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450 City Island Avenue, Bronx, NY 10464

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For Sale

$900,000

0.05 acres

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • 0 acres
    Lot size

  • Over 50 Years Old
    Age

  • Basement
    Rooms

Explore this Property

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 $1,825,000 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.
MLS# 929971

Courtesy Of Cohen And Cohen Consulting Realty Inc

(917) 962-4962

Property Features

  • Age
    Over 50 Years Old
  • Amenities
    Basement, Cable Ready
  • Appliances
    Refrigerator
  • Exterior Type
    Brick
  • Floor Covering
    Hardwood
  • Lot Size
    0.05 Acres
  • Rooms
    Basement
  • View Type
    City

Map and Directions

Directions to 450 City Island Avenue, Bronx, NY 10464

Home seller CENTURY 21 Marciano

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CENTURY 21 Marciano

(914) 235-4996
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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.