Bronx - Beach Property For Sale #6774992

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.