1314 Seneca AveThe Bronx, NY 10474

This exceptional six-story mixed-use property at 1314 Seneca Avenue in the Bronx, New York, offers a unique investment opportunity. The building encompasses a substantial 65,137 square feet situated on a 15,000 square foot lot and is zoned R6. The property comprises 62 units, including 60 residential apartments and two occupied commercial spaces. The residential mix includes 16 one-bedroom, 26 two-bedroom, 15 three-bedroom, and 3 four-bedroom units. A significant advantage is the current Article XI tax abatement, providing substantial tax savings. This 40-year abatement, initiated in 2018, caps taxes at 1% of gross rent until 2028 and 6.5% until 2058. The property benefits from a recently approved 610 amendment to the existing regulatory agreement, paving the way for considerable future revenue increases. Its convenient location near multiple subway lines (2/5/6) and major roadways like the Bruckner Expressway and Westchester Avenue ensures excellent accessibility to Westchester County and other boroughs. This property presents a compelling investment prospect with strong potential for long-term growth and profitability. The building is located in Bronx County, NY, 10474.