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Bronx Pre-War 6 Story 49 Unit Multifamily Elevator Apartment Building

Listing ID: 110
Last Updated: 04 25, 2024
Property Type(s): Mid/High-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: $ 6,250,000Opinion of Value: $ 7,500,000
Down Payment: $ 0Year Built: 1932
Property Size
Existing Built Square Footage: 41,514 Sq.FtLand Plot Lot Size: 10,000 Square Feet
Lot Frontage: Lot Depth:
Number of Units: 49Percent Occupied: 100 %
Investment Type: Stabilized 


Property Details

Property Description :

Subject Property is a Six-story Mid-Rise Masonry Elevator Apartment Building with 49 Apartments consisting of One (1) Studio, Forty One (41) 1 Bedroom & Seven(7) 2 Bedroom Residential Apartments. 149 Rooms Total. It is possible to duplex down to cellar, 2 first floor (Studio & 1 Bedroom) apartments. Building Gross total floor area of 41,514 Square foot. Property was Built in 1932 and is Located in the Olinville Section of the Bronx.

Property Location :

Olinville, Bronx

Highlights :

Property Financials

  Annual IncomeAnalytical Calculations
Scheduled Gross Income, Annually:$ 891,124Gross Rent Multiplier:7
Less Vacancy & Collection Loss Assumption:$ 0Capitalization Rate:9.3 %
Reimbursement:$ Cash on Cash Return:13 %
Other Income:0 
a. Effective Gross Income, Annualy: $ 861,124 
  Annual ExpensesAnalytical Calculations
Real Estate Tax$ 103,709Expenses per unit:$ 5,735
Insurance: Estimated$ 19,600Expenses per square foot:$ 6.77
Water & Sewer: Estimated$ 20,757Price per unit:$ 127,551
Heating: Oil #4 Estimated$ 66,422Price per square foot (building):$ 146,938
Electricity: Estimated$ 10,379Price per area of land plot:$ 625
a. Total Annual Expenses: $ 281,001 
Annual Net Financials
c. Net Operating Income, Annually$ 580,123
d. Annual Debt Service:$ 0
e. Other Annual Capital Costs:$ 0
Pre Tax Cash Flow, Annually$ 0

Financing Information

This Loan is
Principal:$ 0
Interest Rate: %
Loan Amortization: Years
Loan Term: Years
Annual Debt Service:$ 0

Tenant Information

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

Property Attachments

(click to open / enlarge)
3650 Bronx Boulevard


The statements, figures and information herein or provided at any time have been received from sources we believe to be authoritative, but no warranty, guarantee or representation is made as to the accuracy or completeness. Subject to errors, omissions, change of conditions, price, terms, rate, prior rental, sale, lease, financing, prior placement, withdrawal, cancellation or modification without notice. The information, including financial analysis does not constitute a representation, warranty, or guaranty of any or the numbers or information set forth herein or of any economic value attributable to the subject investment. Independent estimates of financial or economic attributes should be developed with due diligence of counsel and independent professionals before any decision is made regarding this. The materials and information do not constitute an offer or a solicitation of an offer for the purchase or sale of any securities whatsoever or in any companies affiliated herein. Furthermore, this site may contain information and press releases about and by affiliates; however, although this information was believed to be accurate as of the date prepared we hereby disclaim any duty or obligation to update such information. To the extent that any information is deemed to be a 'forward looking statement' as defined in the rules and regulations of the Securities Act of 1933, as amended, such information is intended to fit within the 'safe harbor' for forward looking information and is subject to material risk factors which may or may not be disclosed herein. We do not intend to make any investment representations about or any companies affiliated with us, or of opportunities and should not be viewed as such. Buyers/Borrowers must perform their own independent due diligence. References to square footage or age are approximate. This summary is for information only and does not constitute all or any part of an offer or contract. Buyer must verify all information and bears all risk for any inaccuracies. Broker does not warrant any inaccuracies; pricing, availability etc. is subject to change.
ANDREW LICHTENSTEIN, INC. (Licensed Real Estate Broker) Commercial Real Estate Sales and Mortgage Financing

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