27 Buchanan Pl
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27 Buchanan Pl
25 Unit Apartment Building $8,488,000 ($339,520/Unit) 6.96% Cap Rate Bronx, NY 10453
Investment Highlights
- Calling All Investors, Developers & End-Users!!! 20,858 Sqft. 26 Unit Corner Apartment Building With Private Gated Parking For Sale!!!
- The Property Is Located In The Heart Of The Bronx Just Minutes From The Major Deegan Expy. Right Near Bronx Community College!!!
- The Property Has A Fixed Rate Assumable Mortgage With 11 Years Left!!!
- The Building Features Excellent Signage, Great Exposure, Low Property Taxes, 12 Parking Spaces In Private Gated Lot, High 9’ Ceilings, R7-1 Zoning, +!
- Neighbors Include Toyota, YMCA, The Home Depot, Planet Fitness, Extra Space Storage, Dunkin’, Walgreens, Best Buy, Chick-fil-A, AutoZone, +++!!!
- This Property Offers HUGE Upside Potential!!!
Executive Summary
Calling All Investors, Developers & End-Users!!! 20,858 Sqft. 26 Unit Corner Apartment Building With Private Gated Parking For Sale!!! The Building Features Excellent Signage, Great Exposure, Low Property Taxes, 12 Parking Spaces In Private Gated Lot, High 9’ Ceilings, Strong R7-1 Zoning, Elevator, All New LED Lighting, 3 Phase Power, Sprinklers, Separate Meters, A/C, +++!!! The Property Is Located In The Heart Of The Bronx Just Minutes From The Major Deegan Expy. Right Near Bronx Community College!!! Neighbors Include Toyota, YMCA, The Home Depot, Planet Fitness, Extra Space Storage, Dunkin’, Walgreens, Best Buy, Chick-fil-A, AutoZone, Marshalls, Taco Bell, Mattress Firm, Burlington, Old Navy, Lukoil, +++!!! The Property Has A Fixed Rate Assumable Mortgage With 11 Years Left!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or Be The Next Home For Your Business!!!
Income:
Apt. 2A: $24,018.84 Ann.; Lease Exp.: 9/30/25.
Apt. 2B: $21,646.80 Ann.; Lease Exp.: 8/31/24.
Apt. 2C: $22,713.24 Ann.; Lease Exp.: 9/30/24.
Apt. 2D: $22,713.24 Ann.; Lease Exp.: 9/30/24.
Apt. 3A: $22,679.52 Ann.; Lease Exp.: 10/31/25.
Apt. 3B: $21,234.48 Ann.; Lease Exp.: 10/31/24.
Apt. 3C: $20,652.72 Ann.; Lease Exp.: 9/30/25.
Apt. 3D: $22,500.12 Ann.; Lease Exp.: 11/30/24.
Apt. 3E: $24,135.72 Ann.; Lease Exp.: 7/31/24.
Apt. 4A: $22,610.88 Ann.; Lease Exp.: 10/31/24
Apt. 4B: $21,182.88 Ann.; Lease Exp.: 10/31/24
Apt. 4C: $21,375.72 Ann.; Lease Exp.: 2/28/25.
Apt. 4D: $22,123.80 Ann.; Lease Exp.: 11/30/24.
Apt. 4E: $24,644.52 Ann.; Lease Exp.: 9/30/25.
Apt. 5A: $22,610.88 Ann.; Lease Exp.: 11/30/24.
Apt. 5B: $22,680 Ann.; Lease Exp: 9/30/24.
Apt. 5C: $21,843.60 Ann.; Lease Exp.: 9/30/24.
Apt. 5D: $22,070.16 Ann.; Lease Exp.: 9/30/25.
Apt. 5E: $24,498 Ann.; Lease Exp.: 5/31/24.
Apt. 6A: $22,455.36 Ann.; Lease Exp.: 9/30/25.
Apt. 6B: $22,455.52 Ann.; Lease Exp.: 9/30/25.
Apt. 6C: $26,319 Ann. (Available)
Apt. 6D: $25,312.56 Ann.; Lease Exp.: 9/30/24.
Apt. 7A: $24,704.52 Ann.; Lease Exp.: 9/30/24.
Apt. 7B: $22,610.88 Ann.; Lease Exp.: 9/30/24.
Total Rent: $571,792.96 Ann.
9 Parking Spaces: $24,000 Ann.
Community Facility: $38,400 Ann. (Available)
Expenses:
Electric: $9,628 Ann. (Common Area Only)
Heat/Hot Water: $18,000 Ann.
Insurance: $11,000 Ann.
Water/Sewer: $22,000 Ann.
Maintenance & Repairs: $8,800 Ann. (Building Is Only 4 Years Old)
Taxes: $391.44 Ann. (Protected Until 2055!)
Total Expenses: $69,819.44 Ann.
Pro Forma Gross Income: $634,192.96 Ann.
Pro Forma Net Operating Income (NOI): $564,373.52 Ann.
Income:
Apt. 2A: $24,018.84 Ann.; Lease Exp.: 9/30/25.
Apt. 2B: $21,646.80 Ann.; Lease Exp.: 8/31/24.
Apt. 2C: $22,713.24 Ann.; Lease Exp.: 9/30/24.
