931-939 Summit Ave - Apartments FOR SALE


Bronx, NY 10452- Highbridge
$5,900,000 USD
917-523-1274
931-939 Summit Ave, Bronx, NY for Sale
$5,900,000 USD
Apartments - FOR SALE
1/4
null | 8.87% Cap Rate

931-939 Summit Ave
Bronx, NY 10452
Highbridge


OVERVIEW

Kassin Sabbagh Realty (KSR) is managing the sale of 931-937 Summit Avenue, a prime real-estate opportunity in the High Bridge section of the Bronx. Built in 2015, this multifamily property consists of32 units. The building spans a total of 21,200SF,with an equal lot size of 21,200 SF. The unit mix includes one studio, five 1-bedroom apartments, and two 2-bedroom units. The property is ideally situated within walking distance to Yankee Stadium, Macombs DamPark, and Lincoln Medical Center. Nearby public transportation includes the 4 Trainat161stStreet/Yankee Stadium and the B, D,A, and C Trains at155th Street, providing easy access to the rest of the city. KeyFeatures: • 421ATaxAbatement: • Currently in its 9th year. • After the 10thyear, taxes phase in at 20% per year over 5 years. • Starting in the 16thyear, full property taxeswill be paid. • Once the 421Atax abatement expires, the property will become fully free-market, allowing you to capture market rents and significantly increase the net operating income (NOI).

FOR SALE DETAILS

PRICE

$5,900,000 USD

PRICE/SF

$275 USD /SF

# OF UNITS

32

PRICE/UNIT

$184,375

CAP RATE

8.87%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2014

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,034 SF

ZONING

R7

APN/PARCEL ID

02523-0066,02523-0067,02523-0068,02523-0069

ASK ABOUT THIS PROPERTY

Samia FarahKassin Sabbagh RealtyMore Info
917-523-1274

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Samia FarahKassin Sabbagh RealtyMore Info
917-523-1274

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