Friedman-Roth Realty Services is pleased to exclusively offer 2334 Tiebout Avenue, a 76-unit, six-story elevator apartment building located in the Belmont section of the Bronx.
This exceptional multifamily investment offers an approximate 10.0% CAP Rate, strong in-place cash flow, and significant long-term upside through approximately $297,000 in preferential rent growth. Family-owned for nearly 70 years, the property has been well maintained and benefits from numerous recent capital improvements.
Recent upgrades include a new elevator (2021), upgraded electrical service with new electric stoves, rewired apartments, new risers, a new roof, renovated apartments, and a RunWise smart boiler management system designed to improve operating efficiency.
Investment Highlights
Approximate 10.0% CAP Rate
76 Residential Units
38 Preferential Rents with Approximately $297,000 of Upside
6-Story Elevator Building
Family Owned for Nearly 70 Years
Extensive Capital Improvements Completed
Strong In-Place Cash Flow
Asking Price: $7,250,000
Offering Memorandum, financials, and additional due diligence materials are available upon request.