861 Macy Place – Land for sale

This multifamily property is located in the historic Longwood section of the Bronx. Federally recognized as a historic landmark in 1983, this property was built in the early 1900s and constructed by renowned architect, Warren Dickerson. 861 Macy offers a Neo-Italian Renaissance design and is fitted with outer bays, stone and crown moldings along with steep stoops which provide a beautiful openness to the street below. This solid brick structure is semi-detached with a driveway on the left, leading to a large lot with ample parking in addition to a 2 car garage.
The lot size is 24 x 142 ft, building size 3,000 sf.
All three boilers were installed brand new within the last 2 years, ensuring efficient heating for each unit. The roof was recently stripped and replaced within the same time period, providing added value and protection to the property. The property is conveniently located just 1 block away from the 2 & 5 train stations, offering easy access to public transportation. It is also close to several bus routes, including x17, x4A, x4, and x46, making commuting more convenient.
Income:
Unit Type Monthly Annually
#1. 2 bed – 1 bath $2,200 $ 26,400 lease end 4/30/24
#2. 2 bed – 1 bath $2,600 $ 31,200 lease end 8/31/2024
#3. 2 bed – 1 bath $1,763 $ 21,156 lease end 11/30/24
#4. Studio $1,300 $ 15,600 vacant
Total: $94,356
Expenses:
Taxes 2023/24 $3,610
Water/sewer $3,000
Landlord electric $3,500
Landlord gas $700
Insurance: $1,560
Super $3,000
Management fee 3% $2,830
Repair & maintenance $3,000
Vacancy 3% $2,830
Total: $24,030
Net Operating Income: $70,326

Edward Kalisvaart
16463214311
edwardk@kw.com