3944 Barnes AveBronx, NY 10466

Property Details for 3944 Barnes Ave

Year built

1931

Lot size

0.06 AC

Property size (Sq ft)

5,451 SF

Zone code

R5

Property type

Apartment buildings

APN

04848-0041

APU

48480041

Description

This meticulously maintained six-family property at 3944 Barnes Avenue in the Bronx, New York, presents a compelling investment opportunity for both seasoned investors and owner-occupants. The property boasts a substantial 5,451 square feet of living space situated on a conveniently sized 0.06-acre lot. Its central location offers easy access to a variety of amenities, including shopping centers, public transportation options, schools, and places of worship, ensuring high occupancy rates and strong rental demand. The building's excellent condition translates to minimal maintenance requirements, maximizing potential returns. This translates to a strong cap rate, making it an attractive proposition for those seeking a stable and profitable investment. The property's current configuration as a six-family dwelling provides immediate income potential. The strategic location within the Bronx further enhances its appeal, given the area's ongoing growth and development. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a desirable location. Don't miss this chance to secure a valuable asset with significant long-term potential. The asking price is $999,777.

• CAP approach

  CAP return

  Valuation

  6%

  $1,117,504

  6.5%

  $1,031,542

  7%

  $957,861

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,103,953

  Geo Method

  $1,103,953

• Alternative Use

  Use

  Valuation

  Residential

  $1,031,542

  Hospitality

  $944,887

  Educational

  $786,135

  Medical

  $813,172

  Retail

  $1,222,877

Location Insight

City

Bronx

County

Bronx

State

New York

Latitude

40.8859

Longitude

-73.8578

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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