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1281 Hoe Ave 45 Unit Apartment Building $13,500,000 ($300,000/Unit) 6.08% Cap Rate Bronx, NY 10459
INVESTMENT HIGHLIGHTS
- Located at Crotona Park East neighborhood of the Bronx, New York
- This is a brick mix use building , 45 units , 1 commercial and 9 stories
- Conveniently located next to all transportation
EXECUTIVE SUMMARY
1281 Hoe Avenue | Crotona Park East, Bronx, NY 10459
Offering Price: $13,500,000 | Cap Rate: 6.08% | NOI: $820,434.60
New to Market: 1281 Hoe Avenue is a 9-story, Mixed-Use Elevator Building located in the Crotona Park East section of the Bronx. Built in 2022, the property comprises 46 total units (45 residential studios + 1 commercial unit) and totals 28,415 SF of Gross Building Area on a 5,000 SF lot. The residential units are part of the AIRS affordable housing program for seniors (62+), restricted at 80% AMI and benefit from a 35-year 421-a tax abatement.
The property boasts a rent roll of $70,229.55/month with stabilized income and occupancy at 93.3% for residential only. The commercial space is rented for $8,240.00/ month. The commercial unit is leased NNN to Lauv & Kare Family Support. Amenities include a common laundry room, elevator, terraces, and modern building systems.
This is a turn-key investment with a strong in-place return and significant long-term upside.
Offering Price: $13,500,000 | Cap Rate: 6.08% | NOI: $820,434.60
New to Market: 1281 Hoe Avenue is a 9-story, Mixed-Use Elevator Building located in the Crotona Park East section of the Bronx. Built in 2022, the property comprises 46 total units (45 residential studios + 1 commercial unit) and totals 28,415 SF of Gross Building Area on a 5,000 SF lot. The residential units are part of the AIRS affordable housing program for seniors (62+), restricted at 80% AMI and benefit from a 35-year 421-a tax abatement.
The property boasts a rent roll of $70,229.55/month with stabilized income and occupancy at 93.3% for residential only. The commercial space is rented for $8,240.00/ month. The commercial unit is leased NNN to Lauv & Kare Family Support. Amenities include a common laundry room, elevator, terraces, and modern building systems.
This is a turn-key investment with a strong in-place return and significant long-term upside.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Kitchen
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 45 | $1,556 | - |
1 1
Walk Score®
Very Walkable (86)
Transit Score®
Rider's Paradise (100)
PROPERTY TAXES
| Parcel Number | 02980-0056 | Total Assessment | $1,843,200 (2025) |
| Land Assessment | $31,215 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,811,985 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
02980-0056
Land Assessment
$31,215 (2025)
Improvements Assessment
$1,811,985 (2025)
Total Assessment
$1,843,200 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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1281 Hoe Ave
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