931 E 179 Street | 931-935 E 179th St
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931 E 179 Street 931-935 E 179th St
37 Unit Apartment Building $12,900,000 ($348,649/Unit) 7.08% Cap Rate Bronx, NY 10460
Executive Summary
This newly constructed seven-story building is situated in the vibrant West Farms neighborhood of the Bronx.
Comprising 37 units, the property offers a diverse mix of residences, including 2 studio-bedrooms, 19 one-bedrooms, and 16 two-bedrooms. The building boasts a coveted 35-year 421-A tax abatement, providing significant financial benefits until 6/30/2056. Currently fully occupied, the property also features 12 parking spaces.
Constructed in 2021, the property spans 7,329 square feet, with a total building square footage of 26,661. Its prime location offers easy access to the 2&5 subway lines and the renowned Bronx Zoo.
Comprising 37 units, the property offers a diverse mix of residences, including 2 studio-bedrooms, 19 one-bedrooms, and 16 two-bedrooms. The building boasts a coveted 35-year 421-A tax abatement, providing significant financial benefits until 6/30/2056. Currently fully occupied, the property also features 12 parking spaces.
Constructed in 2021, the property spans 7,329 square feet, with a total building square footage of 26,661. Its prime location offers easy access to the 2&5 subway lines and the renowned Bronx Zoo.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $12,900,000 | Building Class | A |
| Price Per Unit | $348,649 | Lot Size | 0.18 AC |
| Sale Type | Investment | Building Size | 31,167 SF |
| Cap Rate | 7.08% | Average Occupancy | 100% |
| No. Units | 37 | No. Stories | 7 |
| Property Type | Multifamily | Year Built | 2021 |
| Property Subtype | Apartment | Parking Ratio | 0.39/1,000 SF |
| Apartment Style | Mid Rise |
| Price | $12,900,000 |
| Price Per Unit | $348,649 |
| Sale Type | Investment |
| Cap Rate | 7.08% |
| No. Units | 37 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | A |
| Lot Size | 0.18 AC |
| Building Size | 31,167 SF |
| Average Occupancy | 100% |
| No. Stories | 7 |
| Year Built | 2021 |
| Parking Ratio | 0.39/1,000 SF |
Unit Amenities
- Washer/Dryer
- Sprinkler System
- Stainless Steel Appliances
Site Amenities
- Maintenance on site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | - |
| 1+1 | 19 | - | - |
| 2+1 | 16 | - | - |
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Walk Score ®
Very Walkable (88)
Transit Score ®
Rider's Paradise (97)
PROPERTY TAXES
| Parcel Number | 03127-0039 | Total Assessment | $1,972,710 (2024) |
| Land Assessment | $242,100 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,730,610 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
03127-0039
Land Assessment
$242,100 (2024)
Improvements Assessment
$1,730,610 (2024)
Total Assessment
$1,972,710 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | R7-1 (Mixed Residential and Commercial Buildings) |
| R7-1 (Mixed Residential and Commercial Buildings) |
-
Siang Liu -
Adam Lee -
P R O Links Realty
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931 E 179 Street | 931-935 E 179th St
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