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1761 Topping Ave 6 Unit Apartment Building $2,988,000 ($498,000/Unit) 9.51% Cap Rate Bronx, NY 10457
Investment Highlights
- Calling All Investors, Developers & End-Users!!! 9.51 Cap Brand New 10 Unit Bronx Apartment Building Near Grand Concourse For Sale!!!
- The Property Is Located In The Heart Of The Bronx Between 1-95, Grand Concourse & Webster Ave.!!!
- Neighbors Include Yankee Stadium, Shell, Gulf, 7-Eleven, Dunkin’, Key Food, White Castle, Western Beef, +++!!!
- The Property Features, Excellent Signage, Great Exposure, R7-1 Zoning, High 8’ Ceilings, Sprinklers, 6 Parking Spaces, Gated Side Yard, +++!!!
- The Property Was Built In 2025 & Has A 485X Tax Abatement That Expires In 2061!!!
- This Property Offers HUGE Upside Potential!!!
Executive Summary
Calling All Investors, Developers & End-Users!!! 9.51 Cap Brand New 10 Unit Bronx Apartment Building Near Grand Concourse For Sale!!! The Property Features, Excellent Signage, Great Exposure, R7-1 Zoning, HIgh 8’ Ceilings, Sprinklers, 6 Parking Spaces, Gated Side Yard, Rear Yard, Low Property Taxes, 4 Stories, 3 Phase Power, All New LED Lighting, A/C, +++!!! The Property Is Located In The Heart Of The Bronx Between 1-95, Grand Concourse & Webster Ave.!!! The Property Was Built In 2025 & Has A 485X Tax Abatement That Expires In 2061!!! Neighbors Include Yankee Stadium, Shell, Gulf, 7-Eleven, Dunkin’, Key Food, White Castle, Western Beef, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!!
Income:
Unit 1A (Studio): $30,000 Ann.
Unit 1B (Studio): $30,000 Ann.
Unit 1C (Studio): $30,000 Ann.
Unit 2A (1 Br. Apt.): $32,400 Ann.
Unit 3A (1 Br. Apt.): $32,400 Ann.
Unit 3B: $25,200 Ann. (Available)
Unit 4A (Studio): $30,000 Ann.
Unit 4B (1 Br. Apt.): $32,400 Ann.
Unit 4C: $25,200 Ann. (Available)
Pro Forma Gross Income: $300,000 Ann.
Expenses:
Electric: $2,410 Ann.
Insurance: $6,823 Ann.
Water & Sewer: $3,869 Ann.
Taxes: $2,691 Ann.
Total Expenses: $15,793 Ann.
Net Operating Income (NOI): $284,207 Ann. (Pro Forma 9.51% Cap!!!)
Income:
Unit 1A (Studio): $30,000 Ann.
Unit 1B (Studio): $30,000 Ann.
Unit 1C (Studio): $30,000 Ann.
Unit 2A (1 Br. Apt.): $32,400 Ann.
Unit 3A (1 Br. Apt.): $32,400 Ann.
Unit 3B: $25,200 Ann. (Available)
Unit 4A (Studio): $30,000 Ann.
Unit 4B (1 Br. Apt.): $32,400 Ann.
Unit 4C: $25,200 Ann. (Available)
Pro Forma Gross Income: $300,000 Ann.
Expenses:
Electric: $2,410 Ann.
Insurance: $6,823 Ann.
Water & Sewer: $3,869 Ann.
Taxes: $2,691 Ann.
Total Expenses: $15,793 Ann.
Net Operating Income (NOI): $284,207 Ann. (Pro Forma 9.51% Cap!!!)
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$300,000
|
$32.82
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$300,000
|
$32.82
|
| Taxes |
$2,691
|
$0.29
|
| Operating Expenses |
$13,102
|
$1.43
|
| Total Expenses |
$15,793
|
$1.73
|
| Net Operating Income |
$284,207
|
$31.09
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $300,000 |
| Annual Per SF | $32.82 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $300,000 |
| Annual Per SF | $32.82 |
| Taxes | |
|---|---|
| Annual | $2,691 |
| Annual Per SF | $0.29 |
| Operating Expenses | |
|---|---|
| Annual | $13,102 |
| Annual Per SF | $1.43 |
| Total Expenses | |
|---|---|
| Annual | $15,793 |
| Annual Per SF | $1.73 |
| Net Operating Income | |
|---|---|
| Annual | $284,207 |
| Annual Per SF | $31.09 |
Property Facts
| Price | $2,988,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $498,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.05 AC |
| Cap Rate | 9.51% | Building Size | 9,141 SF |
| No. Units | 6 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 2024 |
| Property Subtype | Apartment | Parking Ratio | 0.66/1,000 SF |
| Zoning | R7-1 - medium-density, non-contextual residential zoning district | ||
| Price | $2,988,000 |
| Price Per Unit | $498,000 |
| Sale Type | Investment |
| Cap Rate | 9.51% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.05 AC |
| Building Size | 9,141 SF |
| No. Stories | 4 |
| Year Built | 2024 |
| Parking Ratio | 0.66/1,000 SF |
| Zoning | R7-1 - medium-density, non-contextual residential zoning district |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Storage Space
- Kitchen
- Refrigerator
- Yard
Site Amenities
- 24 Hour Access
- Fenced Lot
- Security System
- Tenant Controlled HVAC
- Storage Space
- Bicycle Storage
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
Exceptionally walkable
90/100
Fairly drivable
40/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 02798-0046 | Total Assessment | $734,796 |
| Land Assessment | $33,696 | Annual Taxes | $2,691 ($0.29/SF) |
| Improvements Assessment | $701,100 | Tax Year | 2026 |
Property Taxes
Parcel Number
02798-0046
Land Assessment
$33,696
Improvements Assessment
$701,100
Total Assessment
$734,796
Annual Taxes
$2,691 ($0.29/SF)
Tax Year
2026
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1761 Topping Ave