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3641 Johnson Ave- Riverdale 26 Unit Apartment Building $17,990,617 CAD ($691,947 CAD/Unit) 6.79% Cap Rate Bronx, NY 10463
INVESTMENT HIGHLIGHTS
- Calling All Investors, Developers & End-Users!!! BRAND NEW 34,400+ Sqft. 26 Unit Apartment Building In Riverdale For Sale!!!
- The Property Is Located In The Heart Of Riverdale Just Off The Henry Hudson Pkwy. Only Minutes From Manhattan University & Van Cortlandt Park!!!
- The Building Was Built In 2019 & Has A 421a!!!
- The Building Features Excellent Signage, Great Exposure, 6 Parking Spaces, High 8’ Ceilings, Strong R7A Zoning, Virtual Doorman, Security System,+++!!
- Neighbors Include Starbucks, Chase Bank, Wells Fargo Bank, Target, Stop & Shop, CubeSmart Self Storage, Wendy’s, Subway, Bob’s Discount Furniture,+++!
- This Property Offers HUGE Upside Potential!!!
EXECUTIVE SUMMARY
Calling All Investors, Developers & End-Users!!! BRAND NEW 34,400+ Sqft. 26 Unit Apartment Building In Riverdale For Sale!!! The Building Features Excellent Signage, Great Exposure, 6 Parking Spaces, High 8’ Ceilings, Strong R7A Zoning, Virtual Doorman, Security System, 2 Bicycle Rooms, Laundry Room, Elevator, Private Gated Driveway, Multi-level Terrace Area, Large Yard, Ramp, Garbage Chute, Sprinklers, All New LED Lighting, 3 Phase Power, CAC, +++!!! The Building Can Be Accessed By Key, Key Fob, Or Face ID!!! The Property Is Located In The Heart Of Riverdale Just Off The Henry Hudson Parkway Only Minutes From Riverdale Park, Manhattan University & Van Cortlandt Park!!! Neighbors Include Starbucks, Chase Bank, Wells Fargo Bank, Target, Stop & Shop, CubeSmart Self Storage, Wendy’s, Subway, Bob’s Discount Furniture, Liberty Tax, +++!!! The Building Was Built In 2019 & Has A 421a!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!!
Income:
Unit B-A (1 Br. Apt., 736 Sqft.): $38,400 Ann.
Unit B-B (1 Br. Apt., 839 Sqft.): $40,800 Ann. (Available)
Unit 1-A (1 Br. Apt., 784 Sqft.): $28,500 Ann.
Unit 1-B (Studio Apt., 689 Sqft.): $32,400 Ann.
Unit 1-C (1 Br. Apt., 792 Sqft.): $37,200 Ann.
Unit 2-A (2 Br. Apt., 1,062 Sqft.): $42,000 Ann.
Unit 2-B (1 Br. Apt., 971 Sqft.): $39,600 Ann.
Unit 2-C (2 Br. Apt., 983 Sqft.): $31,800 Ann.
Unit 3-A (2 Br. Apt., 1,042 Sqft.): $43,200 Ann.
Unit 3-B (1 Br. Apt., 943 Sqft.): $28,500 Ann.
Unit 3-C (2 Br. Apt., 987 Sqft.): $43,200 Ann.
Unit 4-A (2 Br. Apt., 1,042 Sqft.): $48,000 Ann.
Unit 4-B (1 Br. Apt., 943 Sqft.): $28,500 Ann.
Unit 4-C (2 Br. Apt., 987 Sqft.): $44,400 Ann.
Unit 5-A (2 Br. Apt., 1,042 Sqft.): $45,600 Ann.
Unit 5-B (1 Br. Apt., 943 Sqft.): $39,600 Ann.
Unit 5-C (2 Br. Apt., 987 Sqft.): $31,800 Ann.
Unit 6-A (2 Br. Apt., 1,042 Sqft.): $45,600 Ann.
Unit 6-B (1 Br. Apt., 943 Sqft.): $28,500 Ann.
Unit 6-C (2 Br. Apt., 987 Sqft.): $44,400 Ann.
Unit 7-A (2 Br. Apt., 871 Sqft.): $31,800 Ann.
Unit 7-B (1 Br. Apt., 909 Sqft.): $40,800 Ann.
Unit 7-C (2 Br. Apt., 987 Sqft.): $45,600 Ann.
Unit 8-A (2 Br. Apt., 836 Sqft.): $31,800 Ann.
Unit 8-B (1 Br. Apt., 909 Sqft.): $39,600 Ann.
Unit 8-C (2 Br. Apt., 987 Sqft.): $45,600 Ann.
Pro Forma Gross Income: $997,200 Ann.
Expenses:
Gas: $12,000 Ann.
Electric: $24,000 Ann.
Maintenance & Repairs: $3,800 Ann.
Insurance: $8,300 Ann.
Waer & Sewer: $24,000 Ann.
Taxes: $50,000 Ann. (Protected Until 2058!!!)
Total Expenses: $122,100 Ann.
Net Operating Income (NOI): $875,100 Ann. (Pro Forma 6.79 Cap!!!)
Income:
Unit B-A (1 Br. Apt., 736 Sqft.): $38,400 Ann.
Unit B-B (1 Br. Apt., 839 Sqft.): $40,800 Ann. (Available)
Unit 1-A (1 Br. Apt., 784 Sqft.): $28,500 Ann.
