1265 Elder AVE, Bronx, NY 10472
1265 Elder AVE, Bronx, NY 10472
1265 Elder AVE, Bronx, NY 10472
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Randy Reis

Randy Reis

+1(917) 435-4870
$2,800,000
Est. payment /mo
2,500 Sqft Lot
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UPDATED:

Key Details

Property Type Other Types

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Subdivision Soundview

MLS Listing ID 1037411

Rental Info No

Year Built 1935

Annual Tax Amount $6,993

Lot Size 2,500 Sqft

Acres 0.0574

Property Sub-Type Multi Family

Source onekey2

Property Description

Fully renovated legal 8-unit free-market investment property! This turnkey, fully occupied property is situated in the Soundview/Parkchester area of the Bronx and offers strong existing income with exceptionally low owner expenses. The building consists of 7 studio apartments and 1 one-bedroom apartment, all free-market units. The entire property has been fully renovated with new finishes and systems throughout. The building is all electric, with tenants responsible for their own utilities. Each apartment features central heating and air conditioning through mini-split systems and its own dedicated hot water heater. Building features include 8 water heaters, 9 electric meters, parking can be utilized in the rear of the building with a shared driveway, and potential for additional parking income. Current rental income consists of 7 studios at $2,440 per month each and 1 one-bedroom apartment at $2,484 per month, generating total monthly income of $19,564 and annual gross income of $234,768. Annual operating expenses are approximately $18,500, including $7,000 in property taxes, $8,000 in insurance, $2,000 in water, and $1,500 in common electric. Current Net Operating Income is approximately $216,268 annually, representing an approximate 7.72% cap rate at the $2,800,000 asking price before any additional parking income. With tenants responsible for their own electric, heating, air conditioning, and hot water costs, owner expenses remain exceptionally low. A rare opportunity to acquire a fully renovated, fully occupied, income-producing multifamily property in the Bronx.

Location

State NY

County Bronx County

Rooms

Basement Finished, See Remarks

Interior

Heating Electric

Cooling Central Air, Ductless, Electric

Flooring Hardwood

Fireplace No

Appliance Electric Range, Electric Water Heater, Refrigerator

Exterior

Parking Features Other

Utilities Available Electricity Connected, Sewer Connected, Trash Collection Public, Water Connected

Building

Sewer Public Sewer

Water Public

Structure Type Brick

Schools

High Schools Bronx 12

School District Bronx 12

Others

Special Listing Condition None

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OneKey MLS/ Hudson Gateway (HGAR)/ Long Island MLS (MLSLI)/ Mid Hudson MLS
Listed by Real Broker NY LLC • Shpresa Camaj

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Randy Reis

Randy Reis

+1(917) 435-4870

Team Leader | License ID: 40RE1176716

Team Leader License ID: 40RE1176716

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