1684 Banyer Pl - Apartments FOR SALE


Bronx, NY 10473- Soundview
$3,000,000 USD
718-360-2993
1684 Banyer Pl, Bronx, NY for Sale
$3,000,000 USD
Apartments - FOR SALE
1/14
null | 7.5% Cap Rate

1684 Banyer Pl
Bronx, NY 10473
Soundview


HIGHLIGHTS

  • 3 Building Package with In Place Cash Flow/Value Add Potential
  • The 3 properties each contain 6 rent stabilized apartments, comprising a total of 18 apartments
  • A 15 yr 421a that expires on June 30, 2026, upon which the apts become destabilized with vacancy & rents can be increased with the next tenant
  • Each building is built 25 ft x 51 ft across three floors, totaling 3,825 square feet and has a cellar
  • Conveniently located near public transportation (6 train subway and buses), retail corridors, and neighborhood amenities

OVERVIEW

Investment Property Realty Group (IPRG) has been exclusively retained to sell a three building assemblage at 1684 A, B, C Banyer Place (Lots 22, 122, 23). The subject properties are located in the Soundview neighborhood of the Bronx. The three properties, built in 2009, each contain 6 rent stabilized apartments, comprising a total of 18 apartments and rear yard parking accessible via Croes Avenue. There is a 15 year 421a that expires on June 30, 2026, upon which the apartments become destabilized with vacancy and rents can be increased with the next tenant. Each building is built 25 ft x 51 ft across three floors, totaling 3,825 square feet and has a cellar. The unit count is 5 one bedrooms and 1 studio per building. Each of these apartments contain their own gas fueled heat and hot water boilers, and the common hallways contain a fire sprinkler system. The portfolio represents a well-maintained multifamily package offering investors stable in-place cash flow with the ability to significantly increase under market rents. The properties are conveniently located near public transportation (6 train subway and buses), retail corridors, and neighborhood amenities, with close proximity to major thoroughfares providing efficient access throughout the Bronx and greater New York City.

FOR SALE DETAILS

PRICE

$3,000,000 USD

PRICE/SF

$293 USD /SF

# OF UNITS

18

PRICE/UNIT

$166,667

CAP RATE

7.5%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2009

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

2,049 SF

ZONING

-

APN/PARCEL ID

03660-0023

ASK ABOUT THIS PROPERTY

Steve ReynoldsInvestment Property Realty GroupMore Info
718-360-2993

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Steve ReynoldsInvestment Property Realty GroupMore Info
718-360-2993

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.