Description

Calling All Investors, Developers & End-Users!!! 16, 896 Sqft. 20 Unit Apartment Building With Private Gated Parking In The Bronx For Sale!!! The Building Features Excellent Signage, Great Exposure, Low Property Taxes, 13 Parking Spaces In a Private Gated Lot, Bicycle Storage, Basement, High 8’ Ceilings, Strong R5D Zoning, All New LED Lighting, Separate Meters, 3 Phase Power, Sprinklers, A/C, +++!!! The Property Is Located In The Heart Of The Bronx Just Minutes From The Bronx River Parkway Off E. Gun Hill Road!!! Neighbors Include Toyota, Nissan, YMCA, The Home Depot, L.A. Fitness, Macy’s, Dunkin’, Walgreens, Wendy’s, Aldi, IHOP, KFC, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or Be The Next Home For Your Business!!!Income:Apt. 1A: $28, 359 Ann.; Lease Exp.: 7/31/26. Legal Rent: $38, 962.80 Ann. Apt. 1B: $28, 359 Ann.; Lease Exp.: 9/14/26. Legal Rent: $38, 962.80 Ann. Apt. 2A: $28, 975.44 Ann.; Lease Exp.: 7/31/26. Legal Rent: $38, 962.80 Ann. Apt. 2B: $28, 122.24 Ann.; Lease Exp.: 8/31/26.Legal Rent: $36, 373.44 Ann. Apt. 2C: $31, 651.08 Ann.; Lease Exp.: 7/31/26. Legal Rent: $46, 545.72 Ann. Apt. 2D: $29, 680.44 Ann.; Lease Exp.: 9/30/25.Legal Rent: $38, 962.80 Ann. Apt. 2E: $28, 910.04 Ann.; Lease Exp.: 9/30/26. Legal Rent: $28, 910.04 Ann. Apt. 2F: $33, 291 Ann.; Lease Exp.: 8/31/26.Legal Rent: $46.545.72 Ann. Apt. 3A: $28, 359 Ann.; Lease Exp.: 7/31/26. Legal Rent: $38, 962.80 Ann.Apt. 3B: $29, 427.84 Ann.; Lease Exp.: 9/31/26. Legal Rent: $36, 373.44 Ann.Apt. 3C: $30, 804 Ann.; Lease Exp.: 11/30/25.Legal Rent: $30, 804 Ann.Apt. 3D: $28, 359 Ann.; Lease Exp.: 9/4/26.Legal Rent: $38, 962.80 Ann.Apt. 3E: $28, 428 Ann.; Lease Exp.: 7/31/25.Legal Rent: $39, 057.60 Ann. Apt. 3F: $31, 651.08 Ann. ; Lease Exp.: 9/30/26. Legal Rent: $31, 651.08 Ann.Apt. 4A: $28, 543.92 Ann.; Lease Exp.: 7/31/26.Legal Rent: $38, 962.80 Ann.Apt. 4B: $26, 988 Ann.; Lease Exp.: 7/31/25Legal Rent: $26, 988 Ann. Apt. 4C: $30, 804 Ann.; Lease Exp.: 1/14/25.Legal Rent: $30, 804 Ann. Apt. 4D: $40, 416 Ann.; Lease Exp.: 9/30/26.Legal Rent: $50, 520 Ann. Apt. 4E: $28, 292.04 Ann.; Lease Exp.: 9/30/25. Legal Rent: $28, 292.04 Ann.Apt. 4F: $32, 754 Ann.; Lease Exp.: 8/31/25. Legal Rent: $46, 545.72 Ann.Total Gross Rent: $602, 175.12 Ann. Total Legal Rent: $752, 150.40 Ann. Expenses:Electric: $6, 000 Ann. (Common Area Only)Heat/Hot Water: $14, 000 Ann. Insurance: $14, 500 Ann. Water/Sewer: $12, 000 Ann.Taxes: $2, 651.68 Ann. (Protected For The Next 34 Years)Total Expenses: $49, 151.68 Ann. Current Gross Income: $602, 175.12 Ann.Pro Forma Gross Income: $752, 150.40 Ann.Current Net Operating Income (NOI): $553, 023.44 Ann. (8.25% Cap)Pro Forma Net Operating Income (NOI): $702, 998.72 Ann. (9.63% Cap)