Log In/Sign Up
Your email has been sent.
129 Alexander Ave 9 Unit Apartment Building For Sale Bronx, NY 10454
Investment Highlights
- Positioned in the heart of Mott Haven, offering immediate access to one of the Bronx’s fastest-transforming residential and commercial corridors.
- Notable upside as rent-stabilized units naturally convert to free-market between 2026 and 2027, allowing rents to rise with minimal investment.
- Convenient transit access with multiple subway lines and regional connections that enhance both residential and retail demand.
- Strong in-place income supported by a stabilized residential tenant base and a long-term ground-floor retail tenant with lease security through 2029.
- Long-term tax advantages through a J-51 abatement and 2B tax class that help preserve cash flow as income grows.
Executive Summary
Cushman & Wakefield is pleased to exclusively present 129 Alexander Avenue, an 8,350 SF, five-story mixed-use building in the heart of Mott Haven, comprised of nine residential units above one ground-floor commercial space. The property offers a rare combination of strong in-place income, meaningful tax protection, and a clear path to rental upside in one of the Bronx’s most rapidly evolving neighborhoods. The building benefits from a J-51 tax abatement through 2027, reducing annual real estate taxes to
approximately $18,132 versus an unabated tax of $30,190. In addition, the property is classified as Tax Class 2B, which caps assessed value increases at 8% annually and 30% over five years, providing long-term protection against aggressive reassessments as income grows. This structure allows future rent increases to translate more directly into net operating income, materially enhancing cash flow and value. All nine residential units are currently rent stabilized with in-place average rents well below market. As leases naturally expire between 2026 and 2027, units convert to free-market status, allowing rents to reset to prevailing market rate with minimal capital investment. Pro forma underwriting reflects a meaningful increase in residential income as units roll, supported by stable ground-floor retail income from an established tenant. This low-execution, tax-efficient business plan positions 129 Alexander Avenue as an attractive value-add opportunity with durable downside protection and substantial long-term upside.
approximately $18,132 versus an unabated tax of $30,190. In addition, the property is classified as Tax Class 2B, which caps assessed value increases at 8% annually and 30% over five years, providing long-term protection against aggressive reassessments as income grows. This structure allows future rent increases to translate more directly into net operating income, materially enhancing cash flow and value. All nine residential units are currently rent stabilized with in-place average rents well below market. As leases naturally expire between 2026 and 2027, units convert to free-market status, allowing rents to reset to prevailing market rate with minimal capital investment. Pro forma underwriting reflects a meaningful increase in residential income as units roll, supported by stable ground-floor retail income from an established tenant. This low-execution, tax-efficient business plan positions 129 Alexander Avenue as an attractive value-add opportunity with durable downside protection and substantial long-term upside.
Property Facts
| Sale Type | Investment | Lot Size | 0.04 AC |
| No. Units | 9 | Building Size | 8,350 SF |
| Property Type | Multifamily | No. Stories | 5 |
| Property Subtype | Apartment | Year Built | 1931 |
| Apartment Style | Mid-Rise | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | M1-2R6 - Light industrial with offices, hotels, and most retail uses permitted | ||
| Sale Type | Investment |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 8,350 SF |
| No. Stories | 5 |
| Year Built | 1931 |
| Opportunity Zone |
Yes |
| Zoning | M1-2R6 - Light industrial with offices, hotels, and most retail uses permitted |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 9 | - | 560 |
1 1
Walk Score®
Very Walkable (88)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (78)
Property Taxes
| Parcel Number | 02309-0029 | Improvements Assessment | $221,786 |
| Land Assessment | $1,847 | Total Assessment | $223,633 |
Property Taxes
Parcel Number
02309-0029
Land Assessment
$1,847
Improvements Assessment
$221,786
Total Assessment
$223,633
1 of 3
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
129 Alexander 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.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.