1942-1944-1946 McGraw Avenue - Availability Details

For SaleContact for pricing

1944 McGraw Avenue, The Bronx, NY 10462

  • Multi-Family

Nearby Listings

Details

  • Sale Price Contact for pricing
  • City The Bronx
  • Neighborhood Parkchester
  • Zip Code 10462
  • Market Manhattan
  • Property Type Multi-Family
  • Property Size 14,400 Sqft
  • Lot Size 0.45 Acre
  • Property Tenancy Multi-Tenant
  • Building Class A
  • Year Built 2008
  • Year Renovated 2019
  • Date Updated 18 Dec, 2019
  • Construction Type Brick

Description

**8% Cap Rate with upside potential for 12% return. Buyer is eager to sell!

This portfolio contains 3 adjacent buildings with a spacious backyard. Each building has 3 huge above-ground apartments as well as a large basement with a separate entrance to the street. Construction is relatively new from 2008, having also just been gut-renovated in Mid December with top-of-the-line granite kitchen counters/cabinets as well as high-end appliances and tile backsplash. This lot is zoned as R6, granting an additional 6000+ buildable SF. 

Each of the three addresses has a large storage facility in the lower level. These spaces are nicely finished with tiles and are currently vacant. Comparable basement facilities within a few blocks are getting $1350/month per room, and we have three rooms. This can bump NOI by ~$48,600/year.

Located within a couple hundred feet from subway line 6, as well as main bus lines providing excellent transportation options. There are major shopping areas, restaurants and entertainment venues all within a few blocks.

There are several new multifamily developments currently in construction within a few blocks.

Rent Roll and T12 Pro Forma are all available upon request.

Contact

Yit J.

(914) 709-5243

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