 4B
$1,100.46
5/31/2019 5B
$1,625.55 6B
$1,522.77
7/31/2019 1C
$1,260.94
8/31/2016 2C
$1,600.00
$1,610.06 3C
$1,344.72
3/14/2020 4C
$1,115.54
2/28/2020 5C
$813.47
1/31/2020 6C
$814.62 1D
$1,283.77
$1,388.57
9/30/2020 2D
$905.40
10/31/2019 3D
$923.71 4D
$1,170.43
8/14/2020 5D
$885.55 6D
$1,665.68
11/30/2019 1E
$1,905.66 2E
$1,176.17
$1,176.71
4/30/2021 3E
$1,700.00
$1,786.45 4E
$1,222.98
2/28/2019 5E
$1,047.52 6E
$1,605.80
BSMT
$1,144.07
4/30/2019

10. 1068 WARD AVENUE | RESIDENTIAL RENT
UNIT #
LEASE STATUS
BEDROOMS
ROOMS
BATH
ACTUAL
LEGAL RENT
LEASE EXPIRATION 1A RS
1 Bedroom 3 1
$1,228.16
5/31/2019 2A
2 Bedroom 4
$1,504.66
4/30/2020 3A
Studio 2
$1,450.00
$1,572.57
4/30/2019 4A
$1,152.86
7/31/2020 5A
$1,360.37
10/31/2019 6A
$1,263.55
5/14/2020 1B
$1,200.07 2B
$1,418.50
1/31/2020 3B
$1,103.70
6/14/2019 4B
$1,177.09
2/29/2020 5B
$1,265.63
$1,323.28
6/30/2019 6B
$1,354.93
11/30/2019 1C
$1,188.73
10/14/2020 2C
$1,640.00
$1,734.00
1/31/2019 3C
$1,262.01 4C
$1,225.13
7/31/2019 5C
$1,227.66 6C
$1,286.77
7/14/2019 1D
$1,208.00
2/28/2020 2D
$1,723.83 3D
$1,400.00
9/30/2019 4D
$1,158.53 5D
$1,333.16
8/31/2020 6D
$1,262.76
MONTHLY RESIDENTIAL REVENUE
173 24
$67,464.61
$68,377.28
ANNUAL RESIDENTIAL REVENUE
$809,575.32
$820,527.36

11. 1064-11068 WARD AVENUE | COMMERCIAL RENT ROLL
UNIT #
RENT
LEASE EXPIRATION
1560
$3,355
8/31/2025
1562
$3,090
6/30/2027
1562-A
$1,476
12/31/2021
1564
$2,111
7/31/2022
1566
$2,074
9/30/2020
1566-A
$2,100
5/14/2020
MONTHLY COMMERCIAL REVENUE
$14,205.77
ANNUAL COMMERCIAL REVENUE
$170,469.24

13. 1 BEDROOMS STUDIOS 2 BEDROOMS 3 BEDROOMS
UPSIDE POTENTIAL
WARD AVENUE
UNIT TYPE
# OF UNITS
% OF TOTAL
TOTAL MONTHLY RENT
AVERAGE MONTHLY RENT
MARKET RENT
% UPSIDE POTENTIAL
STUDIO 14
10%
$4,644
$928
$1,800
64%
1 Bedroom 61
$39,735
$1,241
$1,508
19%
2 BEDROOM 24
20%
$12,980
$1,298
$1,988
42%
3 BEDROOM 5 6%
$4,560
$1,319
$2,413
59%
1 BEDROOMS
ADDRESS
MONTHLY RENT
1240 Morrison Avenue
$1,300
1250 Morrison Avenue
$1,700
1472 Watson Avenue
$1,400
1101 Fteley Avenue
$1,632
STUDIOS
ADDRESS
MONTHLY RENT
2010 Brucker Avenue
$1,500
2013 Brucker Avenue
1130 Fteley Avenue
$2,250
1146 Elder Avenue
$2,100
2 BEDROOMS
ADDRESS
MONTHLY RENT
1240 Morrison Avenue
$2,150
1190 C.W. Avenue
$2,000
1101 Boynton Avenue
$1,700
1144 Manor Avenue
$2,100
3 BEDROOMS
ADDRESS
MONTHLY RENT
1031 Elder Avenue
$2,300
1034 Elder Avenue
1032 Wheeler Avenue
$2,800
1130 Fteley Avenue
$2,250

15. William “Chip” Sims (917) 334-6235 Jamil Barrett (585) 479-0090
Please feel free to reach out with any questions you may have, we look forward to hearing from you!
Jamil Barrett
(585)