New York, NY 10455

Property

Ownership: For Sale
Type: Multi-Family

Financials

Price:$1,388,000
Annual Taxes:$15,727
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!!! 9.08 Cap 8 Unit Bronx Apartment Building For Sale!!! The Property Features Excellent Signage, Great Exposure, R7-1 Zoning, High 9’ Ceilings, (6) 3 Br. Apartments, (2) 4 Br. Apartments, 4 Stories, Basement, Large Rear Yard, All New LED Lighting, 3 Phase Power, A/C, +++!!!! The Property Is Located In The Heart Of Longwood Just Off Prospect Ave. Near I-278 (Bruckner Expy.)!!! Neighbors Include Amazon, Verizon, T-Mobile, AT&T, Optimum, Frito Lay, Planet Fitness, Dunkin’, Marshall’s, Burlington, GNC, NY Expo Center, Dollar Tree, Five Below, Family Dollar, Boost Mobile, McDonald’s, White Castle, Popeye’s Louisiana Kitchen, Little Caesar’s Pizza, Aldi, KFC, +++!!! The Property Has An Assumable Mortgage At 3.75%!!! 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.): $19,800 Ann.; Lease Exp.: 1/31/26. Unit 2 (3 Br. Apt.): $21,155.16 Ann. Lease Exp.: 7/31/27. Unit 3 (3 Br. Apt.): $22,734 Ann.; Lease Exp.: 4/30/27. Unit 4 (4 Br. Apt.): $21,483.60 Ann.; Lease Exp.: 7/31/27. Unit 5 (3 Br. Apt.): $23,997 Ann.; Lease Exp.: 6/30/27. Unit 6 (3 Br. Apt.): $20,944.44 Ann.; Lease Exp.: 8/31/26. Unit 7 (3 Br. Apt.): $20,760.84 Ann.; Lease Exp.: 7/31/27. Unit 8 (4 Br. Apt.): $22,876.08 Ann.; Lease Exp.: 9/14/27. Gross Income: $173,751.12 Ann. Expenses: Oil: $7,400 Ann. Electric: $1,300 Ann. (Common Areas Only) Maintenance & Repairs: $4,000 Ann. Insurance: $9,000 Ann. Water & Sewer: $10,280.84 Ann. Taxes: $15,727 Ann. Total Expenses: $47,707.84 Ann. Net Operating Income (NOI): $126,043.28 Ann. (9.08% Cap!!!) Reply, Reply All or Forward

Amenities

  • Electricity Available

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.