New York Multifamily is pleased to offer the following opportunity in one of the most sought-after neighborhoods in the Bronx. 155 & 171 East Mosholu Parkway North is situated in prime Norwood between Van Courtlandt Avenue East and East 206th street, right off Rochambeau Avenue and a short walk to the Grand Concourse. The buildings collectively encompass 127,500 square feet with 235’ feet of frontage on East Mosholu Parkway North, facing the park. The buildings have been professionally managed, owned and operated by the same family for over 25 years, offering investors a unique opportunity to acquire legacy assets with immediate economies of scale in a highly desirable submarket of the Bronx. 155 is an 89-unit elevator building whereas 171 is an 18-unit elevator building with an overall unit mix of 11 studio, 65 one-bed, 22 two-bed, 5 three-bed & 4 four-bedroom apartments. These meticulously maintained buildings have recently benefited from three brand-new elevators in 155, recent gas conversions in both buildings as well as future rental upside thought a $327,714 preferential rent delta of actual vs DHCR legal registered rents. 155 & 171 East Mosholu Parkway North are conveniently located near the Mosholu Park 4 train, the Norwood & Grand Concourse B & D trains, Montefiore Hospital, Lehman College, Fordham University, Van Courtlandt Park Golf Course, Williamsbridge Oval Recreation Center, The Bronx Zoo, The New York Botanical Garden & much more. The property is being sold "as is" and will be delivered free and clear at closing. THE OPPORTUNITY • Legacy Assets: The buildings collectively encompass 127,500 square feet with 235’ feet of frontage on East Mosholu Parkway North, facing the park. 155 is an 89-unit elevator building whereas 171 is an 18-unit elevator building with an overall unit mix of 11 studio, 65 one-bed, 22 two-bed, 5 three-bed & 4 four-bedroom apartments with an average rent of $1,431/month. • Professionally Managed: 155 & 171 East Mosholu Parkway North have been professionally managed, owned and operated by the same family for over 25 years. Meticulously maintained, both buildings have benefited from recent gas conversions as well as complete upgrades of 3 of the 4 elevators throughout. • Economies of Scale & Future Potential: Investors have the unique opportunity to acquire legacy assets with immediate economies of scale in a highly desirable submarket of the Bronx and can execute on future rental upside through a $329,248 preferential rent delta of actual collected vs. DHCR legal registered rents. 57% of units are currently receiving pref rent. • Prime Location: The buildings are conveniently located near the Mosholu Park 4 train, the Norwood & Grand Concourse B & D trains, Montefiore Hospital, Lehman College, Fordham University, Van Courtlandt Park Golf Course, Williamsbridge Oval Recreation Center, The Bronx Zoo, The New York Botanical Garden & much more.