Bronx, NY Daniel Hakimian, investment sales associate at Highcap Group, has closed the sale of the building located at 240 East Tremont Ave. in the Mount Hope section of the borough for $1.3 million. Hakimian represented the buyer and seller in an off-market transaction.
The subject property is a four-story mixed-use building totaling 12,160 s/f. The building is comprised of six apartments and one commercial space. The building has 38 ft. of frontage on East Tremont Ave. and is located one block from the B and D trains at Tremont Ave.
The sale price equates to $185,714 per unit, with a rent roll multiple of 10.5X and a capitalization rate of 5.6%.