2373 Arthur Ave
7 Unit Apartment Building $3,294,382 CAD ($470,626 CAD/Unit) 5.97% Cap Rate Bronx, NY 10458
INVESTMENT HIGHLIGHTS
- 'Trophy' asset located on Arthur Avenue in the heart of The Bronx's Little Italy neighborhood (just off East 186th Street).
- Consists of two buildings (front and rear) with a middle yard on one parcel.
EXECUTIVE SUMMARY
Presenting the opportunity to acquire this 'trophy' asset located on Arthur Avenue in the heart of The Bronx's Little Italy neighborhood (just off East 186th Street).
Fueled by Fordham University's ever expanding housing demand and the historic Little Italy shopping district, the Belmont section of the Bronx has maintained its status as one of the borough's most attractive and profitable locations. The subject property has been owned and managed by the same family for approximately forty three years and
consists of two buildings (front and rear) with a middle yard on one parcel . The three story building with frontage on Arthur Avenue consists of a long established neighborhood mainstay pizzeria with four apartments above. The rear building is a two story, two family home. Both properties have basements and have had new roofs installed in the past five years. There is an oil boiler and a 275 gallon above ground tank.
This centrally located site would be ideal for student housing or an owner/user.
Fueled by Fordham University's ever expanding housing demand and the historic Little Italy shopping district, the Belmont section of the Bronx has maintained its status as one of the borough's most attractive and profitable locations. The subject property has been owned and managed by the same family for approximately forty three years and
consists of two buildings (front and rear) with a middle yard on one parcel . The three story building with frontage on Arthur Avenue consists of a long established neighborhood mainstay pizzeria with four apartments above. The rear building is a two story, two family home. Both properties have basements and have had new roofs installed in the past five years. There is an oil boiler and a 275 gallon above ground tank.
This centrally located site would be ideal for student housing or an owner/user.
PROPERTY FACTS
UNIT AMENITIES
- Air Conditioning
- Basement
SITE AMENITIES
- Controlled Access
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 7 | - | - |
1 of 1
Walk Score®
Walker's Paradise (96)
Transit Score®
Rider's Paradise (99)
PROPERTY TAXES
| Parcel Number | 03065-0051 | Improvements Assessment | $195,800 CAD |
| Land Assessment | $3,013 CAD | Total Assessment | $198,813 CAD |
ZONING
| Zoning Code | C7 (Walk-up Apartment - Over Six Families with Stores (C7)) |
