Description

•A pair of multifamily buildings built in 2016, located in the Morris Heights neighborhood of the Bronx. •The offering consists of two 4-story walk-up buildings, each with 9 one-bedroom apartments, totaling approximately 15,224 square feet. •Both properties are fully free market and fall under the 2B tax class, which provides long-term protection against significant property tax increases. •There is income upside potential as units turn over, with updated subsidy payment standards allowing up to $2,584 for one-bedroom units where tenants are responsible for gas and electricity. •An existing loan of $3,829,000 is in place at a 3.79% fixed interest rate, maturing in 2030. •The properties are conveniently located within walking distance of the 4 train at Mount Eden Avenue Station, offering excellent transit accessibility.