FREE MARKET ! VERY LOW TAXES!! | 864 E 221st St
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FREE MARKET ! VERY LOW TAXES!! 864 E 221st St
14 Unit Block of Flats £3,181,168 (£227,226/Unit) 9.23% Net Initial Yield Bronx, NY 10467
INVESTMENT HIGHLIGHTS
- 12 of 14 Free market units
- Legal basement that is 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, 3.5-story building comprising 14 residential units, boasting a robust cap rate exceeding 9.25%.
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 | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
£380,666
|
£24.17
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£380,666
|
£24.17
|
| Taxes |
£23,328
|
£1.48
|
| Operating Expenses |
£63,739
|
£4.05
|
| Total Expenses |
£87,068
|
£5.53
|
| Net Operating Income |
£293,599
|
£18.64
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £380,666 |
| Annual Per SF | £24.17 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £380,666 |
| Annual Per SF | £24.17 |
| Taxes | |
|---|---|
| Annual | £23,328 |
| Annual Per SF | £1.48 |
| Operating Expenses | |
|---|---|
| Annual | £63,739 |
| Annual Per SF | £4.05 |
| Total Expenses | |
|---|---|
| Annual | £87,068 |
| Annual Per SF | £5.53 |
| Net Operating Income | |
|---|---|
| Annual | £293,599 |
| Annual Per SF | £18.64 |
PROPERTY FACTS
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 2 | £1,819 | 700 |
| 3+1 | 11 | £2,145 | 850 - 950 |
| 4+1 | 1 | £2,974 | 850 - 950 |
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Walk Score®
Very Walkable (82)
Transit Score®
Excellent Transit (89)
Bike Score®
Very Bikeable (79)
PROPERTY TAXES
| Parcel Number | 04679-0073 | Total Assessment | £186,599 |
| Land Assessment | £46,167 | Annual Taxes | £23,328 (£1.48/sf) |
| Improvements Assessment | £140,433 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
04679-0073
Land Assessment
£46,167
Improvements Assessment
£140,433
Total Assessment
£186,599
Annual Taxes
£23,328 (£1.48/sf)
Tax Year
2024
ZONING
| Zoning Code | R6, Bronx, (C1) (R5, R5D) |
| R6, Bronx, (C1) (R5, R5D) |
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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