Log In/Sign Up
Your email has been sent.
TURN KEY 8.55% CAP, Projected 13.25% CAP 1124 Grant Ave 6 Unit Apartment Building $1,200,000 ($200,000/Unit) 10.74% Cap Rate Bronx, NY 10456
INVESTMENT HIGHLIGHTS
- FULLY RENOVATED
- Non-for profit
- Month to month tenants
- ALT-1 play to 24 units
EXECUTIVE SUMMARY
Twelve Stones Realty is pleased to announce we have been retained to exclusively represent the sale of 1124 Grant Avenue, in the Concourse Section of the Bronx.
Currently, it is a 6,232 SF 3-story walk-up building consisting of 6 apartments and a 2-car garage
The building was completely GUT-RENOVATED in 2016 and is currently 100% occupied with NFP tenants.
The average rents are $2,271. And the gross income is $174,000 annually.
The property sits on a 35 x 100 R7-1 LOT with 16,800 buildable square feet. giving the ability to convert to a 24-unit building
The property is being offered at an 8.55% cap rate with an asking price of $1,500,000.
Projected 13.25% on lease renewals
Reuben Lugassy, Yaakov Pliner & Shaya Rosenberg will be handling this listing.
Currently, it is a 6,232 SF 3-story walk-up building consisting of 6 apartments and a 2-car garage
The building was completely GUT-RENOVATED in 2016 and is currently 100% occupied with NFP tenants.
The average rents are $2,271. And the gross income is $174,000 annually.
The property sits on a 35 x 100 R7-1 LOT with 16,800 buildable square feet. giving the ability to convert to a 24-unit building
The property is being offered at an 8.55% cap rate with an asking price of $1,500,000.
Projected 13.25% on lease renewals
Reuben Lugassy, Yaakov Pliner & Shaya Rosenberg will be handling this listing.
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$173,142
|
$27.78
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$173,142
|
$27.78
|
| Taxes |
$20,582
|
$3.30
|
| Operating Expenses |
$23,675
|
$3.80
|
| Total Expenses |
$44,257
|
$7.10
|
| Net Operating Income |
$128,885
|
$20.68
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $173,142 |
| Annual Per SF | $27.78 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $173,142 |
| Annual Per SF | $27.78 |
| Taxes | |
|---|---|
| Annual | $20,582 |
| Annual Per SF | $3.30 |
| Operating Expenses | |
|---|---|
| Annual | $23,675 |
| Annual Per SF | $3.80 |
| Total Expenses | |
|---|---|
| Annual | $44,257 |
| Annual Per SF | $7.10 |
| Net Operating Income | |
|---|---|
| Annual | $128,885 |
| Annual Per SF | $20.68 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Storage Space
- Granite Countertops
- Hardwood Floors
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 2 | $2,063 | 880 |
| 3+1 | 4 | $2,385 | 915 |
1 1
Walk Score®
Walker's Paradise (91)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (80)
PROPERTY TAXES
| Parcel Number | 02449-0010 | Total Assessment | $178,123 (2025) |
| Land Assessment | $10,909 (2025) | Annual Taxes | $20,582 ($3.30/SF) |
| Improvements Assessment | $167,214 (2025) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
02449-0010
Land Assessment
$10,909 (2025)
Improvements Assessment
$167,214 (2025)
Total Assessment
$178,123 (2025)
Annual Taxes
$20,582 ($3.30/SF)
Tax Year
2023
CONTACTS
-
Avraham Birnbaum -
Shaya Rosenberg -
Yaakov Pliner -
Reuben Lugassy -
Twelve Stones Realty LLC
1 of 11
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
TURN KEY 8.55% CAP, Projected 13.25% CAP | 1124 Grant Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.