Mount Hope Pre-war 25 Units Multifamily Bronx

Listing ID: 107
Last Updated: 04 23, 2021
Property Type(s): Garden/Low-Rise
Property Use Type: Investment
Contact : Andrew Lichtenstein,
Andrew Lichtenstein, Inc.
5770 Palisade Avenue Riverdale,
New York 10471
(800) 242-9888 or (718) 549-5999

Make an offer to buy this property

Andrew Lichtenstein,
Andrew Lichtenstein, Inc.
5770 Palisade Avenue Riverdale,
New York 10471
(800) 242-9888 or (718) 549-5999

Asking Price: $ 5,000,000Opinion of Value: $ 5,200,000
Down Payment: $ 0Year Built:
Property Size
Existing Built Square Footage: 19,158 Sq.FtLand Plot Lot Size: 4,750 Square Feet
Lot Frontage: Lot Depth:
Number of Units: 25Percent Occupied: 97 %
Investment Type:  


1-Lichtenstein-Mount Hope-1818_Clay_Avenue_$5MM.pdf

Property Details

Property Description :

Subject Property is a Six-story Mid-Rise Masonry Elevator Apartment Building with 25 Large Apartments consisting of Six (1) Bedroom, Eighteen (2) Bedroom Residential Apartments, plus One (3) Bedroom Basement Apartment. 95 Rooms Total. Gross total floor area of 19,158 Square foot. Property was Built in 1937 and is Located in the Mount Hope Section of the Bronx.

Property Location :

Mount Hope

Highlights :

Qualified Opportunity Zone: Yes and also NMTC Qualified
Convenient to mass transit.

Property Financials

  Annual IncomeAnalytical Calculations
Scheduled Gross Income, Annually:$ 424,815Gross Rent Multiplier:
Less Vacancy & Collection Loss Assumption:$ 0Capitalization Rate: %
Reimbursement:$ Cash on Cash Return: %
Other Income:0 
a. Effective Gross Income, Annualy: $ 424,815 
  Annual ExpensesAnalytical Calculations
Management:$ 12,744Expenses per unit:$ 7,379
Maintenance:$ 12,000Expenses per square foot:$ 9.63
Taxes:$ 78,839Price per unit:$ 200,000
Insurance:$ 18,000Price per square foot (building):$ 261
Heating: OIL$ 25,000Price per area of land plot:$ 1,053
a. Total Annual Expenses: $ 184,483 
Annual Net Financials
c. Net Operating Income, Annually$ 240,332
d. Annual Debt Service:$ 0
e. Other Annual Capital Costs:$ 0
Pre Tax Cash Flow, Annually$ 0

Financing Information

This Loan is Proposed
Principal:$ 240,332
Interest Rate:3.5 %
Loan Amortization:5 Years
Loan Term:30 Years
Annual Debt Service:$ 202,070

Tenant Information

Tenant NameLease End (i.e. mm/dd/yyyy)square feet
Lease and Escalation:

Property Attachments

(click to open / enlarge)
Mott Haven 25 Units Pre-war Apartment Building


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ANDREW LICHTENSTEIN, INC. (Licensed Real Estate Broker) Commercial Real Estate Sales and Mortgage Financing