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TURN KEY 8.55% CAP, Projected 13.25% CAP 1124 Grant Ave

6 Unit Apartment Building $1,400,000 ($233,333/Unit) 9.21% Cap Rate Bronx, NY 10456

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Investment Highlights

FULLY RENOVATED
Non-for profit

Month to month tenants
ALT-1 play to 24 units

Executive Summary

Twelve Stones Realty is pleased to announce we have been retained to exclusively represent the sale of 1124 Grant Avenue, in the Concourse Section of the Bronx.
Currently, it is a 6,232 SF 3-story walk-up building consisting of 6 apartments and a 2-car garage
The building was completely GUT-RENOVATED in 2016 and is currently 100% occupied with NFP tenants.
The average rents are $2,271. And the gross income is $174,000 annually.
The property sits on a 35 x 100 R7-1 LOT with 16,800 buildable square feet. giving the ability to convert to a 24-unit building
The property is being offered at an 8.55% cap rate with an asking price of $1,500,000.
Projected 13.25% on lease renewals
Reuben Lugassy, Yaakov Pliner & Shaya Rosenberg will be handling this listing.

Financial Summary (Actual - 2023)	Annual	Annual Per SF
Gross Rental Income	$173,142	$27.78
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	$173,142	$27.78
Taxes	$20,582	$3.30
Operating Expenses	$23,675	$3.80
Total Expenses	$44,257	$7.10
Net Operating Income	$128,885	$20.68

Financial Summary (Actual - 2023)

Gross Rental Income
Annual	$173,142
Annual Per SF	$27.78

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	-
Annual Per SF	-

Effective Gross Income
Annual	$173,142
Annual Per SF	$27.78

Taxes
Annual	$20,582
Annual Per SF	$3.30

Operating Expenses
Annual	$23,675
Annual Per SF	$3.80

Total Expenses
Annual	$44,257
Annual Per SF	$7.10

Net Operating Income
Annual	$128,885
Annual Per SF	$20.68

Property Facts

Price	$1,400,000	Apartment Style	Low Rise
Price Per Unit	$233,333	Building Class	C
Sale Type	Investment	Lot Size	0.08 AC
Cap Rate	9.21%	Building Size	6,232 SF
Gross Rent Multiplier	8.6	Average Occupancy	100%
No. Units	6	No. Stories	3
Property Type	Multifamily	Year Built/Renovated	1935/2016
Property Subtype	Apartment Multifamily Dormitory	Parking Ratio	0.32/1,000 SF

Price	$1,400,000
Price Per Unit	$233,333
Sale Type	Investment
Cap Rate	9.21%
Gross Rent Multiplier	8.6
No. Units	6
Property Type	Multifamily
Property Subtype	Apartment Multifamily Dormitory
Apartment Style	Low Rise
Building Class	C
Lot Size	0.08 AC
Building Size	6,232 SF
Average Occupancy	100%
No. Stories	3
Year Built/Renovated	1935/2016
Parking Ratio	0.32/1,000 SF

Unit Amenities

Storage Space

Granite Countertops

Hardwood Floors

Unit Mix Information

Description	No. Units	Avg. Rent/Mo	SF
2+1	2	$2,063	880
3+1	4	$2,385	915

1 of 1

Walk Score ®

Very Walkable (89)

Transit Score ®

Rider's Paradise (100)

Bike Score ®

Very Bikeable (80)

What is a Walk Score®, Transit Score® & Bike Score®?

Walk Score® measures the walkability of any address.

Transit Score® measures access to public transit.

Bike Score® measures bikeability of a location.

What is a Walk Score®

, Transit Score® & Bike Score?

Walk Score® measures the walkability

of any address. Transit Score®

measures access to public transit. Bike Score®

measures bikeability of a location.®

Learn How It Works Detailed Scores

PROPERTY TAXES

Parcel Number	02449-0010	Total Assessment	$174,443 (2024)
Land Assessment	$10,591 (2024)	Annual Taxes	$20,582 ($3.30/SF)
Improvements Assessment	$163,852 (2024)	Tax Year	2023

PROPERTY TAXES

Parcel Number

02449-0010

Land Assessment

$10,591 (2024)

Improvements Assessment

$163,852 (2024)

Total Assessment

$174,443 (2024)

Annual Taxes

$20,582 ($3.30/SF)

Tax Year

2023

zoning

Zoning Code	R7-1 (R7 Zoning is considered medium density residential. It is broken into 2 basic zoning districts R7-1 and R7-2. R7 zoning has multifamily buildings that)
R7-1 (R7 Zoning is considered medium density residential. It is broken into 2 basic zoning districts R7-1 and R7-2. R7 zoning has multifamily buildings that)