910 Home St The Bronx, NY 10459

Property Details for 910 Home St

Year built

1910

Property size

3,903 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a 5-unit, three-story apartment building located at 910 Home Street in The Bronx, NY 10459. The property, built in 1910 and renovated 5 years ago, boasts 3,903 square feet on a 1,554 square foot lot and is currently 100% occupied, generating a NOI of $79,121, with a 6.33% cap rate. Significant value-add potential exists, with a pro-forma NOI projected at $136,769 and a pro-forma cap rate of 10.94%. The asking price is $1,250,000 ($250,000 per unit and $320.27 per square foot). The building features a mix of unit sizes: a three-bedroom and a two-bedroom on the first floor, a four-bedroom floor-through on the second, and a one-bedroom and a two-bedroom on the third. Each unit includes a full kitchen and bathroom. The basement, with 8-foot ceilings and two means of egress, offers potential for duplexing with the first floor, creating additional living space or a laundry facility. An additional 1,558 square feet of air rights allow for expansion. The building is individually metered for gas and electric, and has an oil boiler and two oil tanks. The Certificate of Occupancy is for a four-family and a store, with the fifth apartment currently linked to common area meters. The property's prime location, three blocks from the 2 & 5 subway lines, offers easy access to Manhattan and Brooklyn, and is near abundant retail options. The R7-1 zoning permits various development options. This property is ideal for both investors seeking significant returns and owner-occupants looking for income-generating potential.

Location Insight

City

The Bronx

County

Bronx

State

New York

Longitude

-73.8937041

Latitude

40.8282429