New York, NY 10472

Property

Ownership: For Sale
Type: Multi-Family

Financials

Price:$1,950,000
Annual Taxes:$22,166
505 Park Ave, New York, NY 10022
Listing Courtesy of All Island Estates Realty Corp

Calling All Investors, Developers amp ; End Users !

Description

Calling All Investors, Developers & End-Users!!! 11 Unit Bronx Apartment Building Near Westchester Ave. For Sale!!! The Building Features Excellent Signage, Great Exposure, C4-2 (R6 Equivalent) Zoning, High 9’ Ceilings, (11) 3 Br. Apartments, 5 Stories, Large Rear Yard, All New LED Lighting, 3 Phase Power, A/C, +++!!!! The Property Is Located In The Heart Of Park Versailles Just Off Busy Westchester Avenue!!! The Property Is Situated Between The Bronx River Pkwy., I-95, I-278 & Sheridan Blvd.!!! Neighbors Include Chase Bank, Bank Of America, Verizon, T-Mobile, AT & T, Extra Space Storage, CubeSmart Self Storage, Boost Mobile, CVS, Dunkin’, CityMD, Shell, BP Gas, Foot Locker, Cookie’s Department Stores, McDonald’s, Burger King, Papa John’s, Domino’s, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!! Income: Unit 1 (3 Br. Apt.): $23,870.64 Ann.; Lease Exp.: 11/30/26. Unit 2 (3 Br. Apt.): $27,710.04 Ann. Lease Exp.: 11/30/27. Unit 3 (3 Br. Apt.): $26,694.48 Ann.; Lease Exp.: 10/31/27. Unit 4 (3 Br. Apt.): $13,501.20 Ann.; Lease Exp.: 7/31/27. Unit 5 (3 Br. Apt.): $23,870.64 Ann.; Lease Exp.: 12/31/26. Unit 6 (3 Br. Apt.): $31,866.24 Ann.; Lease Exp.: 11/30/26. Unit 7 (3 Br. Apt.): $18,014.16 Ann.; Lease Exp.: 12/31/27. Unit 8 (3 Br. Apt.): $21,845.88 Ann.; Lease Exp.: 8/14/27. Unit 9 (3 Br. Apt.): $29,925.12 Ann.; Lease Exp.: 3/31/26. Unit 10 (3 Br. Apt.): $25,299.72 Ann.; Lease Exp.: 11/30/26. Unit 11 (3 Br. Apt.): $23,789.88 Ann.; Lease Exp.: 10/31/27. Gross Income: $266,388 Ann. Expenses: Gas: $21,865.40 Ann. Electric: $2,500 Ann. (Common Areas Only) Maintenance & Repairs: $5,500 Ann. Insurance: $10,000 Ann. Water & Sewer: $14,317.93 Ann. Taxes: $22,166.32 Ann. Total Expenses: $76,349.65 Ann. Net Operating Income (NOI): $190,038.35 Ann. (9.75 Cap!!!)

Long Island MLS

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.