450 City Island Avenue Bronx, NY 10464
Single Family Attached
MLS #: 929971
Courtesy Of Cohen And Cohen Consulting Realty Inc
Property InformationDescription
Investment Opportunity Two 6-Unit Multifamily Buildings in City Island, Bronx, NY!
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.
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.
Features
- Age: Over 50 Years Old
- Appliance: Range - Gas
- Appliance: Refrigerator
- Appliance: Range
- Architecture Style: Other
- Building Units: 6
- Cooling System: Window Unit(s)
- Cooling System: Multi Units
- Cooling System: Wall/Window Unit(s)
- Exterior Type: Brick
- Floor Covering: Hardwood
- Heating System: Natural Gas
- MLSID: 929971
- Rooms: Basement
- View Type: City
MAP & DIRECTIONS
Copyright © 2025 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
