19 E Cedar  

• Multi unit building in the heart of the Gold Coast listed at $2,990,000
• Multi Family, DR-3 Zoning
• 6 stories, 6 units total with elevator
• Built in 1911
• Approximately 11,236 sq ft
• Lot size 31.75 x 71.6
• 2007 taxes $21,444
• Total annual expenses $50,979
• Net Opertating Income $145,155
• Gross Rent Multiplier 15%
• Cap Rate 5
• Fuel Annually $15,900
• Electric Annually $ 1,175
• Features owners unit on top two floors and 5 one-bedroom rental units on the lower floors.
• Owner's Unit Rental Value of Approximately $10,000 per month
• The tenant washer and dryer are approximately 4 years old.
  The income from those machines is approximately $1,500.  This is owned by the building.
• There are two dishwashers and two disposals in the building.
• There are 7 wood burning fireplaces, no gas starters, in the building.  The first floor apartment does not have a fireplace.
• Chain link private storage unit in the basement is divided into two storage areas for the owner' s use.
• Roof covering is rubber.  
• Owners unit has an ADT security system.
• Tuck pointing was done in 1997.
•  No satellite dish.
•  Curb cuts were pre-existing prior to the current owner?s purchase.
•   Owners unit has dual heat and air.  It is supplied with heat from the building boiler and forced heat and air from the newer (2002) a/c unit on the roof. There is also another a/c unit on the roof for the owners unit, pre-existing.  There is only one hot water tank and that is brand new, April 2008.  The boiler is steam.  The first floor apartment has its own boiler which was replaced in 2001. 

·        Breakdown of A/C units for each apartment:

o      1F - 2a/c
2F - 2a/c
2R - 1a/c
3F - 1a/c
3R - 2a/c

• 1F - The first floor has kitchen, living room, bedroom and a bathroom.
• 2F - kitchen, dining room, living room, bedroom and a bathroom, and lots of storage and a walk in pantry
• 2R - bedroom, living room, kitchen, bathroom
• 3F - eat in kitchen, bathroom, bedroom, huge living room similar to our big room space
• 3R - bedroom, living room, kitchen, bathroom 
• No current elevator contract.
• New bathroom in the owners unit on the fifth level also radiant heated floors. 

Rent Roll

• 1F-  $1050 rent,  10-1-08 to 9-30-09,   security deposit $1050
• 2F-  $1500 rent,  7-04-08 to 6-30-09,   security deposit $1500
• 2R- $1090 rent,   7-01-08 to 6-30-09,   security deposit $1050
• 3F-  $1300 rent,   8-01-08 to 7-31-09,   security deposit $1250
• 3R-  $1199 rent,  10-01-08 to 9-30-09,  security deposit $1199