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1193 Fulton Ave
Bronx, NY 10456
Immeuble residentiel Propriété À vendre
·
25 Unités
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FAITS SAILLANTS DE L'INVESTISSEMENT
- GP interest in stabilized affordable housing asset
- Assumable financing at 4.03% with 2051 maturity
- Located near Crotona Park and major bus lines
- 420C tax exemption in place through 2077
- 8.40% Year 1 cash-on-cash return
- HPD agreement with AMI-based rent restrictions
RÉSUMÉ DE L'ANNONCE
Offered for sale is the General Partner (GP) interest in a newly constructed 25-unit affordable housing multifamily property located at 1193 Fulton Avenue in the Morrisania section of the Bronx. Built in 2020, this five-story building spans 24,542 square feet and features a well-balanced unit mix of 11 studios, seven one-bedrooms, and seven two-bedrooms. The asset benefits from a 420C tax exemption through 2077, resulting in zero real estate taxes for the foreseeable future.
The property operates under an HPD regulatory agreement with income and rent restrictions across 50%, 60%, and 100% AMI bands, ensuring long-term affordability and compliance. It is supported by approximately $2.6 million in assumable financing at a favorable 4.03% interest rate, with a maturity date extending to 2051. The offering presents a compelling investment profile with an 8.40% Year 1 cash-on-cash return and a projected 13.04% IRR over a 10-year horizon.
Strategically located three blocks south of Crotona Park, the property enjoys proximity to local retailers, schools, and green spaces. Transit access is excellent, with the Bx15 and Bx35 bus lines within one block, and a Walk Score of 95 and Transit Score of 88 confirming its connectivity and pedestrian-friendly environment.
This GP interest sale offers investors a rare opportunity to participate in a stabilized, income-generating affordable housing asset with long-term regulatory protections and strong financial performance.
The property operates under an HPD regulatory agreement with income and rent restrictions across 50%, 60%, and 100% AMI bands, ensuring long-term affordability and compliance. It is supported by approximately $2.6 million in assumable financing at a favorable 4.03% interest rate, with a maturity date extending to 2051. The offering presents a compelling investment profile with an 8.40% Year 1 cash-on-cash return and a projected 13.04% IRR over a 10-year horizon.
Strategically located three blocks south of Crotona Park, the property enjoys proximity to local retailers, schools, and green spaces. Transit access is excellent, with the Bx15 and Bx35 bus lines within one block, and a Walk Score of 95 and Transit Score of 88 confirming its connectivity and pedestrian-friendly environment.
This GP interest sale offers investors a rare opportunity to participate in a stabilized, income-generating affordable housing asset with long-term regulatory protections and strong financial performance.
FAITS SUR LA PROPRIÉTÉ
| Prix par unité | 33 502 $ CAD | Classe d’immeuble | B |
| Type de vente | Investissement | Taille du lot | 0,19 AC |
| Taux de capitalisation | 7,31% | Taille du bâtiment | 21 000 pi² |
| Nombre d’unités | 25 | Nombre d’étages | 5 |
| Type de propriété | Immeuble residentiel | Année de construction | 2020 |
| Sous-type de propriété | Appartement | Ratio de stationnement | 0,24/1 000 pi² |
| Style d’appartement | De hauteur moyenne | Zone de développement économique |
Oui
|
| Zonage | R6 | ||
| Prix par unité | 33 502 $ CAD |
| Type de vente | Investissement |
| Taux de capitalisation | 7,31% |
| Nombre d’unités | 25 |
| Type de propriété | Immeuble residentiel |
| Sous-type de propriété | Appartement |
| Style d’appartement | De hauteur moyenne |
| Classe d’immeuble | B |
| Taille du lot | 0,19 AC |
| Taille du bâtiment | 21 000 pi² |
| Nombre d’étages | 5 |
| Année de construction | 2020 |
| Ratio de stationnement | 0,24/1 000 pi² |
| Zone de développement économique |
Oui |
| Zonage | R6 |
UNITÉ RENSEIGNEMENTS SUR LE MÉLANGE
| DESCRIPTION | NOMBRE D’UNITÉS | LOYER MOYEN/MOIS | pi² |
|---|---|---|---|
| Studios | 25 | - | - |
Impôts fonciers
| Numéro de lot | 02609-0041 | Évaluation des bâtiments | 1 443 772 $ CAD |
| Évaluation du terrain | 376 647 $ CAD | Évaluation totale | 1 820 419 $ CAD |
Impôts fonciers
Numéro de lot
02609-0041
Évaluation du terrain
376 647 $ CAD
Évaluation des bâtiments
1 443 772 $ CAD
Évaluation totale
1 820 419 $ CAD
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