Courtesy of: Richard Matt Shane, All Island Estates Realty Corp, matthewshane8828@gmail.com
Courtesy of: Richard Matt Shane, All Island Estates Realty Corp, matthewshane8828@gmail.com
$2,988,000
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Lot: 0.05 Acres
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Other
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$2,988,000
1761 Topping Avenue Calling All Investors, Developers & End-User!!! 9.51 Cap Brand New 10 Unit Bronx Apartment Building Near Grand Concourse For Sale!!! The Property Features, Excellent Signage, Great Exposure, R7-1 Zoning, HIgh 8' Ceilings, Sprinklers, 6 Parking Spaces, Gated Side Yard, Rear Yard, Low Property Taxes, 4 Stories, 3 Phase Power, All New LED Lighting, A/C, +++!!! The Property Is Located In The Heart Of The Bronx Between 1-95, Grand Concourse & Webster Ave.!!! The Property Was Built In 2025 & Has A 485X Tax Abatement That Expires In 2061!!! Neighbors Include Yankee Stadium, Shell, Gulf, 7-Eleven, Dunkin', Key Food, White Castle, Western Beef, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!! Income: Unit 1A (Studio): $30, 000 Ann. Unit 1B (Studio): $30, 000 Ann. Unit 1C (Studio): $30, 000 Ann. Unit 2A (1 Br. Apt.): $32, 400 Ann. Unit 3A (1 Br. Apt.): $32, 400 Ann. Unit 3B: $25, 200 Ann. (Available) Unit 4A (Studio): $30, 000 Ann. Unit 4B (1 Br. Apt.): $32, 400 Ann. Unit 4C: $25, 200 Ann. (Available) Pro Forma Gross Income: $300, 000 Ann. Expenses: Electric: $2, 410 Ann. Insurance: $6, 823 Ann. Water & Sewer: $3, 869 Ann. Taxes: $2, 691 Ann. Total Expenses: $15, 793 Ann. Net Operating Income (NOI): $284, 207 Ann. (Pro Forma 9.51% Cap!!!)
Courtesy of: Richard Matt Shane, All Island Estates Realty Corp, matthewshane8828@gmail.com
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