Current Properties

402 East 12th Street


Property 402 East 12th Street, located in the East Village Section of Manhattan.
Description Six story walkup with 16 apartments.
Date Purchased December 1993
Purchase Amount $696,000, including renovation costs.
Condition at time of Purchase Dilapidated and 90% vacant.
Repositioning Completely gut renovated the entire building. Converted 2 vacant stores into apartments. Increased existing rent roll to approximately $400,000.
Date Sold N/A – Still Owned
Estimated F.M.V $5,000,000.
Cash Distributions Since acquisition, 69% of the investors’ original capital investment has been returned. Investors for the past 12 years have consistently received, on a monthly basis, a 25% annual cash-on-cash return on their remaining capital investment.
Other Financial Benefits Any net mortgage refinance proceeds, as well as their share of the property’s substantial appreciation when the property is sold.

Contact Info

Rolling Cash Equity Group
1430 Broadway - 14th floor
New York, N.Y. 10018
Tel: 646-519-8490
Fax: 646-519-8494