1694 Banyer PlThe Bronx, NY 10473

Property Details for 1694 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

03660-0024

APU

36600024

Description

This exceptional six-unit apartment building at 1694 Banyer Place in the Bronx, NY, presents a compelling investment opportunity. Built in 2004, this all-brick and cement masonry structure boasts 4,500 square feet on a 0.05-acre lot. The property is in excellent condition, featuring recently updated units and a new roof. Each of the six apartments benefits from individual gas and electric meters, separate boilers, and new hot water heaters, ensuring efficient utility management and potential for increased rental income. Finished walk-out basements provide additional space for residents. The property also includes a driveway easement and a fenced backyard, enhancing both convenience and security. Its strategic location offers easy access to major highways, public transportation, and a variety of retail stores, making it highly attractive to tenants. The building's strong cash flow, coupled with a 7.00% cap rate, makes this a truly remarkable investment prospect in a thriving New York City borough. The property is classified as a Class B multifamily building and is situated in the 10473 zip code.

• 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

-73.8696

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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