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$ 4,000,000
Est. payment | /mo
25 Baths
10,640 SqFt
$ 4,000,000
Est. payment | /mo
25 Baths
10,640 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 10,640 sqft
Price per Sqft $375
MLS Listing ID 11975536
Full Baths 25
Year Built 1973
Annual Tax Amount $45,000
Lot Size 10,245 Sqft
Property Description
Capline Consolidated is pleased to present 1995 Birchall Avenue, a fully-occupied 20-unit apartment building in the Van Nest section of the Bronx, offered at $4,000,000. The property occupies a strong residential pocket one block from the Bronx Park East station on the 2/5 line, with Bronx Park directly across the street - giving residents immediate access to green space alongside a fast commute into Manhattan. Van Nest has been recognized as one of the most walkable neighborhoods in the Bronx, and the surrounding blocks offer easy reach to the retail corridor on Morris Park Avenue and the shops and services around Westchester Square. Financially, the building is performing well: $413,098.56 in gross annual income against $155,450 in operating expenses produces $257,648.56 in net operating income, a 6.44% cap rate at the asking price. The property carries no existing debt, giving a buyer a clean slate to structure acquisition financing on their own terms. At $200,000 per unit, this is a chance to acquire a stabilized, income-producing asset in a tightly-held Bronx submarket at a basis well below replacement cost. Full financials, rent roll, and due diligence materials are available to qualified buyers. $413,098.56 in annual gross income $257,648.56 NOI, representing a 6.44% cap rate Attractive basis of $200,000 per unit and 9.68x GRM Approximately 10,640 SF on a 10,245 SF corner lot with roughly 225 feet of frontage R7-1 zoning allowing approximately 40,980 buildable SF 30,325 SF of unused residential air rights Bronx Park East 2/5 subway station directly outside the property Directly across from Bronx Park and near the Bronx Zoo and Starlight Park Rare combination of strong in place income and substantial development upside
Location
State NY
County 36005
Rooms
Basement Full
Dining Room 0
Kitchen 0
Nearby Locations
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