1314 Seneca Ave
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1314 Seneca Ave
60 Unit Apartment Building For Sale Bronx, NY 10474
Investment Highlights
- Affordable Housing Opportunity with Value-Add Potential
- Beneficiary of an Article XI tax abatement
Executive Summary
• Contains 60 residential units and 2 occupied commercial units within approximately 65,137 gross square feet
• Recent approval of 610 amendment to existing regulatory agreement allows for significant revenue growth
• Beneficiary of an Article XI tax abatement, which has a term of 40 years and commenced in 2018 with the taxes being capped at 1% of gross rent until 2028 and 6.5% until 2058
• Convenient location near multiple subway stops (2/5/6). Westchester and other boroughs accessible via the Bruckner Expressway and Westchester Avenue.
• Apartment unit mix consists of 16 one-bedrooms, 26 two-bedrooms, 15 three-bedrooms, and 3 four-bedrooms
• Recent approval of 610 amendment to existing regulatory agreement allows for significant revenue growth
• Beneficiary of an Article XI tax abatement, which has a term of 40 years and commenced in 2018 with the taxes being capped at 1% of gross rent until 2028 and 6.5% until 2058
• Convenient location near multiple subway stops (2/5/6). Westchester and other boroughs accessible via the Bruckner Expressway and Westchester Avenue.
• Apartment unit mix consists of 16 one-bedrooms, 26 two-bedrooms, 15 three-bedrooms, and 3 four-bedrooms
Property Facts
| Sale Type | Investment | Lot Size | 0.34 AC |
| No. Units | 60 | Building Size | 65,137 SF |
| Property Type | Multifamily | No. Stories | 6 |
| Property Subtype | Apartment | Year Built | 1928 |
| Apartment Style | Mid Rise | Opportunity Zone |
Yes
|
| Building Class | C |
| Sale Type | Investment |
| No. Units | 60 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 65,137 SF |
| No. Stories | 6 |
| Year Built | 1928 |
| Opportunity Zone |
Yes |
Unit Amenities
- Dishwasher
- Heating
- Kitchen
Site Amenities
- On-Site Retail
- Maintenance on site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 30 | - | 850 |
| 2+1 | 18 | - | 1,000 |
| 3+1 | 12 | - | 1,100 - 1,811 |
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Walk Score ®
Walker's Paradise (90)
Transit Score ®
Rider's Paradise (97)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $330,273 | |
| Land Assessment | $25,232 | Total Assessment | $355,505 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$25,232
Improvements Assessment
$330,273
Total Assessment
$355,505
zoning
| Zoning Code | R6, Bronx, D7 |
| R6, Bronx, D7 |
-
Victor Sozio -
Branko Popovic -
Shimon Shkury -
Daniel Mahfar -
Jason M. Gold -
Jake Brody -
Erik Moloney -
Gabriel Elyaszadeh -
Ariel Property Advisors
(212) 544-9500
x12
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1314 Seneca Ave
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