3451 East Tremont Avenue, Bronx, NY, 10465

Morris Park, Bronx, New York 10465

$1,500,000   $1,350,000  

Email Print

Listing ID Number

20413

Property Description

Located on the Southeast corner of East Tremont and Otis Avenues, the subject property is a mixed-use building with six (6) commercial units and two (2) residential apartments. Both residential units are two-bedrooms and have a separate entrance on Otis Avenue. There are also three (3) parking spaces in the rear of the lot which produce revenue. There is currently one (1) vacant office unit and one (1) vacant parking space. All tenants are individually metered for gas and electric service and there are no open violations. The location of this property benefits from multiple means of transportation including the Bruckner, Throgs Neck and Cross Bronx Expressways, as well as several bus lines. The nearest subway is the #6 Westchester Sq. / East Tremont Station which provides service throughout the South & East Bronx and into Manhattan. The subject property provides an investor with an ideal opportunity to own a corner building in a premium Bronx neighborhood. Please call for further details.

Overview

Building Type:Mixed-Use Investment Buildings
Residential Units:2
Commercial Units:9
Zoning:C1-2 / R3A
FAR:0.9
Taxes:$20,854

Expenses

Total Annual Expenses:$38,273

Investment Information

Gross Monthly Income:$12,491
Gross Annual Income:$149,900
Less Total Expenses:$38,273
Net Operating Income:$110,827

Summary

Capitalization Rate:8.20%

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

Nicholas Burns
Director of Sales
(212) 696-2500 x 7756
nburns@masseyknakal.com

Andrew Essick
Associate Director of Sales
(212) 696-2500 x 7794
aessick@masseyknakal.com


Property Images

Click the image for a high resolution version.

<     /     >

Property Map


Aerial View


The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.