596 East 170th Street, Bronx, New York 10457
6.2% Cap Bronx NN Leased Nirvana
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Property Description

Two 4 Story Newly Built walkup Residential Buildings with a Total of 28 Apartments and 8 to 10 car parking in the Morrisania section of the Bronx. These 2 Properties are Net Leased to 2 Entities. Fulton Avenue has 5 year initial lease terms while East 170th Street has a 10 year initial term. Both have lease Renewal Options. 2 Buildings have combined 19,918 square foot total plus an Additional 3,320SF of Air Rights available for a total of 23,238 square foot Residential as of right maximum FAR Buildable.

Property Details

Price:8000000
No. Units:28
Building Size:9448 SF
Price/Unit:$108,333.33
Property Type:Multi-Family
Property Sub-type:Garden/Low-Rise
Property Use Type:Investment
Cap Rate:6.1%
Gross Rent Multiplier:
Occupancy:100%
No. Stories:4
Year Built:2014
Lot Size:9448 SF

Units

Unit Mix

DescriptionNo. UnitsAvg. Mo. Rent

Financial Summary

Scheduled Gross Income$597600
Effective Gross Income$597600
Operating Expenses$102374
Net Operating Income$495226

Debt & Equity Information

Major Tenants

TenantSF OccupiedLease Expired