3575 Laconia Ave
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3575 Laconia Ave
20 Unit Block of Flats £6,015,476 (£300,774/Unit) 8.89% Net Initial Yield Bronx, NY 10469
Investment Highlights
- Calling All Investors, Developers & End-Users!!! 16,896 Sqft. 20 Unit Apartment Building With Private Gated Parking In The Bronx For Sale!!!
- The Property Is Located In The Heart Of The Bronx Just Minutes From The Bronx River Parkway Off E. Gun Hill Road!!!
- This Property Has It's Own Secure Private Parking Lot!!!!
- The Building Features Excellent Signage, Great Exposure, Low Property Taxes, 13 Parking Spaces In a Private Gated Lot, Bicycle Storage, Basement, +++
- Neighbors Include Toyota, Nissan, YMCA, The Home Depot, L.A. Fitness, Macy’s, Dunkin’, Walgreens, Wendy’s, Aldi, IHOP, KFC, +++!!!
- This Property Offers HUGE Upside Potential!!!
Executive Summary
Calling All Investors, Developers & End-Users!!! 16,896 Sqft. 20 Unit Apartment Building With Private Gated Parking In The Bronx For Sale!!! The Building Features Excellent Signage, Great Exposure, Low Property Taxes, 13 Parking Spaces In a Private Gated Lot, Bicycle Storage, Basement, High 8’ Ceilings, Strong R5D Zoning, All New LED Lighting, Separate Meters, 3 Phase Power, Sprinklers, A/C, +++!!! The Property Is Located In The Heart Of The Bronx Just Minutes From The Bronx River Parkway Off E. Gun Hill Road!!! Neighbors Include Toyota, Nissan, YMCA, The Home Depot, L.A. Fitness, Macy’s, Dunkin’, Walgreens, Wendy’s, Aldi, IHOP, KFC, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or Be The Next Home For Your Business!!!
Income:
Apt. 1A: $27,600 Ann.; Lease Exp.: 7/31/24.
Legal Rent: $37,920 Ann.
Apt. 1B: $27,600 Ann.; Lease Exp.: 9/14/24.
Legal Rent: $37,920 Ann.
Apt. 2A: $28,200 Ann.; Lease Exp.: 7/31/24.
Legal Rent: $37,920 Ann.
Apt. 2B: $27,369.60 Ann.; Lease Exp.: 8/31/24.
Legal Rent: $35,400 Ann.
Apt. 2C: $30,804 Ann.; Lease Exp.: 9/14/24.
Legal Rent: $45,300 Ann.
Apt. 2D: $28,200 Ann.; Lease Exp.: 7/31/24.
Legal Rent: $37,920 Ann.
Apt. 2E: $27,468 Ann.; Lease Exp.: 9/30/24.
Legal Rent: $27,468 Ann.
Apt. 2F: $32,400 Ann.; Lease Exp.: 8/31/24.
Legal Rent: $45,300 Ann.
Apt. 3A: $27,600 Ann.; Lease Exp.: 7/31/24.
Legal Rent: $37,920 Ann.
Apt. 3B: $27,960 Ann.; Lease Exp.: 8/31/24.
Legal Rent: $35,400 Ann.
Apt. 3C: $30,804 Ann.; Lease Exp.: 11/30/25.
Legal Rent: $30,804 Ann.
Apt. 3D: $27,600 Ann.; Lease Exp.: 9/14/24.
Legal Rent: $37,920 Ann.
Apt. 3E: $27,600 Ann.; Lease Exp.: 7/31/24.
Legal Rent: $37,920 Ann.
Apt. 3F: $30,804 Ann. ; Lease Exp.: 9/31/24.
Legal Rent: $30,804 Ann.
Apt. 4A: $27,780 Ann.; Lease Exp.: 7/31/24.
Legal Rent: $37,920 Ann.
Apt. 4B: $26,916 Ann. (Available)
Legal Rent: $26,916 Ann.
Apt. 4C: $30,804 Ann.; Lease Exp.: 1/14/25.
Legal Rent: $30,804 Ann.
Apt. 4D: $38,400 Ann.; Lease Exp.: 1/14/25.
Legal Rent: $48,000 Ann.
Apt. 4E: $27,468 Ann.; Lease Exp.: 9/30/24.
Legal Rent: $27,468 Ann.
Apt. 4F: $31,800 Ann.; Lease Exp.: 8/31/24.
Legal Rent: $45,300 Ann.
Total Gross Rent: $585,177.60 Ann.
Total Legal Rent: $732,324 Ann.
Expenses:
Electric: $6,000 Ann. (Common Area Only)
Heat/Hot Water: $14,000 Ann.
Insurance: $14,500 Ann.
Water/Sewer: $12,000 Ann.
Taxes: $2,651.68 Ann. (Protected For The Next 34 Years)
Total Expenses: $49,151.68 Ann.
Current Gross Income: $558,261.60 Ann.
Pro Forma Gross Income: $732,324 Ann.
Current Net Operating Income (NOI): $536,025.92 Ann. (6.8% Cap)
Pro Forma Net Operating Income (NOI): $683,172.32 Ann. (8.89% Cap)
Income:
Apt. 1A: $27,600 Ann.; Lease Exp.: 7/31/24.
Legal Rent: $37,920 Ann.
Apt. 1B: $27,600 Ann.; Lease Exp.: 9/14/24.
Legal Rent: $37,920 Ann.
Apt. 2A: $28,200 Ann.; Lease Exp.: 7/31/24.
