Riverdale Avenue Mixed-Use
3174-3190 Riverdale Ave, Bronx, NY
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Two adjacent buildings with residential and commercial units in Riverdale.
Type:MULTIFAMILY
Property size:
12,143 SFLot size:
0.19 AcresPrice / SF:
$452/SF- Added:
- Dec 26, 2024
- Days on Market:
- 546
- Last Refresh:
- May 20 at 8:46 pm
Property Features for 3174-3190 Riverdale Ave
General Information
- Standard status
- Active
- Size
- 12,143 SF
- Lot size
- 0.19 Acres
- Property subtype
- MULTIFAMILY
Listing office Kassin Sabbagh Realty (KSR) (212) 417-9217
Listing date Dec 26, 2024
Source Moodyscre
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Kassin Sabbagh Realty (KSR)
HighLights
- Prime location in Riverdale, a high‑income area, with 213 feet of frontage on Riverdale Avenue and 214 feet on Irwin Avenue.
- Significant annual tax savings of approximately $218,425 due to a 421a tax abatement.
- Combination of 22 residential units and 8 commercial spaces, offering a live/work standard.
- Enjoy luxurious amenities including private terraces, outdoor common seating areas, and in‑unit laundry.
- Convenient transportation options including Metro‑North and subway stations.
- Benefit from on‑site parking with an eight‑car indoor garage at 3190 Riverdale and a five‑car indoor garage at 3174 Riverdale.
Overview
Located in the Riverdale neighborhood of The Bronx, 3174-90 Riverdale Avenue presents a real estate opportunity featuring two adjacent buildings. The properties include 22 residential units and 8 commercial spaces. The buildings have 213 feet of frontage on Riverdale Avenue and 214 feet on Irwin Avenue, situated between West 231st Street and West 232nd Street. Local educational institutions such as the Fieldston School, Manhattan College, and the Riverdale/Kingsbridge Academy are nearby. Local shopping and dining options include Liebman’s Deli, Starbucks, Walgreens, and An Beal Bocht Café. Recreational options include Van Cortlandt Park, Seton Park, and Wave Hill’s gardens. Transportation is facilitated by Metro-North and subway stations at 231st and Broadway and 225th and Marble Hill. The properties offer amenities including private terraces, outdoor common seating areas, and laundry facilities in every apartment. All units, both residential and commercial, are equipped with central heating and air conditioning. Specifically, 3190 Riverdale features twelve two-bedroom units with two baths, one three-bedroom unit with two baths, and an eight-car indoor garage. 3174 Riverdale includes eight two-bedroom units with two baths, one one-bedroom unit with one bath, and a five-car indoor garage. Other features include durable rubber roofs, brick and masonry construction, and comprehensive utility systems. The buildings are equipped with state-of-the-art sprinkler systems, backup pumps, compactor rooms, and both gas and electric meters. Electrical systems feature 160-amp circuit breakers for residential units and 150-200 amp breakers for commercial spaces. Digital elevator rooms with air-conditioning and ‘on-demand’ wall-mounted Navien boilers for heating ensure optimal performance. Commercial units have Carrier heating and AC units. Security cameras are installed throughout, and ADA-compliant elevators provide accessibility to all floors. Both properties benefit from a 421a tax abatement, offering an estimated annual savings of $218,425, with 3174 Riverdale enrolled in the 15-year program. The property has a size of 12143 square feet.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $539.1k | $44.40 |
| − Vacancy | −$31.3k | −$2.58 |
| EGI | $507.9k | $41.82 |
| − OpEx | −$228.5k | −$18.82 |
| NOI | $279.3k | $23.00 |
12,143 SF · lease $44.40/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.99M
$3.49M – $4.66M
NOI $279,333 @ 7.0% cap · market cap 5.08%
Second Best
Retail
$3.65M
$3.20M – $4.26M
NOI $255,615 @ 7.0% cap · market cap 4.65%
Theoretical Best
Warehouse
$8.41M
$7.36M – $9.82M
NOI $588,997 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Bronx
- County
- Bronx
- State
- New York
- Longitude
- -73.9083
- Latitude
- 40.8823
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Two adjacent buildings with residential and commercial units in Riverdale.
Where is this apartment building located?
The property is located at 3174-3190 Riverdale Ave Bronx, NY.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Prime location in Riverdale, a high‑income area, with 213 feet of frontage on Riverdale Avenue and 214 feet on Irwin Avenue.; Significant annual tax savings of approximately $218,425 due to a 421a tax abatement.; Combination of 22 residential units and 8 commercial spaces, offering a live/work standard.
