704-710 E 138th St - Apartments FOR SALE


Bronx, NY 10454- North New York
$4,450,000 USD
212-658-0979
704-710 E 138th St, Bronx, NY for Sale
$4,450,000 USD
Apartments - FOR SALE
1/5
null | 9.55% Cap Rate

704-710 E 138th St
Bronx, NY 10454
North New York


HIGHLIGHTS

  • 20 residential units + 5 commercial retail spaces offering scale and stability in the South Bronx’s premier submarket.
  • Updated mechanical systems, common areas, and units, reducing immediate capital expenditure requirements.
  • Mark-to-market commercial upside across the 5 retail spaces to capture rising neighborhood rents.
  • Near-term residential income growth through the realization of legal regulated rents over current preferential rates.
  • Positioned within an appreciating submarket driven by institutional investment and rising neighborhood density
  • Located 0.0 miles from the Brook Ave 6 Train, under 0.7 miles from the 4, 5, and 2 lines, with the Bx33 bus at the front door.

OVERVIEW

Alpha Realty presents, 710 East 138th Street, an opportunity to acquire a mixed-use corner asset in the Mott Haven neighborhood of the Bronx. The five-story walk-up property contains 20 residential apartments and 5 commercial units, creating a diversified income stream from both residential and retail tenancy. Located at the corner of Jackson Avenue and East 138th Street, the property benefits from strong visibility and direct access to one of the South Bronx's most active mixed-use corridors. The asset offers investors a combination of in-place cash flow and future revenue growth potential. Financials provided indicate annual apartment income of $400,969 and commercial income of $192,635, generating effective gross income of $575,796 and a reported net operating income of $424,855. The property is offered at an asking price of $4,450,000. Existing commercial tenancy provides immediate exposure to neighborhood retail demand while the residential component contributes recurring income from a 20-unit apartment base. The property is positioned in Mott Haven, a neighborhood that has experienced significant public and private investment, attracting new residential, retail, and mixed-use development. Transit accessibility is a notable feature, with the Brook Avenue subway station serving the 6 train located nearby and additional access to the 2, 4, and 5 subway lines within the surrounding area. The property's corner location, mixed-use configuration, and established tenancy profile create an opportunity for investors seeking a Bronx asset with multiple income sources and long-term ownership potential.

FOR SALE DETAILS

PRICE

$4,450,000 USD

PRICE/SF

$239 USD /SF

# OF UNITS

19

PRICE/UNIT

$234,211

CAP RATE

9.55%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

1910

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,487 SF

ZONING

R6, Bronx

APN/PARCEL ID

02566-0018

ASK ABOUT THIS PROPERTY

Lev MavashevAlpha RealtyMore Info
212-658-0979

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Lev MavashevAlpha RealtyMore Info
212-658-0979

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