2086 Valentine Ave | Bronx, NY 10457
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2086 Valentine Ave
Bronx, NY 10457
NOA LIOR · Multifamily Property For Sale · 49 Units
Investment Highlights
- Strong Cash Flow
- 35 Year 421A Tax Abatement
- No Capital Expenditures Required
Executive Summary
New construction building in the Bronx, NY with that benefits from a 421A Tax Abatement for the next 35 years. Fully occupied property (all tenants on programs) with reliable cash flow with payments on the first of every month. Strong IRR return. $300k/door at asking price. (Brand new buildings are asking $350k+ currently) Actual 7% cap rate with no capital expenditures required.
PROPERTY FACTS
| Price Per Unit | $301,020 | Apartment Style | Mid Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 6.89% | Lot Size | 0.20 AC |
| Gross Rent Multiplier | 10.9 | Building Size | 38,304 SF |
| No. Units | 49 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 8 |
| Property Subtype | Apartment | Year Built | 2021 |
| Price Per Unit | $301,020 |
| Sale Type | Investment |
| Cap Rate | 6.89% |
| Gross Rent Multiplier | 10.9 |
| No. Units | 49 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | B |
| Lot Size | 0.20 AC |
| Building Size | 38,304 SF |
| Average Occupancy | 100% |
| No. Stories | 8 |
| Year Built | 2021 |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 49 | - | 2,976 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $2,446,200 | |
| Land Assessment | $89,763 | Total Assessment | $2,535,963 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$89,763
Improvements Assessment
$2,446,200
Total Assessment
$2,535,963
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. R7-1 has more parking requirements.) |
| R7-1 (R7 Zoning is considered medium density residential. It is broken into 2 basic zoning districts R7-1 and R7-2. R7-1 has more parking requirements.) |
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