222-226 Echo Place, Bronx, New York 10457
Only $85 PDSF Economically Friendly Echo Development
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Property Description

Price Reduced 32%!! Now only $75PBSF Property Consists of 2 lots Currently with Two 2 story 3,164 square foot each, Residential 2 family Buildings. Proposed Construction of an 8 Story 32,850+/- Buildable Square Feet Residential Building that will consist of 22/Studios and 22/1 Bedroom Apartments. The property will be delivered in "as is" condition but with APPROVED ARCHITECTURAL BUILDING PLANS at closing from the noted and brilliant architectural firm of Issac and Stern Architects PC http://issacstern.com

Property Details

Price:2450000
No. Units:44
Building Size:5457 SF
Price/Unit:$108,333.33
Property Type:Land
Property Sub-type:Multi-Family (land)
Property Use Type:Investment
Cap Rate:7%
Gross Rent Multiplier:9.6
Occupancy:0%
No. Stories:8
Year Built:
Lot Size:5457 SF

Units

Unit Mix

DescriptionNo. UnitsAvg. Mo. Rent
1Bedroom/1Bath22
2Bedroom/1Bath22

Financial Summary

Scheduled Gross Income$808183
Effective Gross Income$779174
Operating Expenses$228318
Net Operating Income$550856

Debt & Equity Information

Major Tenants

TenantSF OccupiedLease Expired