Multifamily
679 Magenta Street
679 Magenta St, The Bronx, NY 10467
Listing Price: $12,250,000
Investment Overview
Marcus & Millichap is pleased to offer 679 Magenta Street, located in the Prime Olinville neighborhood of the Bronx. Situated between Olinville and White Plains Road, this professionally managed , 74-unit walk-up building spans 61,800 square feed and is composed of 38 one, 34 two and 2 three-bedroom apartments. Ownership has spent over one million dollars on capital improvements over the past 5 years including ~100,000 for new window lintels, ~$150,000 on brick pointing, new electrical breakers, intercom system and partial roof replacement. Over 50% of the apartments were updated with new kitchens, bathrooms, flooring and sheetrock. 19 of 74 units have preferential rents offering potential upside to experienced operators to capitalize on an ~82,822/year delta between actual collected and DHCR registered rents. This offering also comes with extremely attractive assumable debt with a loan balance of $10M @ 3.67% Interest Rate fixed until 2032. 679 Magenta is located short walk from the Bronx River Pkwy, directly across from P.S 041 School and is a short walk to access the Gun Hill Road 2&5 trains. ?
679 Magenta Street
Investment Highlights
- 74-unit walk-up building spans 61,800 square feed and is composed of 38 one, 34 two and 2 three-bedroom apartments.
- Ownership has spent over one million dollars on capital improvements including new window lintels, brick pointing, new electrical breakers, intercom system, and partial roof replacement.
- 679 Magenta is located short walk from the Bronx River Pkwy, directly across from P.S 041 School and is a short walk to access the Gun Hill Road 2&5 trains?.
Listing Price: $12,250,000
Investment Highlights
- 74-unit walk-up building spans 61,800 square feed and is composed of 38 one, 34 two and 2 three-bedroom apartments.
- Ownership has spent over one million dollars on capital improvements including new window lintels, brick pointing, new electrical breakers, intercom system, and partial roof replacement.
- 679 Magenta is located short walk from the Bronx River Pkwy, directly across from P.S 041 School and is a short walk to access the Gun Hill Road 2&5 trains?.
Investment Overview
Marcus & Millichap is pleased to offer 679 Magenta Street, located in the Prime Olinville neighborhood of the Bronx. Situated between Olinville and White Plains Road, this professionally managed , 74-unit walk-up building spans 61,800 square feed and is composed of 38 one, 34 two and 2 three-bedroom apartments. Ownership has spent over one million dollars on capital improvements over the past 5 years including ~100,000 for new window lintels, ~$150,000 on brick pointing, new electrical breakers, intercom system and partial roof replacement. Over 50% of the apartments were updated with new kitchens, bathrooms, flooring and sheetrock. 19 of 74 units have preferential rents offering potential upside to experienced operators to capitalize on an ~82,822/year delta between actual collected and DHCR registered rents. This offering also comes with extremely attractive assumable debt with a loan balance of $10M @ 3.67% Interest Rate fixed until 2032. 679 Magenta is located short walk from the Bronx River Pkwy, directly across from P.S 041 School and is a short walk to access the Gun Hill Road 2&5 trains. ?
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