1643-1645 Popham Avenue
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1643-1645 Popham Avenue
2 Multifamily Properties Offered at $5,250,000 in Bronx, NY
Investment Highlights
- Potential upside upon lease turnover with new subsidy payment standards totaling $2,696 for one-bedroom apartments
- Enjoys easy access to transportation, being a quick walk away from the 4 subway line at Mount Eden Ave Station
- Existing Loan of $3,829,000 at a 3.79% interest rate. Maturity Date in 2030
Executive Summary
Two (2) multifamily properties constructed in 2016 located in the Morris Heights section of the Bronx.
Two (2), 4-story, 9-unit walk-up buildings totaling 15,224 SF. Each building enjoys free market status, containing nine (9) one-bedroom units. 2B tax classification, offering protection from future tax increases.
Potential upside upon lease turnover with new subsidy payment standards totaling $2,584 for one-bedroom apartments with
tenants paying for gas & electric.
Two (2), 4-story, 9-unit walk-up buildings totaling 15,224 SF. Each building enjoys free market status, containing nine (9) one-bedroom units. 2B tax classification, offering protection from future tax increases.
Potential upside upon lease turnover with new subsidy payment standards totaling $2,584 for one-bedroom apartments with
tenants paying for gas & electric.
Property Facts
| Price | $5,250,000 | Number of Properties | 2 |
| Price / SF | $344.85 / SF | Individually For Sale | 0 |
| Cap Rate | 5.91% | Total Building Size | 15,224 SF |
| Sale Type | Investment | Total Land Area | 0.12 AC |
| Status | Active |
| Price | $5,250,000 |
| Price / SF | $344.85 / SF |
| Cap Rate | 5.91% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 15,224 SF |
| Total Land Area | 0.12 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 1645 Popham Ave, Bronx, NY 10453 | Multifamily | 7,832 SF | 2016 | - |
| 1643 Popham Ave, Bronx, NY 10453 | Multifamily | 7,392 SF | 2016 | - |
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Contacts
-
Daniel Mahfar -
Jason M. Gold -
Jake Brody -
Gabriel Elyaszadeh -
Ariel Property Advisors
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1643-1645 Popham Avenue
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