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1040 Clay Ave
Bronx, NY 10456
Multifamily Property For Sale
·
6 Units
Investment Highlights
- Occupied Six Family Building For Sale located in the Concourse Village section of the Bronx
- The building spans approximately 3,733 square feet and sits on a 27.17 ft x 80 ft lot within an R7-1 zoning district, offering a total FAR of 3.44
- This equates to $141,667 per unit and $228 per square foot, providing investors with immediate, stable cash flow
- The subject property consists of six residential units configured as five one-bedroom apartments and one two-bedroom apartment
- The property generates $100,538 in current gross annual income with a current net operating income of $53,405, representing a 6.28% cap rate
- Ideally positioned between East 165th and East 166th Streets and benefits from convenient access to the B, D, and 4 subway lines.
Executive Summary
Investment Property Realty Group (IPRG) has been exclusively retained to arrange the sale of 1040 Clay Avenue, an occupied six-family building located in the Concourse Village section of the Bronx.
The subject property consists of six residential units configured as five one-bedroom apartments and one two-bedroom apartment. The building spans approximately 3,733 square feet and sits on a 27.17 ft x 80 ft lot within an R7-1 zoning district, offering a total FAR of 3.44.
The property generates $100,538 in current gross annual income with a current net operating income of $53,405, representing a 6.28% cap rate at the asking price of $850,000. This equates to $141,667 per unit and $228 per square foot, providing investors with immediate, stable cash flow.
1040 Clay Avenue is ideally positioned between East 165th and East 166th Streets and benefits from convenient access to the B, D, and 4 subway lines.
The subject property consists of six residential units configured as five one-bedroom apartments and one two-bedroom apartment. The building spans approximately 3,733 square feet and sits on a 27.17 ft x 80 ft lot within an R7-1 zoning district, offering a total FAR of 3.44.
The property generates $100,538 in current gross annual income with a current net operating income of $53,405, representing a 6.28% cap rate at the asking price of $850,000. This equates to $141,667 per unit and $228 per square foot, providing investors with immediate, stable cash flow.
1040 Clay Avenue is ideally positioned between East 165th and East 166th Streets and benefits from convenient access to the B, D, and 4 subway lines.
Property Facts
| Price Per Unit | $196,955 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.05 AC |
| No. Units | 6 | Building Size | 3,733 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1899 |
| Zoning | R7-1 - R7-1 Zoning. General residence district. | ||
| Price Per Unit | $196,955 CAD |
| Sale Type | Investment |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 3,733 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1899 |
| Zoning | R7-1 - R7-1 Zoning. General residence district. |
Amenities
Unit Amenities
- Cable Ready
- Microwave
- Heating
- Tile Floors
- Eat-in Kitchen
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Yard
- Basement
- Double Pane Windows
- Handrails
Site Amenities
- 24 Hour Access
- Fenced Lot
- Property Manager on Site
- Security System
- Shuttle to Train
- Trash Pickup - Door to Door
- Vintage Building
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | - | 500 |
| 2+1 | 1 | - | 1,200 |
Property Taxes
| Parcel Number | 02425-0002 | Improvements Assessment | $146,473 CAD |
| Land Assessment | $954 CAD | Total Assessment | $147,427 CAD |
Property Taxes
Parcel Number
02425-0002
Land Assessment
$954 CAD
Improvements Assessment
$146,473 CAD
Total Assessment
$147,427 CAD
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