Three (3) Building, 24-Unit Multifamily Walk-Up Portfolio

1130-1134 & 1142 Bryant Avenue, Bronx, NY

$6,250,000

Price

6.5%

Cap Rate

$406,410

NOI

Overview
Cap Rate
6.5%
NOI
$406,410
Combined Building Size
17,090 sqft
Combined Lot Area
10,000 sqft
Combined Total Units
24
Price Per Sqft
$366
Zoning
R7-1
Floors
4
Description

Ariel Property Advisors is pleased to present 1130-1134 & 1142 Bryant Avenue, a package of three (3) 8-unit walk-up multifamily buildings. The property is located on the east side of Bryant Avenue between East 167th Street and W Farms Road in the Foxhurst section of the Bronx.

1130-1134 Bryant Avenue are two contiguous 4-story multifamily walk-up buildings totaling 11,466 square feet containing 16 units. The properties are comprised of five (5) three-bedroom apartments and three (3) four-bedroom apartments. Both assets are encumbered by a J-51 Tax Exemption expiring in 2024 & 2041 while the J-51 Tax Abatement expires in 2029 & 2040. 1130-1134 Bryant Avenue are currently leased out to a non-profit organization on a NNN (Triple Net Lease) basis. The leases are expiring soon, this leaves upside for the investor to get a new program in the buildings or renew the current tenants lease

1142 Bryant Avenue is a 4-story, 5,696 gross square feet building consisting of 8-units. The property is comprised of five (5) three-bedroom apartments and three (3) four-bedroom apartments. The portfolio provides immediate access to a wide variety of transportation options such as the 6 train located just two blocks away at Whitlock Ave and the 2,5 trains only four blocks away on Simpson Street & Westchester Ave. Additionally, the properties are under Tax Class 2B, which provides investors a limitation on tax increases for the future. 1130-1134 & 1142 Bryant Avenue presents the rare opportunity to acquire three properties of scale and steady cash-flow in a rapidly growing area of the Bronx. For more information about these properties, please contact the exclusive sales agents listed below.

Highlights
  • Two (2) Contiguous buildings with a NNN (Triple Net Lease)
  • J-51 Tax Exemption Expiring on 2024 & 2041, J-51 Tax Abatement Expiring on 2029 & 2040
  • Tax Class 2B
  • 6 Subway Lines within a few blocks away
  • Gut Renovations recently done
Documents
Title
Weblink
Flyer
* Documents permissions are set by the listing owner, request information to access locked documents.

Location
Gallery