1 E Burnside Ave 12 Unit Apartment Building $2,500,000 ($208,333/Unit) 16.26% Cap Rate Bronx, NY 10453
INVESTMENT HIGHLIGHTS
- Heavy foot traffic
- Strong Retail Location
- Next to #6 subway E Burnside Stop
EXECUTIVE SUMMARY
Concourse Realty Partners has been exclusively retained to arrange the sale of two properties: a corner mixed-use building located at 1 East Burnside Avenue and a one story retail building 2056 Jerome Avenue in the Bronx. Spanning a total of 16,044 square feet, the buildings
contain 7 commercial units and 8 rent stabilized residential units. The retail spaces benefit from high foot traffic, located on a busy part of Burnside Avenue and Jerome Avenue.
contain 7 commercial units and 8 rent stabilized residential units. The retail spaces benefit from high foot traffic, located on a busy part of Burnside Avenue and Jerome Avenue.
PROPERTY FACTS
| Price | $2,500,000 |
| Price Per Unit | $208,333 |
| Sale Type | Investment |
| Cap Rate | 16.26% |
| Gross Rent Multiplier | 9.83 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 13,044 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1900 |
| Zoning | C4-4D - Allows for residential, commercial and community facility |
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Walk Score®
Walker's Paradise (93)
Transit Score®
Rider's Paradise (100)
PROPERTY TAXES
| Parcel Number | 03179-0001 | Improvements Assessment | $390,150 |
| Land Assessment | $24,120 | Total Assessment | $414,270 |
