Listed by Ariel Property Advisors
$6,600,000
1316 Morris Avenu
Details
Property Type Multifamily
Sub Type Apartment Building
Units 100
Cap Rate 6.20%
Price per SqFt $87
Buildings 3
Stories 5
Lot Size (SqFt) 4,621 - 9,242
Zoning R7-1
Multifamily | 100 Units | $66,000/unit
Marketing description
For Sale
Investment highlights
- 3 Building, 100-unit portfolio in the Claremont Village neighborhood of the Bronx
- Portfolio benefits from J-51 Tax Abatement expiring in 2027 and 2028.
- All 3 buildings are professionally managed and are within a block of each other offering a new owner a streamlined management process
- In close proximity to major retail corridors on East 170th Street and Grand Concourse and surrounded by two major Bronx parks, Claremont Park and Grant Park
- Portfolio also offers easy accessibility to transportation with Bx11, Bx32 and B/D subway stops
- 1316 Morris Ave
- Block / Lot: 2785 / 11
- Lot Dimensions: 50' x 92.42'
- Lot Sq. Ft: 4,621
- Building Dimensions: 50' x 80.5'
- Stories: 5
- Residential Units: 20
- Building Sq. Ft: 16,050
- Zoning: R7-1
- Far: 3.44
- Buildable Sq. Ft.: 15,896
- Tax Class: 2
- Assessment (25/26): $322,650
- Taxes before Exemptions: $40,331
- J51 Exemption (34 Yr Old Version): ($79,236)
- Real Estate Taxes (25/26): $30,427
- Tax Exemption Expiration: 2028
- 1361 College Avenue
- Block / Lot: 2785 / 54
- Lot Dimensions: 100' x 92.42'
- Lot Sq. Ft: 9,242
- Building Dimensions: 100' x 79'
- Residential Units: 40
- Building Sq. Ft.: 30,000
- Buildable Sq. Ft: 31,792
- Air Rights Sq. Ft.: 1,792
- Assessment (25/26): $677,790
- Taxes before Exemptions: $84,724
- J51 Exemption (34 Yr Old Version): ($246,852)
- Real Estate Taxes (25/26): $53,867
- 1335 College Avenue
- Block / Lot: 2785 / 56
- Assessment (25/26): $696,240
- Taxes before Exemptions: $87,030
- J51 Exemption (34 Yr Old Version): ($127,692)
- Real Estate Taxes (25/26): $71,069
- Tax Exemption Expiration: 2027
Listing Contacts
Listed by Ariel Property Advisors
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