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FREE MARKET ! VERY LOW TAXES!! 864 E 221st St 14 Unit Apartment Building $5,191,875 CAD ($370,848 CAD/Unit) 10.04% Cap Rate Bronx, NY 10467
INVESTMENT HIGHLIGHTS
- 12 of 14 Free market units
- Legal basement that is fully above grade
- Extreamly low tax bill
- Fully Brick
EXECUTIVE SUMMARY
Welcome to 864 East 221st Street, a exceptional investment opportunity located in the heart of the Williamsburg section of the Bronx. We are pleased to present this impressive 15,750 square foot, 4-story building comprising 14 residential units, boasting a robust cap rate exceeding 10% CAP.
This outstanding property features a mix of predominantly three-bedroom layouts, offering ample living space for tenants. The building benefits from extremely low taxes, further enhancing its investment appeal. Situated on a quiet block, the property provides a tranquil environment for residents.
Projections indicate significant potential for cap rate growth, driven by the fact that most units are free market and currently rented to programs. This presents a compelling opportunity for savvy investors to capitalize on increasing cash flows and long-term appreciation.
Key Highlights:
* 15,750 square foot, 4-story building
* 14 residential units (12 Free Market)
* Cap rate exceeding 8.25%
* Predominantly three-bedroom layouts
* Extremely low taxes
* Quiet block location
* Projections for cap rate growth on lese renewals
Don't miss this rare opportunity to acquire a high-performing asset in a thriving neighborhood. Contact us today to schedule a viewing and make this exceptional property yours
This outstanding property features a mix of predominantly three-bedroom layouts, offering ample living space for tenants. The building benefits from extremely low taxes, further enhancing its investment appeal. Situated on a quiet block, the property provides a tranquil environment for residents.
Projections indicate significant potential for cap rate growth, driven by the fact that most units are free market and currently rented to programs. This presents a compelling opportunity for savvy investors to capitalize on increasing cash flows and long-term appreciation.
Key Highlights:
* 15,750 square foot, 4-story building
* 14 residential units (12 Free Market)
* Cap rate exceeding 8.25%
* Predominantly three-bedroom layouts
* Extremely low taxes
* Quiet block location
* Projections for cap rate growth on lese renewals
Don't miss this rare opportunity to acquire a high-performing asset in a thriving neighborhood. Contact us today to schedule a viewing and make this exceptional property yours
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$686,496
|
$43.59
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$686,496
|
$43.59
|
| Taxes |
$49,967
|
$3.17
|
| Operating Expenses |
$114,909
|
$7.30
|
| Total Expenses |
$164,876
|
$10.47
|
| Net Operating Income |
$521,620
|
$33.12
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $686,496 |
| Annual Per SF | $43.59 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $686,496 |
| Annual Per SF | $43.59 |
| Taxes (CAD) | |
|---|---|
| Annual | $49,967 |
| Annual Per SF | $3.17 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $114,909 |
| Annual Per SF | $7.30 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $164,876 |
| Annual Per SF | $10.47 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $521,620 |
| Annual Per SF | $33.12 |
PROPERTY FACTS
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | $3,167 CAD | 700 |
| 3+1 | 11 | $3,735 CAD | 850 - 950 |
| 4+1 | 1 | $5,178 CAD | 850 - 950 |
1 1
Walk Score®
Very Walkable (82)
Transit Score®
Rider's Paradise (90)
Bike Score®
Very Bikeable (79)
PROPERTY TAXES
| Parcel Number | 04679-0073 | Total Assessment | $406,838 CAD (2025) |
| Land Assessment | $81,799 CAD (2025) | Annual Taxes | $49,967 CAD ($3.17 CAD/SF) |
| Improvements Assessment | $325,039 CAD (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
04679-0073
Land Assessment
$81,799 CAD (2025)
Improvements Assessment
$325,039 CAD (2025)
Total Assessment
$406,838 CAD (2025)
Annual Taxes
$49,967 CAD ($3.17 CAD/SF)
Tax Year
2024
CONTACTS
-
Avraham Birnbaum -
Yaakov Pliner -
Reuben Lugassy -
Shaya Rosenberg -
Twelve Stones Realty LLC
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FREE MARKET ! VERY LOW TAXES!! | 864 E 221st St
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