3573 Laconia Avenue — Sale in Bronx, NY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Bronx, NY 10469

Investment Figures

Cap rate
8.00%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present the following opportunity in Williamsbridge. 3573 Laconia Avenue is a newly constructed elevator building situated between 212th and 213th Street. The building was issued its final certificate of occupancy in August 2023. With a high average rent of $2,589 per apartment through Section 8 vouchers, this meticulously maintained asset benefits from an active 421-a tax abatement, resulting in a current annual tax bill of $2,638. The abatement has 32 more years til expiration. All leases are equipped with the proper 421-a riders, confirming that each unit will revert to free market status once the 421-a abatement term concludes. There are also 13 parking spots, attributing an additional annual income of $24,000 and $137,761 in Preferential Rent Upside that can be captured upon vacancy. Investment Highlights: • 3573 Laconia Avenue, built in 2022, is a 20 unit walk-up building, which comprises 3 studios, 10 one bedrooms, 6 two bedrooms and 1 three bedroom apartments, approx. 14,942 SF. • Tax Class: 2 | Zoning: R5D | 100% Rent Stabilized • The property benefits from close proximity to two prime retail corridors, East Gun Hill Road & Boston Road, Bronx Charter School for Excellence, Williamsbridge Oval, & the Gun Hill Road 2 & 5 subway.

Market Context

This multifamily in Bronx, NY is listed for sale. It is offered at an approximate 8.0% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 100 days. Compare it against other multifamily listings for sale in Bronx, NY — view the full market.

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