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"Majestic" Exclusive Riverdale 409% Profit Proj.
3660 Waldo Avenue, Riverdale, NY 10463
87 Units | Multifamily
"The Majestic" 3660 Waldo Avenue The Heart of Riverdale
Multifamily Property - Off Market
- No. Units:
- Building Size:
- 72,000 SF
- Property Type:
- Property Sub-type:
- Property Use Type:
- Commission Split:
- Cap Rate:
- Gross Rent Multiplier:
- No. Stories:
- Year Built:
- Lot Size:
- 20,300 SF
- APN / Parcel ID:
- Listing ID
- Last Updated
- 74 days ago
- Proj.Convert to Student Housing: Proj.Net: $3,347,529 Cap Rate:18.9% GRM:4.51 Proj.Value:$73,605,533 Proj.Resale Profit:$56,105,533 Proj. ROE: 850%
- BEAUTIFUL PREWAR FINE ELEVATOR APARTMENT BUILDING OPPORTUNITY
- Total NOW Projected: Net Income: $942,562 Cap Rate: 5.2% GRM: 12.21
- Proj. 100% Market: Proj. Net Income: $2,117,538 Cap Rate: 12.1% GRM: 6.6 Proj. Value: $47,056,408 Proj. Resale Profit: $29,556,408 Proj. ROE: 448%
- * Build your prosperity by maximizing the value of this mismanaged gem. * Ideal for Condo/Coop Conversion.
- 1 block from college; can be converted to student housing to collect 312 monthly student checks versus 87 rental checks now for maximum income.
"The Majestic" is a solid Brick 1940 construction 6 Story Two Elevators apartment building, containing 87 Large Apartments plus basement storage.spaces in rear. Not included in income or in unit count there is a magnificent, huge additional duplex apartment the size of a large home with many bedrooms, tremendous living room, eat in kitchen that can be used by a buyer, manager, but this unit is not currently rented and is not part of the certificate of occupancy. There are also numerous other rooms and areas that can be utilized creatively. There is a superintendent's office that can be used as a management office with street access to Waldo Avenue.
* This could be an ideal cooperative or condominium conversion in the future.
Total NOW Projected: Net Income: $942,562 Cap Rate: 5.2% GRM: 12.21
Proj. 100% Market: Proj. Net Income: $2,117,538 Cap Rate: 12.1% GRM: 6.6 Proj. Value: $47,056,408 Proj. Resale Profit: $29,556,408 Proj. ROE: 448%
Proj.Convert to Student Housing: $3,347,529 Cap Rate:18.9% GRM:4.51 Proj.Value:$73,605,533 Proj.Resale Profit:$56,105,533 Proj. ROE: 850%
- Located in Riverdale New York conveniently located atop the staircase leading to Kingsbridge and the 1 & 9 Subway.
- One block to Manhattan College. This building can be converted to student housing renting to 320 beds versus 86 apartments for huge profit potential.
Map of 3660 Waldo Avenue, Riverdale, NY 10463 (Bronx County)
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The information above has
been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified
it and make no guarantee, warranty or representation about it. It is your responsibility to independently
confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are
for example only and do not represent the current or future performance of the property. The value of
this transaction to you depends on tax and other factors which should be evaluated by your tax, financial,
and legal advisors. You and your advisors should conduct a careful, independent investigation of the
property to determine to your satisfaction the suitability of the property for your needs. TB-P