261 Alexander Ave - Apartments FOR SALE


Bronx, NY 10454- Mott Haven
$1,800,000 USD
212-430-6134
261 Alexander Ave, Bronx, NY for Sale
$1,800,000 USD
Apartments - FOR SALE
1/13
null | 9% Cap Rate

261 Alexander Ave
Bronx, NY 10454
Mott Haven


HIGHLIGHTS

  • 261 Alexander Avenue comprises 1 two-bedroom apartment and 9 three-bedroom apartments. The property is a 5-story building and is not subject to LL11.
  • Asking 9.0% Cap Rate or 7.2x GRM.
  • Under Section-8 rental guidelines, a Pro-Forma cap Rate equates to approximately 14.5%
  • 261 Alexander Avenue is a tax class 2B asset, with tax liability capped at 8% per year or 30% over 5 years.

OVERVIEW

New York Multifamily is pleased to offer an exceptional investment opportunity in the vibrant neighborhood of Mott Haven. 261 Alexander Avenue consists of 10 fully free-market apartments with little to no deferred maintenance. Nestled between East 138th and 139th Street, this building has been owned and managed by the same family for over 20 years. Furthermore, 261 Alexander offers investors a unique opportunity to capitalize on immediate upside potential by transitioning to section-8 rental income. This tax-class protected walk-up is conveniently located near Willis Playground and the 138th Street Subway station.

FOR SALE DETAILS

PRICE

$1,800,000 USD

PRICE/SF

$198 USD /SF

# OF UNITS

10

PRICE/UNIT

$180,000

CAP RATE

9%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

1905

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,614 SF

ZONING

R6, Brooklyn

APN/PARCEL ID

02314-0029

ASK ABOUT THIS PROPERTY

Seth GlasserMarcus & MillichapMore Info
212-430-6134

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Seth GlasserMarcus & MillichapMore Info
212-430-6134

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