1696 Banyer PlThe Bronx, NY 10473

Property Details for 1696 Banyer Pl

Year built

2004

Lot size

0.05 AC

Property size (Sq ft)

4,500 SF

Zone code

R6

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

03660-0025

APU

36600025

Description

This exceptional multifamily investment opportunity presents a well-maintained, 4,500 square foot apartment building located at 1696 Banyer Place in The Bronx, New York, 10473. Built in 2004, this all-brick and cement masonry structure boasts a 7.00% cap rate and is currently 100% occupied, offering immediate cash flow. The property sits on a 0.05-acre lot and features individually metered utilities (gas and electric) for each apartment, separate boilers, and new hot water heaters. Finished walk-out basements add extra value and functionality. Residents enjoy the convenience of a driveway easement and a fenced-in backyard. Its strategic location provides easy access to major highways, public transportation, and various retail stores, enhancing its appeal to tenants. The gross lease structure simplifies management, and the building's excellent condition minimizes immediate maintenance needs. This is a turnkey investment ideal for those seeking a strong return on investment in a thriving New York City borough. The asking price is $1,150,000.

• CAP approach

  CAP return

  Valuation

  6%

  $922,541

  6.5%

  $851,576

  7%

  $790,749

• Comparable approach

  Method

  Valuation

  Relative Method

  $911,354

  Geo Method

  $911,354

• Alternative Use

  Use

  Valuation

  Residential

  $851,576

  Hospitality

  $780,039

  Educational

  $648,983

  Medical

  $671,303

  Retail

  $1,009,530

Location Insight

City

Bronx

County

Bronx

State

New York

Latitude

40.824

Longitude

-73.8695

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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