Unit 1-B (Studio Apt., 689 Sqft.): $32,400 Ann.
Unit 1-C (1 Br. Apt., 792 Sqft.): $37,200 Ann.
Unit 2-A (2 Br. Apt., 1,062 Sqft.): $42,000 Ann.
Unit 2-B (1 Br. Apt., 971 Sqft.): $39,600 Ann.
Unit 2-C (2 Br. Apt., 983 Sqft.): $31,800 Ann.
Unit 3-A (2 Br. Apt., 1,042 Sqft.): $43,200 Ann.
Unit 3-B (1 Br. Apt., 943 Sqft.): $28,500 Ann.
Unit 3-C (2 Br. Apt., 987 Sqft.): $43,200 Ann.
Unit 4-A (2 Br. Apt., 1,042 Sqft.): $48,000 Ann.
Unit 4-B (1 Br. Apt., 943 Sqft.): $28,500 Ann.
Unit 4-C (2 Br. Apt., 987 Sqft.): $44,400 Ann.
Unit 5-A (2 Br. Apt., 1,042 Sqft.): $45,600 Ann.
Unit 5-B (1 Br. Apt., 943 Sqft.): $39,600 Ann.
Unit 5-C (2 Br. Apt., 987 Sqft.): $31,800 Ann.
Unit 6-A (2 Br. Apt., 1,042 Sqft.): $45,600 Ann.
Unit 6-B (1 Br. Apt., 943 Sqft.): $28,500 Ann.
Unit 6-C (2 Br. Apt., 987 Sqft.): $44,400 Ann.
Unit 7-A (2 Br. Apt., 871 Sqft.): $31,800 Ann.
Unit 7-B (1 Br. Apt., 909 Sqft.): $40,800 Ann.
Unit 7-C (2 Br. Apt., 987 Sqft.): $45,600 Ann.
Unit 8-A (2 Br. Apt., 836 Sqft.): $31,800 Ann.
Unit 8-B (1 Br. Apt., 909 Sqft.): $39,600 Ann.
Unit 8-C (2 Br. Apt., 987 Sqft.): $45,600 Ann.
Pro Forma Gross Income: $997,200 Ann.
Expenses:
Gas: $12,000 Ann.
Electric: $24,000 Ann.
Maintenance & Repairs: $3,800 Ann.
Insurance: $8,300 Ann.
Waer & Sewer: $24,000 Ann.
Taxes: $50,000 Ann. (Protected Until 2058!!!)
Total Expenses: $122,100 Ann.
Net Operating Income (NOI): $875,100 Ann. (Pro Forma 6.79 Cap!!!)
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$1,392,011
|
$49.54
|
| Taxes |
$69,796
|
$2.48
|
| Operating Expenses |
$100,646
|
$3.58
|
| Total Expenses |
$170,442
|
$6.07
|
| Net Operating Income |
$1,221,570
|
$43.47
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $1,392,011 |
| Annual Per SF | $49.54 |
| Taxes (CAD) | |
|---|---|
| Annual | $69,796 |
| Annual Per SF | $2.48 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $100,646 |
| Annual Per SF | $3.58 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $170,442 |
| Annual Per SF | $6.07 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $1,221,570 |
| Annual Per SF | $43.47 |
PROPERTY FACTS
| Price | $17,990,617 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $691,947 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 6.79% | Building Size | 28,101 SF |
| No. Units | 26 | No. Stories | 8 |
| Property Type | Multifamily | Year Built/Renovated | 2019/2024 |
| Property Subtype | Apartment | Parking Ratio | 0.21/1,000 SF |
| Zoning | R7A - a medium-density residential district where the Quality Housing Program Zoning Regulations are mandatory | ||
| Price | $17,990,617 CAD |
| Price Per Unit | $691,947 CAD |
| Sale Type | Investment |
| Cap Rate | 6.79% |
| No. Units | 26 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.16 AC |
| Building Size | 28,101 SF |
| No. Stories | 8 |
| Year Built/Renovated | 2019/2024 |
| Parking Ratio | 0.21/1,000 SF |
| Zoning | R7A - a medium-density residential district where the Quality Housing Program Zoning Regulations are mandatory |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Kitchen
- Refrigerator
- Sprinkler System
- Views
- Freezer
- Large Bedrooms
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Fenced Lot
- Laundry Facilities
- Security System
- Video Patrol
- Doorman
- Wheelchair Accessible
- Package Service
- Storage Space
- Bicycle Storage
- Elevator
- Public Transportation
- Private Bathroom
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 1+1 | 11 | - | - |
Walk Score®
Walker's Paradise (95)
Transit Score®
Excellent Transit (83)
PROPERTY TAXES
| Parcel Number | 05799-0059 | Total Assessment | $5,604,326 CAD |
| Land Assessment | $280,279 CAD | Annual Taxes | $69,796 CAD ($2.48 CAD/SF) |
| Improvements Assessment | $5,324,047 CAD | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
05799-0059
Land Assessment
$280,279 CAD
Improvements Assessment
$5,324,047 CAD
Total Assessment
$5,604,326 CAD
Annual Taxes
$69,796 CAD ($2.48 CAD/SF)
Tax Year
2025
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3641 Johnson Ave- Riverdale
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