Overview
Bronx Multifamily Investment Opportunity
This is a fully occupied, five-unit apartment building with two garages, located in the Williamsbridge section of the Bronx. The property features strong R4 zoning and six parking spaces. The building includes one three-bedroom apartment, one two-bedroom apartment, two one-bedroom apartments, and one studio apartment. Interior features include high eight-foot ceilings. The building has two stories. Additional features include a security camera system, upgraded electrical service, meters and panels, new windows, a new roof, a new gas steam boiler, and two new gas hot water heaters. LED lighting and 200 amp power are also present. The property is located in the heart of Williamsbridge, minutes from Van Cortlandt Park, situated between the Bronx River Parkway and Boston Road. Nearby neighbors include Toyota, Amazon, The Home Depot, Costco, LA Fitness, Macy's, Walgreens, Dave & Buster's, Burlington, and Aldi. The gross annual income is $143,820, with a net operating income of $117,623. Income from the units are as follows: one-bedroom apartment (BF): $29,784 annually (lease expires 2/28/25); one-bedroom apartment (BR): $22,740 annually (lease expires 9/30/25); three-bedroom apartment (Unit 1): $39,996 annually (month-to-month); studio apartment (2F): $21,900 annually (lease expires 8/30/25); two-bedroom apartment (2R): $24,600 annually (lease expires 12/1/24); and two garages: $4,800 annually (month-to-month). Annual expenses include gas ($4,819), maintenance and repairs ($500), water and sewer ($3,585), insurance ($6,148), superintendent ($4,308), and taxes ($6,837.36).
