1209 Elder Avenue, New York, NY, 10472
$1,950,000
Lot Size
4,000 sqft
Year Built
1913
Stories
5
Type
Commercial
Estimate. Actual payment depends on credit, lender, taxes, and insurance.
Calling All Investors, Developers & End-Users!!! 11 Unit Bronx Apartment Building Just Off Westchester Ave. For Sale!!! The Building Features Excellent Signage, Great Exposure, C4-2 (R6 Equivalent) Zoning, High 9’ Ceilings, (11) 3 Br. Apartments, 5 Stories, Large Rear Yard, All New LED Lighting, 3 Phase Power, A/C, +++!!!! The Property Is Located In The Heart Of Park Versailles Just Off Busy Westchester Avenue!!! The Property Is Situated Between The Bronx River Pkwy., I-95, I-278 & Sheridan Blvd.!!! Neighbors Include Chase Bank, Bank Of America, Verizon, T-Mobile, AT & T, Extra Space Storage, CubeSmart Self Storage, Boost Mobile, CVS, Dunkin’, CityMD, Shell, BP Gas, Foot Locker, Cookie’s Department Stores, McDonald’s, Burger King, Papa John’s, Domino’s, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!! Income: Unit 1 (3 Br. Apt.): $6,600 Ann.; No Lease. Unit 2 (3 Br. Apt.): $23,757.24 Ann. Lease Exp.: 11/30/26. Unit 3 (3 Br. Apt.): $24,828.60 Ann.; Lease Exp.: 3/31/26. Unit 4 (3 Br. Apt.): $27,660 Ann.; Lease Exp.: 3/31/27. Unit 5 (3 Br. Apt.): $30,000 Ann.; Lease Exp.: 3/31/27. Unit 6 (3 Br. Apt.): $23,870.64 Ann.; Lease Exp.: 1/31/27. Unit 7 (3 Br. Apt.): $27,833.28 Ann.; Lease Exp.: 11/30/26. Unit 8 (3 Br. Apt.): $23,789.04 Ann.; Lease Exp.: 11/30/26. Unit 9 (3 Br. Apt.): $25,260 Ann.; Lease Exp.: 2/28/27. Unit 10 (3 Br. Apt.): $21,004.56 Ann.; Lease Exp.: 10/31/27. Unit 11 (3 Br. Apt.): $22,093.68 Ann.; Lease Exp.: 7/31/27. Gross Income: $256,697.04 Ann. Expenses: Oil: $20,092.61 Ann. Electric: $2,355.18 Ann. (Common Areas Only) Maintenance & Repairs: $5,500 Ann. Insurance: $10,000 Ann. Water & Sewer: $13,286.04 Ann. Taxes: $32,129.96 Ann. Total Expenses: $83,363.79 Ann. Net Operating Income (NOI): $173,333.25 Ann. (8.88 Cap!!!)
Listed by Richard Matt Shane, All Island Estates Realty Corp
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