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253 E 206th St 10 Unit Apartment Building $3,568,448 CAD ($356,845 CAD/Unit) 5.30% Cap Rate Bronx, NY 10467
Investment Highlights
- 253 East 206th Street is a 100% free market asset, builtwithout any tax abatement.
- 253 East 206th Street is a tax class 2B asset, with taxliability capped at 8% per year or 30% over 5 years
- The average rent is $1,944 per apartment per month
- This 10 unit walk-up is composed of 3 studios, 5 one-bedrooms, and 2 two-bedrooms. There are currently 2 vacant units
- Current rents are 30% below market, presenting anopportunity for significant upside through turnover orSection 8 / City Program Vouchers.
- This building is just steps from Montefiore Hospital, BronxPark, Fordham University, The New York BotanicalGarden, and the Norwood Subway Station.
Executive Summary
253 East 206th Street is a 100% free market asset, built without any tax abatement. The building was issued its final certificate of occupancy in 2019. This 10-unit walk-up is composed of 3 studios, 5 one-bedrooms, and 2 two-bedrooms. There are currently 2 vacant units. Current rents are 30% below market, presenting an opportunity for significant upside through turnover or Section 8 / City Program Vouchers. The average rent is $1,944 per apartment per month.
This building is just steps from Montefiore Hospital, Bronx Park, Fordham University, The New York Botanical Garden, and the Norwood Subway Station. 253 East 206th Street is a tax class 2B asset, with tax liability capped at 8% per year or 30% over 5 years.
This building is just steps from Montefiore Hospital, Bronx Park, Fordham University, The New York Botanical Garden, and the Norwood Subway Station. 253 East 206th Street is a tax class 2B asset, with tax liability capped at 8% per year or 30% over 5 years.
Property Facts
| Price | $3,568,448 CAD | Property Subtype | Apartment |
| Price Per Unit | $356,845 CAD | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.30% | Lot Size | 0.07 AC |
| Gross Rent Multiplier | 11.1 | Building Size | 6,692 SF |
| No. Units | 10 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 2017 |
| Zoning | R7B - Medium-Density Apartment House District with Lower Parking Requirements. | ||
| Price | $3,568,448 CAD |
| Price Per Unit | $356,845 CAD |
| Sale Type | Investment |
| Cap Rate | 5.30% |
| Gross Rent Multiplier | 11.1 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 6,692 SF |
| No. Stories | 4 |
| Year Built | 2017 |
| Zoning | R7B - Medium-Density Apartment House District with Lower Parking Requirements. |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | - | - |
1 1
Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 03335-0134 | Improvements Assessment | $372,981 CAD |
| Land Assessment | $68,930 CAD | Total Assessment | $441,911 CAD |
Property Taxes
Parcel Number
03335-0134
Land Assessment
$68,930 CAD
Improvements Assessment
$372,981 CAD
Total Assessment
$441,911 CAD
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253 E 206th St
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