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959 Anderson Ave 25 Unit Apartment Building $9,500,000 ($380,000/Unit) 8.58% Cap Rate Bronx, NY 10452

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Investment Highlights

421A tax abatement
8.5% Cap rate in place

turn key new construction

Executive Summary

Introducing 959 Anderson Avenue a turn key new construction 26 Family a one block from Yankee Stadium in the heart of Highbridge Bronx. Tenants are all paying & the current NOI is $815,000. (8.5% Cap Rate) The Colliers appraisal given last week values 959 Anderson at $11,500,000. The property has a new 35 year 421A tax abatement & was recently occupied this year. (the tenants are all up to date & the avg.

Property Facts

Price	$9,500,000	Building Class	B
Price Per Unit	$380,000	Lot Size	0.12 AC
Sale Type	Investment	Building Size	18,871 SF
Cap Rate	8.58%	Average Occupancy	100%
Sale Conditions	1031 Exchange Build to Suit	No. Stories	7
No. Units	25	Year Built	2022
Property Type	Multifamily	Parking Ratio	0.42/1,000 SF
Property Subtype	Apartment	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style	Mid-Rise
Zoning	R7-1 - R7 Zoning is considered medium density residential. It is broken into 2 basic zoning districts R7-1 and R7-2. R7-1 has more parking requirements.

Price	$9,500,000
Price Per Unit	$380,000
Sale Type	Investment
Cap Rate	8.58%
Sale Conditions	1031 Exchange Build to Suit
No. Units	25
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Mid-Rise
Building Class	B
Lot Size	0.12 AC
Building Size	18,871 SF
Average Occupancy	100%
No. Stories	7
Year Built	2022
Parking Ratio	0.42/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	R7-1 - R7 Zoning is considered medium density residential. It is broken into 2 basic zoning districts R7-1 and R7-2. R7-1 has more parking requirements.