Bronx Assemblage | Income + Development Upside | 8,811 SF Lot
Rare opportunity to acquire two contiguous income-producing properties at 350 & 354 East 193rd Street, Bronx, NY.
The offering consists of a combined 8,811 SF across two adjoining lots with R4A zoning (0.75 FAR), providing approximately ±6,600 buildable SF as-of-right. Preliminary discussions with land use counsel indicate a viable pathway to rezoning to R6B or R7B, offering significant long-term development potential.
The property is currently configured as a rent-by-room income model across both buildings, generating strong in-place cash flow.
Income Snapshot:
Current Rent Roll (August 2025): $12,974/month (including garage)
Annual Gross Income: ~ $155,700
NOI: ~ $95,700
Cap Rate: ~4.6%
Expenses are owner-reported and include utilities and insurance; excludes management, vacancy, and capital reserves.
Property Breakdown:
350 E 193rd St: ~2,025 SF building on 3,658 SF lot (6 rooms)
354 E 193rd St: ~2,065 SF building on 5,000 SF lot (8 rooms)
Total: 14 rentable rooms + 3 garage spaces ($750/month)
Highlights:
Rare two-lot assemblage
In-place cash flow with upside
As-of-right development potential
Rezoning pathway for higher-density residential (buyer to verify)
Proximate to Fordham University, Metro-North, B/D and 4 trains
Properties can be delivered vacant
Offering Price: $2,100,000
Seller is open to structuring owner financing for qualified buyers.
**Featuring Some Enhanced photos