3530 Mickle Ave, Bronx, NY 10469

Building Details

Year Built

2018

Listing agent Blue Key Real Estate Brokerage

Listing office Show Phone

Listing date Nov 26, 2024

Source Xome

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of Blue Key Real Estate Brokerage

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Overview

Located in the Williamsbridge section of the Bronx, this 28-unit property presents an investment opportunity with strong cash flow and long-term potential. The property benefits from a 421a Tax Abatement. All units are fully electric, eliminating gas expenses, and tenants are responsible for all utilities, which minimizes operating costs. Each unit includes individual hot water tanks, stainless steel appliances, and Mitsubishi split-unit heating and cooling systems. The property also features a studio super’s unit. Additional features include digital video intercoms in each unit, interior and exterior surveillance cameras, and 24 outdoor parking spaces. The property has low operating expenses. The property's net operating income (NOI) is $705,068, with a net capitalization rate of 6.1%. This 17,000 square foot asset is suitable for portfolio expansion.

Suggested Use

Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

• Map
• Local Demand

City

Bronx

County

Bronx

State

New York

Longitude

-73.846456

Latitude

40.879198

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FAQs

What type of property is this?

Apartment building - Prime income-producing 28-unit property in Williamsbridge, Bronx with modern amenities.

Where is this apartment building located?

The property is located at 3530 Mickle Ave Bronx, NY.

What is the asking price?

The asking price for this property is $10,800,000.

What are key features of this property?

This property features: Strong cash flow with a Net Operating Income (NOI) of $705,068 and a 6.1% Net Cap Rate.; 28 Units benefit from a 421a Tax Abatement.; Fully electric units with tenants responsible for all utilities, minimizing operating costs.