- For Sale $28,000,000
- Property Type Multi-Family
- Property Size 96,492 SF
- Units 100
- Lot Size 0.19 Acre
- Year Built 1911
- Date Updated Feb 5, 2024
- 6 total walk-up buildings, spanning 96,500 gross square feet, with 100 residential units and 311 bedrooms.
- Densely positioned within 1 block of one another, simplifying management and maintenance.
- 435′ of street frontage with each building having airshafts and carveouts, allowing windows on all four sides.
- $2,650,000 gross income, averaging $2,200 per unit, with a T12 NOI of $1,900,000.
- All 6 buildings are perfectly maintained with less than 12 violations per building on average.
- 3 Buildings benefit from a J51 abatement through 2037-2040, as a result of recent capital improvements.
- Agency debt is assumable at an average of 4.6% Fixed, with I/O burning off in 2026. Debt model available.
- Our asking price of $28,000,000 suggests a 14% Cash on Cash, or 9% after principal, come 2026.
- The buildings have separate loans and can be sold individually or as a package.
- Large unit layouts and proximity to Fordham make this a potential student housing opportunity.
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Contacts
Brock Emmetsberger
Matthews Real Estate Investment Services
Location
Getting Around
-
Walk Score ®
Walker's Paradise (92) -
Transit Score ®
Rider's Paradise (100) -
Bike Score ®
Bikeable (51)
- City Bronx, NY
- Neighborhood Fordham
- Zip Code 10458
- Market Bronx
Points of Interest
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Fordham
0.21 miles
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Kingsbridge Road
0.24 miles
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Fordham Road
0.45 miles
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Botanical Garden
0.48 miles
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Bedford Park Blvd.
0.54 miles
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Bedford park Blvd.
0.56 miles
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Fordham Road
0.57 miles
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Bedford Park Boulevard–Lehman College
0.61 miles
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Bedford Park Boulevard
0.62 miles
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182-183 Street
0.79 miles
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Exxon
0.37 miles
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Shell
0.49 miles
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BP
0.51 miles
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Lukoil
0.88 miles
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Gulf
1.27 miles
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Sunoco Gas Station
1.34 miles
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Speedway
1.41 miles
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BP
1.45 miles
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BP
1.50 miles
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Mobil
1.54 miles
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Parking Area A
0.54 miles
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Fordham Regional Parking Facility
0.58 miles
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Southern Boulevard Parking
1.09 miles
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Bronx River Parking
1.22 miles
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Asia Parking
1.43 miles
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Department of Sanitation District 6 Garage
1.49 miles
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Broadway Parking Garage
1.74 miles
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Edison Parkfast #136
2.04 miles
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P & P Car Parking
2.86 miles
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Little Man Parking
2.87 miles
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Little Caesars
0.18 miles
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2 Bros. Pizza
0.35 miles
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Texas Chicken & Burgers
0.37 miles
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Dunkin'
0.41 miles
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New Capital
0.43 miles
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White Castle
0.45 miles
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Hudson Garden Grill
0.46 miles
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Fiesta Cafe Bar
0.51 miles
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Howl at the Moon
0.53 miles
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Tony & Tina's Pizzeria
0.54 miles
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Public School 46
0.17 miles
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Fordham Leadership Academy
0.35 miles
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Bronx High School of Law and Community Service
0.35 miles
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Fordham High School of Arts
0.36 miles
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Theodore Roosevelt High School
0.36 miles
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Belmont Preparatory High School
0.36 miles
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Knowledge And Power Preparatory International High School
0.37 miles
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Academy of Mount St. Ursala
0.37 miles
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Fordham University
0.42 miles
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Mount Carmel School
0.43 miles
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Children's Learning Company
1.34 miles
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East Bronx NAACP Day Care Center
2.71 miles
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Prospect Family Support Center
3.37 miles
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Tig and Peach
5.14 miles
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Pelham Children's Center
5.32 miles
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Junior Wonders Nursey School
5.41 miles
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Friends & Family Daycare
5.84 miles
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Kid Krazy
5.85 miles
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Park West Montessori School
6.01 miles
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Sunshine Learning Center
6.03 miles
Contact Listing Broker
Brock Emmetsberger
Matthews Real Estate Investment Services
