27
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$2,800,000
Est. payment /mo
2,500 Sqft Lot
Active
1265 Elder AVE Bronx, NY 10472
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Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Subdivision Soundview
MLS Listing ID 1037411
Rental Info No
Year Built 1935
Annual Tax Amount $6,993
Lot Size 2,500 Sqft
Acres 0.0574
Property Sub-Type Multi Family
Source onekey2
Property Description
Fully renovated legal 8-unit free-market investment property! This turnkey, fully occupied property is situated in the Soundview/Parkchester area of the Bronx and offers strong existing income with exceptionally low owner expenses. The building consists of 7 studio apartments and 1 one-bedroom apartment, all free-market units. The entire property has been fully renovated with new finishes and systems throughout. The building is all electric, with tenants responsible for their own utilities. Each apartment features central heating and air conditioning through mini-split systems and its own dedicated hot water heater. Building features include 8 water heaters, 9 electric meters, parking can be utilized in the rear of the building with a shared driveway, and potential for additional parking income. Current rental income consists of 7 studios at $2,440 per month each and 1 one-bedroom apartment at $2,484 per month, generating total monthly income of $19,564 and annual gross income of $234,768. Annual operating expenses are approximately $18,500, including $7,000 in property taxes, $8,000 in insurance, $2,000 in water, and $1,500 in common electric. Current Net Operating Income is approximately $216,268 annually, representing an approximate 7.72% cap rate at the $2,800,000 asking price before any additional parking income. With tenants responsible for their own electric, heating, air conditioning, and hot water costs, owner expenses remain exceptionally low. A rare opportunity to acquire a fully renovated, fully occupied, income-producing multifamily property in the Bronx.
Location
State NY
County Bronx County
Rooms
Basement Finished, See Remarks
Interior
Heating Electric
Cooling Central Air, Ductless, Electric
Flooring Hardwood
Fireplace No
Appliance Electric Range, Electric Water Heater, Refrigerator
Exterior
Parking Features Other
Utilities Available Electricity Connected, Sewer Connected, Trash Collection Public, Water Connected
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Schools
High Schools Bronx 12
School District Bronx 12
Others
Special Listing Condition None
Listed by Real Broker NY LLC • Shpresa Camaj
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