959 Anderson AveThe Bronx, NY 10452

Property Details for 959 Anderson Ave

Year built

2022

Lot size

0.11 AC

Property size (Sq ft)

18,781 SF

Zone code

R7-1

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

02507-0032

APU

25070032

Description

This exceptional investment opportunity presents a brand-new, seven-story multifamily building located at 959 Anderson Avenue in the Bronx, New York. Completed in 2023, this 18,781 square foot property boasts 26 units, including 2 studios, 15 one-bedroom units, and 9 two-bedroom units, along with 8 parking spaces. The building enjoys a 100% occupancy rate, generating a substantial net operating income (NOI) of $845,595, resulting in an attractive 8.50% capitalization rate. The asking price is $9,950,000. This stabilized investment benefits from a 421A tax abatement for the next 35 years, ensuring long-term financial stability. All units are occupied by program tenants providing reliable, consistent monthly rent payments. This property represents a rare opportunity to acquire a high-performing, newly constructed multifamily asset in a rapidly growing market. The building's modern design and prime location in Bronx County, zip code 10452, combine to create a highly desirable investment.

• CAP approach

  CAP return

  Valuation

  6%

  $3,850,275

  6.5%

  $3,554,100

  7%

  $3,300,236

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,803,584

  Geo Method

  $3,803,584

• Alternative Use

  Use

  Valuation

  Residential

  $3,554,100

  Hospitality

  $3,255,536

  Educational

  $2,708,568

  Medical

  $2,801,720

  Retail

  $4,213,328

Location Insight

City

Bronx

County

Bronx

State

New York

Latitude

40.8315

Longitude

-73.9281

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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