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1692 Grand Concourse
Bronx, NY 10457
Multifamily Property For Sale
·
26 Units
EXECUTIVE SUMMARY
Rare opportunity to acquire a 26 unit majority free market building on the East side of Grand Concourse, between 173rd Street & 174th Street; value-add potential upon lease turnover as free market rents are below the current Section 8 subsidy standards; new subsidy payment standards totaling $2,762 for one (1) bedroom apartments & $3,058 for two (2) bedroom apartments; unit breakdown is comprised of eighteen (18) 1-bedroom apartments and eight (8) 2-bedroom apartments; transportation is in abundance with quick access to the 174-175th Streets Subway station, offering direct access to the B and D lines and conveniently located in front of multiple bus stops, including the Bx1 and Bx2 routes; benefits from a vibrant environment with a diverse mix of national and local businesses, including supermarkets, local eateries, schools, and medical institutions.
PROPERTY FACTS
| Price Per Unit | $200,000 | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.93% | Lot Size | 0.14 AC |
| No. Units | 26 | Building Size | 27,335 SF |
| Property Type | Multifamily | No. Stories | 5 |
| Property Subtype | Apartment | Year Built | 1924 |
| Zoning | R8, Bronx, (C1) | ||
| Price Per Unit | $200,000 |
| Sale Type | Investment |
| Cap Rate | 6.93% |
| No. Units | 26 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 27,335 SF |
| No. Stories | 5 |
| Year Built | 1924 |
| Zoning | R8, Bronx, (C1) |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Refrigerator
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 17 | - | 500 |
| 2+1 | 9 | - | 650 |
PROPERTY TAXES
| Parcel Number | 02823-0045 | Improvements Assessment | $400,680 |
| Land Assessment | $58,860 | Total Assessment | $459,540 |
PROPERTY TAXES
Parcel Number
02823-0045
Land Assessment
$58,860
Improvements Assessment
$400,680
Total Assessment
$459,540
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