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704-710 E 138th St 19 Unit Apartment Building $6,267,780 CAD ($329,883 CAD/Unit) 9.55% Cap Rate Bronx, NY 10454
Investment Highlights
- 20 residential units + 5 commercial retail spaces offering scale and stability in the South Bronx’s premier submarket.
- Mark-to-market commercial upside across the 5 retail spaces to capture rising neighborhood rents.
- Positioned within an appreciating submarket driven by institutional investment and rising neighborhood density
- Updated mechanical systems, common areas, and units, reducing immediate capital expenditure requirements.
- Near-term residential income growth through the realization of legal regulated rents over current preferential rates.
- Located 0.0 miles from the Brook Ave 6 Train, under 0.7 miles from the 4, 5, and 2 lines, with the Bx33 bus at the front door.
Executive Summary
Alpha Realty presents, 710 East 138th Street, an opportunity to acquire a mixed-use corner asset in the Mott Haven neighborhood of the Bronx. The five-story walk-up property contains 20 residential apartments and 5 commercial units, creating a diversified income stream from both residential and retail tenancy. Located at the corner of Jackson Avenue and East 138th Street, the property benefits from strong visibility and direct access to one of the South Bronx's most active mixed-use corridors.
The asset offers investors a combination of in-place cash flow and future revenue growth potential. Financials provided indicate annual apartment income of $400,969 and commercial income of $192,635, generating effective gross income of $575,796 and a reported net operating income of $424,855. The property is offered at an asking price of $4,450,000. Existing commercial tenancy provides immediate exposure to neighborhood retail demand while the residential component contributes recurring income from a 20-unit apartment base.
The property is positioned in Mott Haven, a neighborhood that has experienced significant public and private investment, attracting new residential, retail, and mixed-use development. Transit accessibility is a notable feature, with the Brook Avenue subway station serving the 6 train located nearby and additional access to the 2, 4, and 5 subway lines within the surrounding area. The property's corner location, mixed-use configuration, and established tenancy profile create an opportunity for investors seeking a Bronx asset with multiple income sources and long-term ownership potential.
The asset offers investors a combination of in-place cash flow and future revenue growth potential. Financials provided indicate annual apartment income of $400,969 and commercial income of $192,635, generating effective gross income of $575,796 and a reported net operating income of $424,855. The property is offered at an asking price of $4,450,000. Existing commercial tenancy provides immediate exposure to neighborhood retail demand while the residential component contributes recurring income from a 20-unit apartment base.
The property is positioned in Mott Haven, a neighborhood that has experienced significant public and private investment, attracting new residential, retail, and mixed-use development. Transit accessibility is a notable feature, with the Brook Avenue subway station serving the 6 train located nearby and additional access to the 2, 4, and 5 subway lines within the surrounding area. The property's corner location, mixed-use configuration, and established tenancy profile create an opportunity for investors seeking a Bronx asset with multiple income sources and long-term ownership potential.
Property Facts
| Price | $6,267,780 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $329,883 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.10 AC |
| Cap Rate | 9.55% | Building Size | 18,640 SF |
| No. Units | 19 | No. Stories | 5 |
| Property Type | Multifamily | Year Built/Renovated | 1910/2003 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R6, Bronx - Medium density residential zoning district. | ||
| Price | $6,267,780 CAD |
| Price Per Unit | $329,883 CAD |
| Sale Type | Investment |
| Cap Rate | 9.55% |
| No. Units | 19 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 18,640 SF |
| No. Stories | 5 |
| Year Built/Renovated | 1910/2003 |
| Opportunity Zone |
Yes |
| Zoning | R6, Bronx - Medium density residential zoning district. |
Amenities
Unit Amenities
- Air Conditioning
- Wheelchair Accessible (Rooms)
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 02566-0018 | Improvements Assessment | $2,080,833 CAD |
| Land Assessment | $31,691 CAD | Total Assessment | $2,112,524 CAD |
Property Taxes
Parcel Number
02566-0018
Land Assessment
$31,691 CAD
Improvements Assessment
$2,080,833 CAD
Total Assessment
$2,112,524 CAD
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704-710 E 138th St
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