Melrose Avenue Bronx, NY 10451

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Melrose Avenue Bronx, NY 10451

$3,700,000.00

  • Five story mixed-use building consisting of 12 residential units and 2 commercial units.
  • Building is gut renovated with new electrical and a new roof.
  • All apartments are 3 bedroom with 1 bathroom.
  • Nine apartments are on a city program with 7 years remaining on a 10-year lease. One apartment is rent stabilized.
  • The Deli has 7 year remaining.
  • The Beauty Supply Store has 3 years remaining with a 5-year option to renew. The Beauty Supply Store has separate gas, water & electric meters.
  • Building has a 24-hour door man.
  • 80-85% of expenses are paid by program.
  • Price ~ $3,700,000
  • Cap Rate ~ 6.6%
  • GRM ~ 11.4

Details

  • Five story mixed-use building consisting of 12 residential units and 2 commercial units.
  • Building is gut renovated with new electrical and a new roof.
  • All apartments are 3 bedroom with 1 bathroom.
  • Nine apartments are on a city program with 7 years remaining on a 10-year lease. One apartment is rent stabilized.
  • The Deli has 7 year remaining.
  • The Beauty Supply Store has 3 years remaining with a 5-year option to renew. The Beauty Supply Store has separate gas, water & electric meters.
  • Building has a 24-hour door man.
  • 80-85% of expenses are paid by program.
  • Price ~ $3,700,000
  • Cap Rate ~ 6.6%
  • GRM ~ 11.4

Additional Information

Asset Type

Mixed-Use

City

Bronx

Neighborhood

Melrose

Broker

Isaac Matayev

Price

$ 3,700,000

Map

 

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    Bayside, NY 11361

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