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 For The Next 34 Years) Total Expenses: $69, 819. 44 Ann. Pro Forma Gross Income: $634, 192. 96 Ann. Net Operating Income (NOI): $564, 373. 52 Ann. (Pro Forma 6. 5% Cap!!!)
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Sarah.Alvarez@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $6,790,400 | $6,790,400 | $6,790,400 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.375% | 6.250% | 5.750% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.850% | 6.360% | 5.930% |
Monthly Tax Payment | $33 | $33 | $33 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $38,024 | $41,810 | $56,388 |
Total Monthly Payment | $38,182 | $41,968 | $56,546 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.