Property Description

7-Unit Multifamily | 3018 Paulding Avenue, Bronx, NYDouglas Elliman is pleased to present an attractive 7-unit multifamily investment opportunity in the Bronx, offering investors the opportunity to acquire an income-producing residential asset with established rental income and a reported 7% capitalization rate.This property is well suited for investors, portfolio builders, and owner-operators seeking a multifamily asset with in-place income and manageable scale. INVESTMENT HIGHLIGHTS? 7 Residential Units? $168,744 Annual Rental/Gross Income? $125,200 Reported Net Operating Income? 7% Cap Rate? All Units Reported Occupied? 3 Garage/Parking Spaces? Brick Construction? R5 Zoning? Full Basement - Partially Finished? 7 Electric Meters? 7 Gas Meters? 7 Heating Units? Tenants pay electricity and gas? Approximately 0.60 miles to the nearest train? Adjacent parcel included/associated with the building - buyer to independently verify lotconfiguration and ownershipINCOME-PRODUCING ASSETThe property offers an established income stream with reported annual rental income of $168,744 and a reported $125,200 NOI, resulting in an indicated 7% capitalization rate.The existing income profile provides an investor with immediate operating history while offering the potential to evaluate future performance through rental optimization, expense management, and long-term appreciation.LOCATIONSituated on Paulding Avenue in the Bronx, the property benefits from its location within an established residential neighborhood with access to public transportation, local amenities, and surrounding residential and commercial development.The nearest train station is reported at approximately 0.60 miles from the property, providing convenient access for residents.PROPERTY & OPERATING PROFILEThe building is constructed primarily of brick and contains seven residential units. The property is serviced by public water and sewer, with oil/steam heating.The reported operating expenses include approximately:Annual Property Taxes: $22,224 Fuel Expense: $10,000Insurance: $10,000Common Area Maintenance: $1,320Reported Total Operating Expenses: $53,544The property has separate electric and gas metering, with tenants reported as responsible forelectricity and gas expenses.DUE DILIGENCEAll financial, physical, zoning, occupancy, rent-regulation, tax, and operating information should be independently verified by the purchaser and purchaser's representatives.Prospective purchasers should conduct their own due diligence, including review of leases, re

Property Features

Local Schools