2023 Colonial Ave
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2023 Colonial Ave
41 Unit Apartment Building $6,180,592 CAD ($150,746 CAD/Unit) 6.52% Cap Rate Bronx, NY 10461
Investment Highlights
- .1 miles from #6 Pelham Bay Park Subway Station
- 1 mile from the largest park in NYC, Pelham Bay Park
Executive Summary
Concourse Realty has been retained on an exclusive basis to arrange for the sale of 2023-2025 Colonial Avenue. The property is a 41-unit walk-up apartment building, measuring 125 feet by 85 feet, with a total gross building size of 37,740 square feet. The building consists of 4 two-bedroom units and 37 one-bedroom units. The property is located in the Pelham Bay section of the Bronx, a neighborhood known
for its residential charm and close proximity to Pelham Bay Park, the largest park in New York City. 2023 Colonial Avenue is situated feet from the Pelham Bay #6 subway stop
for its residential charm and close proximity to Pelham Bay Park, the largest park in New York City. 2023 Colonial Avenue is situated feet from the Pelham Bay #6 subway stop
Financial Summary (Actual - 2023) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$839,999
|
$22.26
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$839,999
|
$22.26
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$419,999
|
$11.13
|
| Net Operating Income |
$419,999
|
$11.13
|
Financial Summary (Actual - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $839,999 |
| Annual Per SF | $22.26 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $839,999 |
| Annual Per SF | $22.26 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $419,999 |
| Annual Per SF | $11.13 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $419,999 |
| Annual Per SF | $11.13 |
Property Facts
| Price | $6,180,592 CAD | Property Subtype | Apartment |
| Price Per Unit | $150,746 CAD | Apartment Style | Mid Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.52% | Lot Size | 0.31 AC |
| Gross Rent Multiplier | 7.36 | Building Size | 37,740 SF |
| No. Units | 41 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1930 |
| Price | $6,180,592 CAD |
| Price Per Unit | $150,746 CAD |
| Sale Type | Investment |
| Cap Rate | 6.52% |
| Gross Rent Multiplier | 7.36 |
| No. Units | 41 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.31 AC |
| Building Size | 37,740 SF |
| No. Stories | 4 |
| Year Built | 1930 |
Unit Amenities
- Heating
- Kitchen
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | - |
| 1+1 | 37 | - | - |
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Walk Score ®
Very Walkable (88)
Transit Score ®
Rider's Paradise (90)
Bike Score ®
Very Bikeable (82)
PROPERTY TAXES
| Parcel Number | 04248-0048 | Improvements Assessment | $714,226 CAD (2024) |
| Land Assessment | $135,550 CAD (2024) | Total Assessment | $849,776 CAD (2024) |
PROPERTY TAXES
Parcel Number
04248-0048
Land Assessment
$135,550 CAD (2024)
Improvements Assessment
$714,226 CAD (2024)
Total Assessment
$849,776 CAD (2024)
zoning
| Zoning Code | R7-1 |
| R7-1 |
-
David Simone -
Concourse Realty Partners
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2023 Colonial Ave
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