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2073 Ryer Ave, Bronx, NY 10457 2073 Ryer Ave 23 Unit Apartment Building $13,959,199 CAD ($606,922 CAD/Unit) 9.68% Cap Rate Bronx, NY 10457
INVESTMENT HIGHLIGHTS
- Benefits from 100% HPS due to having a 421-A Tax Abatement
EXECUTIVE SUMMARY
Brand New 23-Unit Multifamily Building | 421-A Tax Abatement | 130% AMI Rents
Presenting a newly constructed 23-unit residential building, featuring a modern unit mix of 16 studio apartments and 7 spacious one-bedroom units.
This property benefits from the 421-A Tax Exemption, significantly reducing operating expenses and enhancing long-term investment potential.
All 23 units are currently rented at 130% of Area Median Income (AMI), with studio units generating $3,530/month and one-bedroom units at $3,790/month.
The property produces a total annual gross income of $996,120, offering a stable and predictable cash flow supported by HPS (Housing Preservation and Stability) incentives.
An exceptional opportunity to acquire a turnkey asset in a high-demand rental market with strong upside and tax advantages.
Presenting a newly constructed 23-unit residential building, featuring a modern unit mix of 16 studio apartments and 7 spacious one-bedroom units.
This property benefits from the 421-A Tax Exemption, significantly reducing operating expenses and enhancing long-term investment potential.
All 23 units are currently rented at 130% of Area Median Income (AMI), with studio units generating $3,530/month and one-bedroom units at $3,790/month.
The property produces a total annual gross income of $996,120, offering a stable and predictable cash flow supported by HPS (Housing Preservation and Stability) incentives.
An exceptional opportunity to acquire a turnkey asset in a high-demand rental market with strong upside and tax advantages.
DATA ROOM Click Here to Access
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$1,390,504
|
$83.79
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$1,390,504
|
$83.79
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$38,790
|
$2.34
|
| Net Operating Income |
$1,351,714
|
$81.45
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $1,390,504 |
| Annual Per SF | $83.79 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $1,390,504 |
| Annual Per SF | $83.79 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $38,790 |
| Annual Per SF | $2.34 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $1,351,714 |
| Annual Per SF | $81.45 |
PROPERTY FACTS
| Price | $13,959,199 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $606,922 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 9.68% | Building Size | 16,595 SF |
| No. Units | 23 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 8 |
| Property Subtype | Apartment | Year Built | 2023 |
| Zoning | R8 | ||
| Price | $13,959,199 CAD |
| Price Per Unit | $606,922 CAD |
| Sale Type | Investment |
| Cap Rate | 9.68% |
| No. Units | 23 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.06 AC |
| Building Size | 16,595 SF |
| Average Occupancy | 100% |
| No. Stories | 8 |
| Year Built | 2023 |
| Zoning | R8 |
1 1
Walk Score®
Walker's Paradise (92)
Transit Score®
Rider's Paradise (100)
PROPERTY TAXES
| Parcel Number | 03156-0059 | Improvements Assessment | $269,886 CAD (2025) |
| Land Assessment | $53,290 CAD (2025) | Total Assessment | $323,176 CAD (2025) |
PROPERTY TAXES
Parcel Number
03156-0059
Land Assessment
$53,290 CAD (2025)
Improvements Assessment
$269,886 CAD (2025)
Total Assessment
$323,176 CAD (2025)
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2073 Ryer Ave, Bronx, NY 10457 | 2073 Ryer Ave
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