931-939 Summit Ave | Bronx, NY 10452
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931-939 Summit Ave
Bronx, NY 10452
Residential Property For Sale · 32 Units
Executive Summary
Kassin Sabbagh Realty (KSR) is managing the sale of 931-937 Summit Avenue, a prime real-estate opportunity in the High Bridge section of the Bronx. Built in 2015, this multifamily property consists of32 units. The building spans a total of 21,200SF,with an equal lot size of 21,200 SF. The unit mix includes one studio, five 1-bedroom apartments, and two 2-bedroom units. The property is ideally situated within walking distance to Yankee Stadium, Macombs DamPark, and Lincoln Medical Center. Nearby public transportation includes the 4 Trainat161stStreet/Yankee Stadium and the B, D,A, and C Trains at155th Street, providing easy access to the rest of the city.
KeyFeatures:
• 421ATaxAbatement:
• Currently in its 9th year.
• After the 10thyear, taxes phase in at 20% per year over 5 years.
• Starting in the 16thyear, full property taxeswill be paid.
• Once the 421Atax abatement expires, the property will become fully free-market, allowing you to capture market rents and significantly increase the net operating income (NOI).
KeyFeatures:
• 421ATaxAbatement:
• Currently in its 9th year.
• After the 10thyear, taxes phase in at 20% per year over 5 years.
• Starting in the 16thyear, full property taxeswill be paid.
• Once the 421Atax abatement expires, the property will become fully free-market, allowing you to capture market rents and significantly increase the net operating income (NOI).
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 0.21 AC |
| No. Units | 32 | Building Size | 21,424 SF |
| Property Type | Residential | Number of Floors | 4 |
| Property Subtype | Apartment | Year Built | 2014 |
| Apartment Style | Mid Rise | Opportunity Zone |
Yes
|
| Building Class | B |
| Sale Type | Investment |
| No. Units | 32 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | B |
| Lot Size | 0.21 AC |
| Building Size | 21,424 SF |
| Number of Floors | 4 |
| Year Built | 2014 |
| Opportunity Zone |
Yes |
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £995,783 | |
| Land Assessment | £140,939 | Total Assessment | £1,136,723 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£140,939
Improvements Assessment
£995,783
Total Assessment
£1,136,723
zoning
| Zoning Code | R7 (Medium-Density Apartment House District with Lower Parking Requirements.) |
| R7 (Medium-Density Apartment House District with Lower Parking Requirements.) |
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