Bronx Multifamily Property for Sale at 441 East 140th Street
$1,750,000
441 East 140th Street, Bronx, NY 10454
13,235 SF
Square Feet
$132
PPSF
11
Units
100.0K
PPU
8.80%
CAP
Property Description
Units
11 — PPU: 100.0K
NOI
$154,000
Cap Rate
8.80%
New York Multifamily is pleased to offer the following opportunity in the coveted neighborhood of Mott Haven. 441 East 140th Street is a 5-story walk up composed of 6 free-market and 5 stabilized apartments. Spanning 13,235 square feet, 441 East 140th Street offers investors an opportunity to capitalize on immediate upside potential by transitioning these units to Section-8 rental income. This building is conveniently located near Mottley Kitchen, Brook Park, and The Brook Avenue Subway Station.
- The Building: 441 East 140th Street comprises 1 two-bedroom apartment and 9 three-bedroom apartments. The property is a 5-story building and is not subject to LL11.
- The Metrics: Asking 8.8% Cap Rate or 6.4 GRM.
- Path to Upside: Under Section-8 rental guidelines, a Pro-Forma rent of $4,000 per apartment could enable an investor to increase annual income by over $100,000. This Pro-Forma Cap Rate equates to approximately 14.4%.
- Convenient Location: This building is conveniently located near Mottley Kitchen, Brook Park, and the Brook Avenue Subway Station.
Property Details
Asset Type
MultiFamily
Year Built
1905
Zoning
R6
Lot Size
3,800 SF
Neighborhood
Mott Haven
Submarket
Bronx
ZIP
10454
Listing Type
sale
Net Operating Income (NOI)
$244,321
Debt Service Coverage Ratio (DSCR)
2.45x
Cap Rate
13.96%
Cash Flow (Annual)
$144,770
Cash-on-Cash Return
33.09%
Monthly Debt Service
$8,296
Annual Debt Service
$99,551
View on Map
Address
441 East 140th Street
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Bronx MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale
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