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$16,000,000 6 Story Elevator Brick apt Bldg, 32 apts (bronx)

Newly Built 6 Story Elevator Brick Apartment Building with 32 Apartments plus 2 Commercial Spaces.

Seller's Minimum Required Price $16,000,000

Potential Projected Income at Market Rents= $1,318,020

Potential Projected NOI: $1,146,317

Projected Cap Rate: 7.16%

 

DESCRIPTION: This Bronx multifamily brand newly built 6 story elevator brick apartment building located at 2761 Bronxwood Avenue is currently in the approval stages for the tax abatement as per rent roll. All 32 units will be part of the Augmented Tax Abatement program which provides for higher rents. Units must be rented via HPD approved programs such as Housing Connect, EHV Section 8, etc. All utilities are electric and not included in owners' expenses. Tenants will be responsible for cooking, heating, cooling, and hot water. Every apartment and every room with a window has its own through-the-wall sleeve electric air conditioner and heater, and also its own electric hot water boiler and tank for independent hot water. There is also 2 Commercial spaces - about 5,600 sq. ft., plus Parking for 15 spaces. 


Apartment Layout: 4 Studios, 25 One-Bedrooms and 3 Two-Bedrooms

 

Building Size: 33,242 Square Feet Total

BLOCK AND LOT 4514-30

35 year 421a real estate tax abatement

To view please call or text show contact info or email

post id: 7757342893

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