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251 E 236th St 23 Unit Apartment Building $2,650,000 ($115,217/Unit) 6.10% Cap Rate Bronx, NY 10470
Investment Highlights
- 23-Unit, 100% Occupied Multifamily, Stable In-Place Cash Flow
- $2,650,000 Offering Price at a 6.1% Capitalization Rate
- Strategic Woodlawn Heights Location, Adjacent to Westchester County
- Value-Add Potential via $9,743 in Preferential Rent Upside
- High-Income Bronx Pocket, Median Household Income of $75,750
- Woodlawn Metro-North, 2 and 5 Trains Providing Excellent Transit Access
Executive Summary
The New York Multifamily Group at Marcus & Millichap is pleased to exclusively offer 251 East 236th Street for sale, a 23-unit, 100% occupied rent-stabilized multifamily building in the Woodlawn Heights neighborhood of the Bronx. The property is approximately 17,400 square feet and features a unit mix consisting entirely of 15 one-bedroom and 8 two-bedroom apartments. The building is offered at $2,650,000, which represents a 6.1% capitalization rate based on the current Net Operating Income of $161,720.
Property Facts
| Price | $2,650,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $115,217 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 6.10% | Building Size | 17,400 SF |
| Gross Rent Multiplier | 6.7 | Average Occupancy | 100% |
| No. Units | 23 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1912 |
| Property Subtype | Apartment | ||
| Zoning | R4-1, Bronx | ||
| Price | $2,650,000 |
| Price Per Unit | $115,217 |
| Sale Type | Investment |
| Cap Rate | 6.10% |
| Gross Rent Multiplier | 6.7 |
| No. Units | 23 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 17,400 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1912 |
| Zoning | R4-1, Bronx |
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Exceptionally walkable
100/100
Moderately drivable
60/100
Exceptional public transit
100/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 03377-0080 | Improvements Assessment | $444,510 |
| Land Assessment | $37,350 | Total Assessment | $481,860 |
Property Taxes
Parcel Number
03377-0080
Land Assessment
$37,350
Improvements Assessment
$444,510
Total Assessment
$481,860
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251 E 236th St
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