Listed by Ariel Property Advisors
$5,200,000
Hoffman Street Portfolio
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 32,752
Units 32
Cap Rate 12.94%
Pro-Forma Cap Rate 16.09%
Price per SqFt $159
Class B
Stories 16
Lot Size (SqFt) 11,912
Zoning R6 / C1-4
Multifamily | 32 Units | $162,500/unit
Marketing description
For Sale
Investment highlights
- Rare opportunity to acquire a four building package totaling 32-units in prime Belmont
- Portfolio wide 421a tax benefit in place, significantly reducing the effective tax burden
- Unit mix comprised of six (6) one-bedroom apartments and twenty-six (26) two-bedroom apartments
- Individually equipped with in-unit PTAC heating & cooling systems and dedicated hot water heaters for enhanced tenant comfort and reduced building-wide maintenance
- Located steps from Fordham University and Belmont’s Little Italy corridor, ensuring consistent rental demand
- Concentrated scale allowing for seamless management efficiencies
- Located just 1 blocks from the famous Arthur Avenue, offering immediate access to popular eateries in the heart of The Bronx’s Little Italy, including the Arthur Avenue Retail Market which offers a variety of grocery stores, restaurants, and cafés.
- Excellent access to transportation with nearby 4, B & D subway lines and the Metro-North Fordham Station, providing direct connectivity to Manhattan and the outer boroughs
- Expiration 2033
Listing Contacts
Listed by Ariel Property Advisors
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$--
$--
Valuation Metrics
0
DSCR
--
Cap Rate
--
ROI
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
