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FREE MARKET ! VERY LOW TAXES!! 864 E 221st St 14 Unit Apartment Building $3,750,000 ($267,857/Unit) 10.04% Cap Rate Bronx, NY 10467
INVESTMENT HIGHLIGHTS
- 12 of 14 Free market units
- Legal basement that is fully above grade
- Extreamly low tax bill
- Fully Brick
EXECUTIVE SUMMARY
Welcome to 864 East 221st Street, a exceptional investment opportunity located in the heart of the Williamsburg section of the Bronx. We are pleased to present this impressive 15,750 square foot, 4-story building comprising 14 residential units, boasting a robust cap rate exceeding 10% CAP.
This outstanding property features a mix of predominantly three-bedroom layouts, offering ample living space for tenants. The building benefits from extremely low taxes, further enhancing its investment appeal. Situated on a quiet block, the property provides a tranquil environment for residents.
Projections indicate significant potential for cap rate growth, driven by the fact that most units are free market and currently rented to programs. This presents a compelling opportunity for savvy investors to capitalize on increasing cash flows and long-term appreciation.
Key Highlights:
* 15,750 square foot, 4-story building
* 14 residential units (12 Free Market)
* Cap rate exceeding 8.25%
* Predominantly three-bedroom layouts
* Extremely low taxes
* Quiet block location
* Projections for cap rate growth on lese renewals
Don't miss this rare opportunity to acquire a high-performing asset in a thriving neighborhood. Contact us today to schedule a viewing and make this exceptional property yours
This outstanding property features a mix of predominantly three-bedroom layouts, offering ample living space for tenants. The building benefits from extremely low taxes, further enhancing its investment appeal. Situated on a quiet block, the property provides a tranquil environment for residents.
Projections indicate significant potential for cap rate growth, driven by the fact that most units are free market and currently rented to programs. This presents a compelling opportunity for savvy investors to capitalize on increasing cash flows and long-term appreciation.
Key Highlights:
* 15,750 square foot, 4-story building
* 14 residential units (12 Free Market)
* Cap rate exceeding 8.25%
* Predominantly three-bedroom layouts
* Extremely low taxes
* Quiet block location
* Projections for cap rate growth on lese renewals
Don't miss this rare opportunity to acquire a high-performing asset in a thriving neighborhood. Contact us today to schedule a viewing and make this exceptional property yours
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$495,844
|
$31.48
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$495,844
|
$31.48
|
| Taxes |
$36,090
|
$2.29
|
| Operating Expenses |
$82,997
|
$5.27
|
| Total Expenses |
$119,087
|
$7.56
|
| Net Operating Income |
$376,757
|
$23.92
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $495,844 |
| Annual Per SF | $31.48 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $495,844 |
| Annual Per SF | $31.48 |
| Taxes | |
|---|---|
| Annual | $36,090 |
| Annual Per SF | $2.29 |
| Operating Expenses | |
|---|---|
| Annual | $82,997 |
| Annual Per SF | $5.27 |
| Total Expenses | |
|---|---|
| Annual | $119,087 |
| Annual Per SF | $7.56 |
| Net Operating Income | |
|---|---|
| Annual | $376,757 |
| Annual Per SF | $23.92 |
PROPERTY FACTS
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | $2,288 | 700 |
| 3+1 | 11 | $2,698 | 850 - 950 |
| 4+1 | 1 | $3,740 | 850 - 950 |
1 1
Walk Score®
Very Walkable (82)
Transit Score®
Rider's Paradise (90)
Bike Score®
Very Bikeable (79)
PROPERTY TAXES
| Parcel Number | 04679-0073 | Total Assessment | $288,720 (2025) |
| Land Assessment | $58,050 (2025) | Annual Taxes | $36,090 ($2.29/SF) |
| Improvements Assessment | $230,670 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
04679-0073
Land Assessment
$58,050 (2025)
Improvements Assessment
$230,670 (2025)
Total Assessment
$288,720 (2025)
Annual Taxes
$36,090 ($2.29/SF)
Tax Year
2024
CONTACTS
-
Avraham Birnbaum -
Yaakov Pliner -
Reuben Lugassy -
Shaya Rosenberg -
Twelve Stones Realty LLC
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FREE MARKET ! VERY LOW TAXES!! | 864 E 221st St
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