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150 Franklin Ave 4 Unit Apartment Building $995,000 ($248,750/Unit) 6.76% Cap Rate New Rochelle, NY 10805
INVESTMENT HIGHLIGHTS
- Free-Market
- Desirable Location
- Large Apartments
- Value-Add Potential
- Strong Rental Market & Collections
- New Roof (2023)
EXECUTIVE SUMMARY
Kafka Realty is pleased to exclusively present the opportunity to acquire a fully occupied multifamily located at 150-152 Franklin Ave in New Rochelle, New York. The subject property is a 2.5-story residential building comprising four free-market apartments, encompassing a total area of approximately 4,900 square feet, and is situated in the desirable Franklin Avenue neighborhood. The property offers convenient access to Manhattan, with a 30-40 minute commute via car and ~0.8 miles from the New Rochelle Metro-North Station.
PROPERTY FACTS Under Contract
| Price | $995,000 | Property Subtype | Apartment |
| Price Per Unit | $248,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 6.76% | Building Size | 4,900 SF |
| Gross Rent Multiplier | 8.27 | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1920 |
| Zoning | R-3A | ||
| Price | $995,000 |
| Price Per Unit | $248,750 |
| Sale Type | Investment |
| Cap Rate | 6.76% |
| Gross Rent Multiplier | 8.27 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 4,900 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1920 |
| Zoning | R-3A |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+1 | 3 | - | - |
| 1+1 | 1 | - | - |
1 1
Walk Score®
Very Walkable (85)
PROPERTY TAXES
| Parcel Number | 1000-000-001-00209-000-0006 | Improvements Assessment | $13,800 |
| Land Assessment | $2,900 | Total Assessment | $16,700 |
PROPERTY TAXES
Parcel Number
1000-000-001-00209-000-0006
Land Assessment
$2,900
Improvements Assessment
$13,800
Total Assessment
$16,700
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150 Franklin Ave
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