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627-629 Faile St 16 Unit Apartment Building $5,000,000 ($312,500/Unit) 6.52% Cap Rate Bronx, NY 10474
Executive Summary
627–629 Faile Street presents a rare opportunity to acquire a newly constructed (2021) multifamily asset in the rapidly
evolving South Bronx submarket. This 4-story, 16-unit mid-rise apartment building offers stable in-place income with strong
upside potential in one of New York City’s most active rental growth corridors.
evolving South Bronx submarket. This 4-story, 16-unit mid-rise apartment building offers stable in-place income with strong
upside potential in one of New York City’s most active rental growth corridors.
Property Facts
| Price | $5,000,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $312,500 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 6.52% | Building Size | 14,450 SF |
| No. Units | 16 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 2021 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R6 | ||
| Price | $5,000,000 |
| Price Per Unit | $312,500 |
| Sale Type | Investment |
| Cap Rate | 6.52% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.06 AC |
| Building Size | 14,450 SF |
| No. Stories | 4 |
| Year Built | 2021 |
| Opportunity Zone |
Yes |
| Zoning | R6 |
Amenities
Unit Amenities
- Balcony
- Dishwasher
- Washer/Dryer
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 16 | - | - |
1 1
Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 02766-0022 | Improvements Assessment | $342,460 |
| Land Assessment | $40,490 | Total Assessment | $382,950 |
Property Taxes
Parcel Number
02766-0022
Land Assessment
$40,490
Improvements Assessment
$342,460
Total Assessment
$382,950
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627-629 Faile St
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