2072 Crotona Avenue, Bronx, New York 10457
44 Apartments. 6.54% Cap Rate Net Leased Nirvana. Brand Newly Built 4 Bronx Buildings
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Property Description

Four 4 Story Newly Built walk-up Residential Buildings with a Total of 44 Apartments in the Tremont & Morrisania sections of the Bronx. 4 Properties are Net Leased to 3 Entities. Crotona, Fulton Avenue & East 167th each have 5 year initial lease terms while East 170th Street has a 10 year initial term. All 4 have lease Renewal Options. 4 Buildings have combined 32,182 square foot total plus an Additional 5,341SF of Air Rights available for a total of 37,523 square foot Residential as of right maximum FAR Buildable.

Property Details

Price:12618512
No. Units:44
Building Size:14326 SF
Price/Unit:$108,333.33
Property Type:Multi-Family
Property Sub-type:Garden/Low-Rise
Property Use Type:Investment
Cap Rate:6.5%
Gross Rent Multiplier:13.75
Occupancy:100%
No. Stories:4
Year Built:
Lot Size:14326 SF

Units

Unit Mix

DescriptionNo. UnitsAvg. Mo. Rent
Studio9
1 Bedroom18
2 Bedroom17

Financial Summary

Scheduled Gross Income$918000
Effective Gross Income$918000
Operating Expenses$92950
Net Operating Income$825050

Debt & Equity Information

Major Tenants

TenantSF OccupiedLease Expired