The New York Family Team Marcus & Millichap is pleased to present two adjacent walk-up buildings in the prime Park Versailles neighborhood of the Bronx. 1364 & 1374 Bronx River avenue span 56,915 square feet and are prominently positioned at the intersection of Elder Avenue, Boynton Avenue, and Bronx river Avenue. These meticulously maintained mixed-use buildings comprise 74 residential apartments and 4 ground-floor retail units, with 180 feet of frontage along the avenue. The offering also includes an additional $20,760 in annual income from a rooftop cell anteana leased to T-Mobile. Profesionally managed for the past decade, 1364 & 1374 Bronx River Avenue are ideally located near Starlight Park, the Westchester Avenue retail corridor, James Monroe High School, and the Elder Avenue 6 Train.
The area is characterized by a mix of historic architecture and modern developments, attracting a wide range of residents and businesses. Nearby cultural and recreational landmarks, such as the Bronx Zoo and the New York Botanical Garden, add to the neighborhood’s charm, making it a desirable location for both living and working. The presence of educational institutions and healthcare facilities further enhances the community's appeal.
With a steady demand for housing and commercial spaces, the local economy is robust, supported by a strong base of small businesses and a growing tech scene. The market benefits from an annual rent growth rate of 3-5% and low vacancy rates, providing a stable investment environment. 1364-1374 Bronx River Avenue stands at the heart of this vibrant market, offering a promising investment opportunity with potential for long-term appreciation.