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707 E 189th St

5 Unit Block of Flats £859,913 (£171,983/Unit) Bronx, NY 10458

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Investment Highlights

Close to Transportation
Free Market Building

Few blocks from Fordham University

Executive Summary

Great investment in the Belmont Section of the Bronx. The property is located in close proximity to Arthur Avenue (Little Italy) Fordham University and The Bronx Zoo. Fully tenant occupied legal 5 Family FREE market apartments. Property consists of 2- studios, 2-1 Bedroom apartments, 1- 2 Bedroom apartment, full finished walk out basement and 3 parking spaces in the back. Selling fully tenant occupied. The apartments have been Renovated. * Clean and quite building, Huge potential to increase rents or Convert units to Fordham University student housing. R6 Zoning, with unused air rights.

Financial Summary (Actual - 2023)	Annual	Annual Per SF
Gross Rental Income	£75,115	£20.44
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	£75,115	£20.44
Taxes	-	-
Operating Expenses	-	-
Total Expenses	£27,386	£7.45
Net Operating Income	£47,729	£12.99

Financial Summary (Actual - 2023)

Gross Rental Income
Annual	£75,115
Annual Per SF	£20.44

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	-
Annual Per SF	-

Effective Gross Income
Annual	£75,115
Annual Per SF	£20.44

Taxes
Annual	-
Annual Per SF	-

Operating Expenses
Annual	-
Annual Per SF	-

Total Expenses
Annual	£27,386
Annual Per SF	£7.45

Net Operating Income
Annual	£47,729
Annual Per SF	£12.99

Property Facts

Price	£859,913	Building Class	C
Price Per Unit	£171,983	Lot Size	0.04 AC
Sale Type	Investment	Building Size	3,675 SF
Sale Conditions	1031 Exchange	Average Occupancy	100%
No. Units	5	Number of Floors	3
Property Type	Residential	Year Built/Renovated	1931/2015
Property Subtype	Apartment Multifamily Dormitory	Parking Ratio	0.82/1,000 SF
Apartment Style	Low Rise	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	£859,913
Price Per Unit	£171,983
Sale Type	Investment
Sale Conditions	1031 Exchange
No. Units	5
Property Type	Residential
Property Subtype	Apartment Multifamily Dormitory
Apartment Style	Low Rise
Building Class	C
Lot Size	0.04 AC
Building Size	3,675 SF
Average Occupancy	100%
Number of Floors	3
Year Built/Renovated	1931/2015
Parking Ratio	0.82/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Unit Amenities

Basement

Site Amenities

Security System

1 of 1

Walk Score ®

Very Walkable (86)

Transit Score ®

Rider's Paradise (95)

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PROPERTY TAXES

Parcel Number	03091-0097	Improvements Assessment	£116,592 (2024)
Land Assessment	£1,188 (2024)	Total Assessment	£117,780 (2024)

PROPERTY TAXES

Parcel Number

03091-0097

Land Assessment

£1,188 (2024)

Improvements Assessment

£116,592 (2024)

Total Assessment

£117,780 (2024)

zoning

Zoning Code	C8-1 (R6 Zoning, with unused air rights. Might be able to convert to 7-8 Units. Consult with your own arichtect.)
C8-1 (R6 Zoning, with unused air rights. Might be able to convert to 7-8 Units. Consult with your own arichtect.)