For Sale
$2,300,000

1413 Prospect AveThe Bronx, NY 10459

Prime Bronx Location, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 21-unit elevator apartment building in the Bronx, NY. The property boasts 14,845 square feet situated on a 6,270 square foot lot (41 ft x 164 ft, Block 2962, Lot 42) and zoned R6. Built in 1920, this five-story building comprises five studios, five one-bedroom, ten two-bedroom, and one three-bedroom units. The building offers a strong NOI of $156,559, resulting in a 6.81% cap rate. The asking price is $2,300,000, translating to $154.93 per square foot and $109,523.81 per unit. Its central location in Charlotte Gardens provides convenient access to the 2 and 5 subway lines, local shops, and Crotona Park, making it highly attractive to tenants. This rent-stabilized building presents a compelling investment opportunity with significant potential for future growth. The property's strong cash flow and desirable location make it an ideal addition to any investor's portfolio.

Highlights

  • $2,300,000 asking price for a 21-unit apartment building.
  • 14,845 square feet, multifamily, Class C property.
  • $154.93 price per square foot, with a 6.81% cap rate and $156,559 NOI.
  • 21 units, including studios, one-bedrooms, two-bedrooms, and a three-bedroom unit.
  • Built in 1920, single building on a 6,270 square foot lot, R6 zoning.

Property Details for 1413 Prospect Ave

Property type
Apartment buildings
Square Feet
14,845 SF
Class
C
Year Built
1920
Buildings
1
Units
21

Location Insight

City
The Bronx
County
Bronx
State
New York
Latitude
40.8323402
Longitude
-73.8968966
1413 Prospect Ave, The Bronx, New York

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1413 Prospect Ave
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