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Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 929971
Rental Info No
Year Built 1928
Annual Tax Amount $32,470
Lot Size 2,082 Sqft
Acres 0.0478
Property Sub-Type Multi Family
Source onekey2
Property Description
Introducing a rare opportunity to acquire two adjacent, fully occupied six-unit multifamily buildings on the highly sought-after City Island Avenue in the Bronx.
Offered as a package deal, 450 and 456 City Island Avenue deliver exceptional cash flow and long-term upside in one of New York City's most distinctive waterfront communities. Both properties are well maintained and consist of spacious one- and two-bedroom units with steady, reliable tenants. Together, they generate a combined gross annual income of over $246,000 with room to increase rents as leases renew.
Financial Snapshot
Metric Amount
Price $1,850,000
Units 12 Total
Gross Annual Income $246,372
Estimated Expenses (35%) $86,230
Net Operating Income (NOI) $160,142
Cap Rate 8.7%
City Island is a picturesque maritime community located off the coast of the Bronx, known for its charming small-town atmosphere, seafood restaurants, and waterfront homes. Easy access to I-95, Pelham Bay Park, and Orchard Beach, connecting residents to Manhattan and Westchester within minutes. The neighborhood continues to experience steady rental demand and rising property values, driven by limited inventory and lifestyle appeal. Walkable to dining, shops, marinas, and local amenities — tenants love the combination of urban convenience and island living.
Location
State NY
County Bronx County
Rooms
Basement Full, See Remarks
Interior
Heating Natural Gas, See Remarks
Cooling Wall/Window Unit(s)
Flooring Hardwood
Fireplace No
Appliance Gas Range, Other, Refrigerator, Oil Water Heater
Exterior
Parking Features On Street
Utilities Available Cable Available, Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, See Remarks, Sewer Connected, Trash Collection Public, Water Available, Water Connected
View City
Building
Story 3
Sewer Public Sewer
Water Public
Structure Type Brick
Others
Special Listing Condition None
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Valon Nikci
CEO & Principal Broker | License ID: 10991208180
CEO & Principal Broker License ID: 10991208180