Investment Highlights
• Located on the north side of Cruger Avenue between Arnow Avenue & Allerton Avenue
• Comprised of 53 units, split up into fourty-seven (47) one-bedrooms, five (5) two-bedrooms, and one (1) 3-bedroom
• 6-story walk up building with 100’ of frontage and approximately 48,800 gross square feet
• Situated in a desirable location throughout the Bronx, surrounded by a plethora of neighborhood attractions such as the New York Botanical Garden & the Bronx Zoo
• Heating system was converted to duel-fuel boiler with new burner and water tanks in 2015/2016, new boiler was installed in 2023
• Professional management company maintained the property in excellent condition
• Close proximity to the 2 & 5 train and conveniently located around a variety of national retail tenants such as Bank of America, CVS, Walgreens, McDonalds, and more
• Priced well below replacement cost and 28% of units operating on preferential rents provide potential upside
Listing Status: | Available |
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Listing Type: | Highest & best offer |
Property Types: | Apartment Buildings |
Price: | $4,700,000 |
No. of Units: | 53 |
Cap Rate: | 5.66% |
GRM /GIM: | 7.39 |
Building Size: | 48,800 Sq ft |
No. of Stories: | 6 |
Opportunity Zone: | No |
Price per unit: | $88,679 |
Chicago & Midwest | July 25, 2024
Seattle & Northwest | July 25, 2024
California | July 25, 2024
CBRE | Nevada
Lee & Associates Commercial Real Estate Services
SVN | OAK Realty Advisors
Marcus & Millichap
California
North Carolina
California