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155 E 168th St 55 Unit Apartment Building $3,850,000 ($70,000/Unit) 6.70% Cap Rate Bronx, NY 10452
INVESTMENT HIGHLIGHTS
- 55 units l asking $70,000/unit
- 5x GRM, block off grand concourse
EXECUTIVE SUMMARY
New York Multifamily is pleased to offer the following opportunity in Concourse neighborhood of the Bronx. 155 East 168th Street is a 5-story walk-up building with 55 residential apartments and spans 45,500 square feet. Composed of 6 studio, 39 one and 10 two-bedroom apartments East 168th street is located one block off the prime Grand Concourse
retail corridor and is a short walk to the B, D & 4 subway lines. This building offers investors an opportunity to capitalize on immediate economies of scale at a below-market basis, well below replacement cost: Asking $70,000 per unit & $85PSF.
retail corridor and is a short walk to the B, D & 4 subway lines. This building offers investors an opportunity to capitalize on immediate economies of scale at a below-market basis, well below replacement cost: Asking $70,000 per unit & $85PSF.
PROPERTY FACTS
| Price | $3,850,000 | Property Subtype | Apartment |
| Price Per Unit | $70,000 | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.70% | Lot Size | 0.32 AC |
| Gross Rent Multiplier | 5.1 | Building Size | 45,500 SF |
| No. Units | 55 | No. Stories | 5 |
| Property Type | Multifamily | Year Built | 1924 |
| Zoning | R8 | ||
| Price | $3,850,000 |
| Price Per Unit | $70,000 |
| Sale Type | Investment |
| Cap Rate | 6.70% |
| Gross Rent Multiplier | 5.1 |
| No. Units | 55 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.32 AC |
| Building Size | 45,500 SF |
| No. Stories | 5 |
| Year Built | 1924 |
| Zoning | R8 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 55 | - | - |
1 1
Walk Score®
Walker's Paradise (94)
Transit Score®
Rider's Paradise (100)
PROPERTY TAXES
| Parcel Number | 02466-0040 | Improvements Assessment | $607,860 |
| Land Assessment | $118,350 | Total Assessment | $726,210 |
PROPERTY TAXES
Parcel Number
02466-0040
Land Assessment
$118,350
Improvements Assessment
$607,860
Total Assessment
$726,210
CONTACTS
-
Michael Fusco -
Seth Glasser -
Benjamin Myerow -
Christopher Mehran -
Marcus & Millichap
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155 E 168th St
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