Webb Developement Services is please to present 676 Nereid Avenue, a 22-unit, walk-up apartment building fronting Nereid Ave (238th Street) between White Plains Road and the Bronx River Parkway. Income is about $258,000, and the average rent per room is only $272. This immaculate property has been owned by the same family for over 32 years and has no active HPD or DOB violations. The unit mix is comprised of 12 one-bedrooms, 7 two-bedrooms, and 3 three-bedrooms. There is a Super on site paying a reduced rent in Unit 2. The property is located steps from the White Plains Road commercial corridor and MTA #2/5 subway line Nereid Avenue stop. This is truly a turn-key property. Overview Building Type: Apartment Buildings Block/Lot: 5042/25 Lot Dimensions: 55.33' x 105' Lot Sq Ft: 5,810 Stories: 4 Units: 22 Zoning: R5 w/R5A secondary FAR: 1.25 Year Built: 1924 Building Sq Ft: 17,952 Building Dimensions: 55' x 90' Expenses Total Annual Expenses: $124,785 Investment Information Gross Monthly Income: $21,474 Gross Annual Income: $257,687 Less Total Expenses: $124,785 Net Operating Income: $117,441 Summary Price Per Sq Ft: $106 Capitalization Rate: 6.20% Gross Rent Multiple: 7.40
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