You'll Fall Love With These Two Commercial Buildings At The Vicinity Of Bronx NY
mott haven area 2 building deal!+
15 apts plus 2 stores total
18,202 sf total!!5.6% cap rate
.12 ac lot/noi $368,483
Address: east 139th st & willis avenue
Area: mott haven/139th st area/willis ave area
Description: property 1-
4 story walkup /8 apartments
built in 2008
approx 8,702 built sf
near 138th st 3rd ave train station
4 story walkup
7 apartments(26 rooms)
built in 2012
built approx 9,500 sf
PRIME 2 BUILDING PACKAGE DEAL!!
Cap Rate 5.6%
Building Size 18,165 sqft
Year Built 2008 & 2012
Price Per Sqft$357
Price Per Unit$342,105
Zoning R6, C1-4, C2-4
Two 4-Story Buildings | 18,165 SF
New Constructions | 15 Rent Stabilized Apartments | 2 Stores
421-A Tax Exemption |
ICIP Exemption Program
two newly constructed buildings in the Mott Haven section of the Bronx (collectively the “Properties”). Willis Avenue area property is a 4-story corner, walkup apartment building with one residential condo which includes seven apartments and one commercial condo which includes two stores. Built in 2012, this property has 9,463± SF. This property benefits from both a 421A Tax Exemption which expires in 2027 as well as an ICIP Tax Exemption which expires in 2039. Willis Avenue area property is just two blocks south of the Hub and the #2 and #5 Subway at the Third Avenue and East 149th Street intersection.
Constructed in 2008, East 139th Street area property is a 4-story walkup apartment building with eight rent-stabilized apartments, totaling 8,702± SF. This property benefits from a 421A Tax Exemption which expires in 2035. is just one block north of the #6 Subway at East 138th Street. Both properties are within close proximity to Lincoln Medical Center and Saint Mary’s Park and offer easy access to Major Deegan (I-87) and the Bruckner (I-287) Expressways.
Stable Cash Flow With 94% Occupancy
New construction with low operating costs; tenants pay for heat
Willis Avenue area property has nine years left on the 421A Tax Exemption and 21 years left on the ICIP Tax Exemption
East 139th Street area property has 17 left on the 421A Tax Exemption
Strong locations; rapidly gentrifying neighborhood with quick access to Manhattan
Retail, Multifamily, Mixed-Use
R6, C1-4, C2-4
RED HOT BRONX INVESTMENT!
JANUARY 2018 UPDATE:
two newly constructed walkup buildings located in the Mott Haven neighborhood of the Bronx. The Properties total 18,165± SF and have relatively low taxes due to the 421A tax abatement program until 2027, 2035 and 2039 respectively Landlord is not responsible for heating (gas) costs and both buildings are fully-sprinklered.
The Properties are located in the heart of Mott Haven and within walking distance of the 2,5,6 subway stations at Third Avenue, as well as numerous MTA bus lines including the Bx15, Bx2, Bx21, and the Bx33, providing direct access into Manhattan. The well-maintained buildings with great existing income and cash flow and below market rents provide minimal capital improvement requirements and also significant upside upon unit rollover.
PRESENT OFFER TODAY; WON'T LAST LONG!
FOR MORE INFO: EMAIL OR TEXT THE LISTING AGENT FOR DETAILS OR SHOWING, MUST PRESENT PROOF OF FUND FOR FULL CONSIDERATION!!!