Legal Rent: $37,920 Ann.
Apt. 2B: $27,369.60 Ann.; Lease Exp.: 8/31/24.
Legal Rent: $35,400 Ann.
Apt. 2C: $30,804 Ann.; Lease Exp.: 9/14/24.
Legal Rent: $45,300 Ann.
Apt. 2D: $28,200 Ann.; Lease Exp.: 7/31/24.
Legal Rent: $37,920 Ann.
Apt. 2E: $27,468 Ann.; Lease Exp.: 9/30/24.
Legal Rent: $27,468 Ann.
Apt. 2F: $32,400 Ann.; Lease Exp.: 8/31/24.
Legal Rent: $45,300 Ann.
Apt. 3A: $27,600 Ann.; Lease Exp.: 7/31/24.
Legal Rent: $37,920 Ann.
Apt. 3B: $27,960 Ann.; Lease Exp.: 8/31/24.
Legal Rent: $35,400 Ann.
Apt. 3C: $30,804 Ann.; Lease Exp.: 11/30/25.
Legal Rent: $30,804 Ann.
Apt. 3D: $27,600 Ann.; Lease Exp.: 9/14/24.
Legal Rent: $37,920 Ann.
Apt. 3E: $27,600 Ann.; Lease Exp.: 7/31/24.
Legal Rent: $37,920 Ann.
Apt. 3F: $30,804 Ann. ; Lease Exp.: 9/31/24.
Legal Rent: $30,804 Ann.
Apt. 4A: $27,780 Ann.; Lease Exp.: 7/31/24.
Legal Rent: $37,920 Ann.
Apt. 4B: $26,916 Ann. (Available)
Legal Rent: $26,916 Ann.
Apt. 4C: $30,804 Ann.; Lease Exp.: 1/14/25.
Legal Rent: $30,804 Ann.
Apt. 4D: $38,400 Ann.; Lease Exp.: 1/14/25.
Legal Rent: $48,000 Ann.
Apt. 4E: $27,468 Ann.; Lease Exp.: 9/30/24.
Legal Rent: $27,468 Ann.
Apt. 4F: $31,800 Ann.; Lease Exp.: 8/31/24.
Legal Rent: $45,300 Ann.
Total Gross Rent: $585,177.60 Ann.
Total Legal Rent: $732,324 Ann.
Expenses:
Electric: $6,000 Ann. (Common Area Only)
Heat/Hot Water: $14,000 Ann.
Insurance: $14,500 Ann.
Water/Sewer: $12,000 Ann.
Taxes: $2,651.68 Ann. (Protected For The Next 34 Years)
Total Expenses: $49,151.68 Ann.
Current Gross Income: $558,261.60 Ann.
Pro Forma Gross Income: $732,324 Ann.
Current Net Operating Income (NOI): $536,025.92 Ann. (6.8% Cap)
Pro Forma Net Operating Income (NOI): $683,172.32 Ann. (8.89% Cap)
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£573,007
|
£33.91
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£573,007
|
£33.91
|
| Taxes |
£2,074
|
£0.12
|
| Operating Expenses |
£36,384
|
£2.15
|
| Total Expenses |
£38,458
|
£2.28
|
| Net Operating Income |
£534,549
|
£31.64
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £573,007 |
| Annual Per SF | £33.91 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £573,007 |
| Annual Per SF | £33.91 |
| Taxes | |
|---|---|
| Annual | £2,074 |
| Annual Per SF | £0.12 |
| Operating Expenses | |
|---|---|
| Annual | £36,384 |
| Annual Per SF | £2.15 |
| Total Expenses | |
|---|---|
| Annual | £38,458 |
| Annual Per SF | £2.28 |
| Net Operating Income | |
|---|---|
| Annual | £534,549 |
| Annual Per SF | £31.64 |
Property Facts
| Price | £6,015,476 | Building Class | C |
| Price Per Unit | £300,774 | Lot Size | 0.18 AC |
| Sale Type | Investment | Building Size | 16,896 SF |
| Net Initial Yield | 8.89% | Average Occupancy | 100% |
| No. Units | 20 | Number of Floors | 4 |
| Property Type | Residential | Year Built | 2022 |
| Property Subtype | Apartment | Parking Ratio | 0.77/1,000 SF |
| Apartment Style | Mid Rise |
| Price | £6,015,476 |
| Price Per Unit | £300,774 |
| Sale Type | Investment |
| Net Initial Yield | 8.89% |
| No. Units | 20 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 16,896 SF |
| Average Occupancy | 100% |
| Number of Floors | 4 |
| Year Built | 2022 |
| Parking Ratio | 0.77/1,000 SF |
Unit Amenities
- Air Conditioning
- Sprinkler System
Site Amenities
- 24 Hour Access
- Controlled Access
- Fenced Lot
- Security System
- Gated
- Storage Space
- Bicycle Storage
- Public Transportation
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Walk Score ®
Very Walkable (85)
Transit Score ®
Excellent Transit (84)
Bike Score ®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Number | 04695-0070 | Total Assessment | £737,077 |
| Land Assessment | £82,871 | Annual Taxes | £2,074 (£0.12/sf) |
| Improvements Assessment | £654,206 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
04695-0070
Land Assessment
£82,871
Improvements Assessment
£654,206
Total Assessment
£737,077
Annual Taxes
£2,074 (£0.12/sf)
Tax Year
2024
zoning
| Zoning Code | R5D |
| R5D |
-
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3575 Laconia Ave
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