Apt. 2D: $22,713.24 Ann.; Lease Exp.: 9/30/24.
Apt. 3A: $22,679.52 Ann.; Lease Exp.: 10/31/25.
Apt. 3B: $21,234.48 Ann.; Lease Exp.: 10/31/24.
Apt. 3C: $20,652.72 Ann.; Lease Exp.: 9/30/25.
Apt. 3D: $22,500.12 Ann.; Lease Exp.: 11/30/24.
Apt. 3E: $24,135.72 Ann.; Lease Exp.: 7/31/24.
Apt. 4A: $22,610.88 Ann.; Lease Exp.: 10/31/24
Apt. 4B: $21,182.88 Ann.; Lease Exp.: 10/31/24
Apt. 4C: $21,375.72 Ann.; Lease Exp.: 2/28/25.
Apt. 4D: $22,123.80 Ann.; Lease Exp.: 11/30/24.
Apt. 4E: $24,644.52 Ann.; Lease Exp.: 9/30/25.
Apt. 5A: $22,610.88 Ann.; Lease Exp.: 11/30/24.
Apt. 5B: $22,680 Ann.; Lease Exp: 9/30/24.
Apt. 5C: $21,843.60 Ann.; Lease Exp.: 9/30/24.
Apt. 5D: $22,070.16 Ann.; Lease Exp.: 9/30/25.
Apt. 5E: $24,498 Ann.; Lease Exp.: 5/31/24.
Apt. 6A: $22,455.36 Ann.; Lease Exp.: 9/30/25.
Apt. 6B: $22,455.52 Ann.; Lease Exp.: 9/30/25.
Apt. 6C: $26,319 Ann. (Available)
Apt. 6D: $25,312.56 Ann.; Lease Exp.: 9/30/24.
Apt. 7A: $24,704.52 Ann.; Lease Exp.: 9/30/24.
Apt. 7B: $22,610.88 Ann.; Lease Exp.: 9/30/24.
Total Rent: $571,792.96 Ann.
9 Parking Spaces: $24,000 Ann.
Community Facility: $38,400 Ann. (Available)
Expenses:
Electric: $9,628 Ann. (Common Area Only)
Heat/Hot Water: $18,000 Ann.
Insurance: $11,000 Ann.
Water/Sewer: $22,000 Ann.
Maintenance & Repairs: $8,800 Ann. (Building Is Only 4 Years Old)
Taxes: $391.44 Ann. (Protected Until 2055!)
Total Expenses: $69,819.44 Ann.
Pro Forma Gross Income: $634,192.96 Ann.
Pro Forma Net Operating Income (NOI): $564,373.52 Ann.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$571,793
|
$31.35
|
| Other Income |
$62,400
|
$3.42
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$634,193
|
$34.77
|
| Taxes |
$391
|
$0.02
|
| Operating Expenses |
$69,428
|
$3.81
|
| Total Expenses |
$69,819
|
$3.83
|
| Net Operating Income |
$564,374
|
$30.94
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $571,793 |
| Annual Per SF | $31.35 |
| Other Income | |
|---|---|
| Annual | $62,400 |
| Annual Per SF | $3.42 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $634,193 |
| Annual Per SF | $34.77 |
| Taxes | |
|---|---|
| Annual | $391 |
| Annual Per SF | $0.02 |
| Operating Expenses | |
|---|---|
| Annual | $69,428 |
| Annual Per SF | $3.81 |
| Total Expenses | |
|---|---|
| Annual | $69,819 |
| Annual Per SF | $3.83 |
| Net Operating Income | |
|---|---|
| Annual | $564,374 |
| Annual Per SF | $30.94 |
Property Facts
| Price | $8,488,000 | Building Class | B |
| Price Per Unit | $339,520 | Lot Size | 0.11 AC |
| Sale Type | Investment | Building Size | 18,240 SF |
| Cap Rate | 6.96% | Average Occupancy | 100% |
| No. Units | 25 | No. Stories | 7 |
| Property Type | Multifamily | Year Built | 2020 |
| Property Subtype | Apartment | Parking Ratio | 0.66/1,000 SF |
| Apartment Style | Mid Rise | Opportunity Zone |
Yes
|
| Price | $8,488,000 |
| Price Per Unit | $339,520 |
| Sale Type | Investment |
| Cap Rate | 6.96% |
| No. Units | 25 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | B |
| Lot Size | 0.11 AC |
| Building Size | 18,240 SF |
| Average Occupancy | 100% |
| No. Stories | 7 |
| Year Built | 2020 |
| Parking Ratio | 0.66/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Cable Ready
- Disposal
- Hardwood Floors
- Refrigerator
- Views
Site Amenities
- Bicycle Storage
Walk Score ®
Walker's Paradise (92)
Transit Score ®
Rider's Paradise (100)
PROPERTY TAXES
| Parcel Number | 03196-0066 | Total Assessment | $885,870 |
| Land Assessment | $109,800 | Annual Taxes | $391 ($0.02/SF) |
| Improvements Assessment | $776,070 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
03196-0066
Land Assessment
$109,800
Improvements Assessment
$776,070
Total Assessment
$885,870
Annual Taxes
$391 ($0.02/SF)
Tax Year
2024
zoning
| Zoning Code | R7-1 |
| R7-1 |
-
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