2381 BELMONT AVENUE

For Sale - Bronx - Belmont

$1,750,000

Net Operating Income: $128,114

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Key Details

Property Type
Mixed Use
Neighborhood
Belmont
Property Dimensions
25.0 x 64.0
Property Area
10,874 sq.ft.
Total Units:
9
Stories:
6
NOI
$128,114
Price
$1,750,000
Price Per Unit
$194,444
Cap Rate
7.3%

Listing Description

INVICTUS Property Advisors has been hired on an exclusive basis for the sale of 2381 Belmont Avenue in the Little Italy submarket of The Bronx. The subject property is a six (6) story mixed-use elevator building. The property was developed in 2006 and benefits from a 421-A Tax Abatement which is scheduled to expire on 6/30/2034. Upon expiration of the 421-A, all of the residential units which are currently rent stabilized will become free market. There is approximately an additional $28,247 in gross annual preferential residential income that could be realized in the event there is tenant turnover.

Property Details

Block/Lot:
3074/30
Lot Dimensions
25.0 x 87.5
Lot Area
2,185 sq.ft
Zoning:
R6
FAR as Built:
4.98
Max FAR:
4.8
Andrew LevineInvictus Property Advisors
Contact Agent View Setup

Sales & Transactions

AddressSale PriceSale DateProperty Type
485 EAST 188TH STREET$6,100,00001/17/2018Mixed Use
663 CRESCENT AVENUE$5,085,00012/15/2016Mixed Use
2482 HOFFMAN$800,00009/28/2016Mixed Use
2480 BELMONT AVENUE$4,825,00009/13/2016Mixed Use
689 EAST 187 STREET$1,605,00005/16/2016Mixed Use
2477 ARTHUR AVENUE$800,00004/19/2016Mixed Use
633 EAST 186TH STREET$3,907,50001/19/2016Mixed Use
625 CRESCENT AVENUE$450,00001/07/2016Mixed Use
2373 ARTHUR AVENUE-11/19/2015Mixed Use
566 EAST 187TH STREET$3,127,50010/29/2015Mixed Use