2377 Creston Ave - Apartments FOR SALE


Bronx, NY 10468- Fordham Heights
$5,895,000 USD
212-430-5281
2377 Creston Ave, Bronx, NY for Sale
$5,895,000 USD
Apartments - FOR SALE
1/18
null | 7.5% Cap Rate

2377 Creston Ave
Bronx, NY 10468
Fordham Heights


HIGHLIGHTS

  • This 58-unit walk-up building is composed of six stores and 52 residential units.
  • It comprises 32 one-bedroom, 16 two-bedroom, and five three- bedroom apartments.
  • 7.5% Cap Rate | 5.39x GRM | $101,638 Per Unit | $128 Per Sqft
  • The building offers investors a steady annual cash flow of $440,999 with $23,108 in delta upside
  • 2337-2381 Creston Avenue is well located, close to St. James Park, Monroe University, and the Fordham Road B & D Train.

OVERVIEW

The New York Multifamily Team at Marcus & Millichap is pleased to offer the following opportunity in one of the most sought-after neighborhoods in the Bronx, Fordham. 2377-2381 Creston Avenue is situated in the prime Fordham retail corridor, right off 184 and 188th Streets, and a short walk to Monroe University. The building spans 45,966 square feet and comprises 58 units: 52 residential and six commercial stores on the ground floor. This corner mixed-use walk-up building has been owned and operated by the same family for over 18 years and is composed of 32 one-bed, 16 two- bed & 5 three-bedroom apartments. This offers investors a unique opportunity to acquire a legacy asset in a highly desirable submarket of the Bronx that provides future rental upside though a $23,108 annual preferential rent delta of actual vs DHCR legal registered rents. 2377-2381 Creston Avenue is conveniently located a few steps from St. James Park, Monroe University, and the Fordham Road B & D Trains.

FOR SALE DETAILS

PRICE

$5,895,000 USD

PRICE/SF

$128 USD /SF

# OF UNITS

58

PRICE/UNIT

$101,638

CAP RATE

7.5%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

2377 - 2381 Creston Avenue

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

1924

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,634 SF

ZONING

R8, Bronx

APN/PARCEL ID

03173-0064

ASK ABOUT THIS PROPERTY

Michael FuscoMarcus & MillichapMore Info
212-430-5281

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Michael FuscoMarcus & MillichapMore Info
212-430-5281

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.