Central Bronx Portfolio | Six Multifamily & Mixed-Use Buildings Containing 203 Units Located in Morris Heights

1812 Harrison Avenue, Bronx, NY

$16,000,000

Price

6.91%

Cap Rate

$1,071,477

NOI

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Street
Map
Overview
Cap Rate
6.91%
NOI
$1,071,477
Combined Building Size
188,721 sqft
Combined Lot Area
46,534 sqft
Combined Total Units
203
GRM
5.62
Price Per Sqft
$82
Price Per Unit
$76,355
Highlights
  • Package of five (5) multifamily walk-up and one (1) elevator building located in the Morris Heights section of the Bronx
  • Consists of 200 multifamily units, 3 commercial units and spans a total of 188,721 gross square feet
  • Unit breakdown is comprised of nineteen (19) studio apartments, ninety-three (93) 1-bedroom apartments, fifty (50) 2-bedroom apartments, thirty-eight (38) 3-bedroom apartments, and three (3) commercial units
  • Benefits from a J-51 tax alteration on each of the buildings that are set to expire in 2034/2035
  • Transportation is in abundance surrounding all six buildings as the properties are located in close proximity to the 4/B/D subway lines on Jerome Avenue & Grand Concourse
  • Abundance of national/local commercial tenants are accessible for residents on E Tremont Avenue, E Burnside Avenue, & Grand Concourse
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