Bronx Modern Townhouses - Rare Find | 235 E 173rd St
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Bronx Modern Townhouses - Rare Find 235 E 173rd St
12 Unit Apartment Building $3,800,000 ($316,667/Unit) 1.48% Cap Rate Bronx, NY 10457
Investment Highlights
- Newer construction, Brick, High Cap Rate, Tax abatement of 13yrs in Place. Annual Property on 4 houses only $1,200. Buy Package or buy separately
- Full white Brick
- Close to everything: Public transportations, subways and City Buses. Close to major highways including New England Throughway, Close to Manhattan
Executive Summary
Huge Price Drop Again!! Investors' delight! Motivated Seller. All brick Town House with 3 modern apartment units. There are a total of four (4) Townhouses, each with asking Price of $950k, all with 3 modern residential Units. MLS numbers #6172983, #6173023, #6173027 & #6173031. Enjoy unlimited cash flow when you own these unique stainless properties. Enjoy an unusually low property tax on the entire 4 houses for only $1,200 per annum on all, as 25yrs tax abatement still exists, with 13 more years to go. Also, many of the apartments are currently rented below market value, offering room for increased yearly income. Each property features a 3-bedroom apartment, over 3 bedroom apartment, over 2 bedroom apartment on the walk-in level, with access to the backyard, with separate utilities. Tenants pay all utilities except water. NOI is $55,000 +. Call Listing Broker directly Danny at 917-292-2047. Each apartment rental increases every year between 2.5% - 5%. Don't miss out on this opportunity!
Financial Summary (Actual - 2021) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$62,000
|
$6.04
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$62,000
|
$6.04
|
| Taxes |
$400
|
$0.04
|
| Operating Expenses |
$6,425
|
$0.63
|
| Total Expenses |
$6,825
|
$0.67
|
| Net Operating Income |
$55,175
|
$5.38
|
Financial Summary (Actual - 2021)
| Gross Rental Income | |
|---|---|
| Annual | $62,000 |
| Annual Per SF | $6.04 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $62,000 |
| Annual Per SF | $6.04 |
| Taxes | |
|---|---|
| Annual | $400 |
| Annual Per SF | $0.04 |
| Operating Expenses | |
|---|---|
| Annual | $6,425 |
| Annual Per SF | $0.63 |
| Total Expenses | |
|---|---|
| Annual | $6,825 |
| Annual Per SF | $0.67 |
| Net Operating Income | |
|---|---|
| Annual | $55,175 |
| Annual Per SF | $5.38 |
Property Facts
Unit Amenities
- Cable Ready
- Dishwasher
- Eat-in Kitchen
- Double Pane Windows
Site Amenities
- Trash Pickup - Door to Door
- Maintenance on site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | $1,800 | - |
| 3+1 | 4 | $2,150 | - |
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Walk Score ®
Very Walkable (87)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Very Bikeable (70)
zoning
| Zoning Code | R8 (Potential Zoning allows from 10-20 stories higher on each Property. Please cross-check with your architect.) |
| R8 (Potential Zoning allows from 10-20 stories higher on each Property. Please cross-check with your architect.) |
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Bronx Modern Townhouses - Rare Find | 235 E 173rd St
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