Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Bronx Multifamily Investment Opportunity Title is generated by Realmo AI

    318 E 160th St The, Bronx, NY 10451

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Four-story, eight-unit apartment building in the Melrose neighborhood.

    Type:Multifamily
    Property size:
    6,060 SF
    Price / SF:
    $198/SF
    Added:
    Jul 10, 2024
    Days on Market:
    684
    Last Refresh:
    Mar 17 at 1:26 pm

    Property Features for 318 E 160th St The

    General Information

    Standard status
    Active
    Size
    6,060 SF
    Property subtype
    Multifamily

    Building Details

    Year Built
    1931

    We can help!

    Listing Contact
    Mitchel Flaherty
    Mitchel Flaherty

    Listing agent Mitchel Flaherty License #NY

    Listing office RIPCO Real Estate

    Listing date Jul 10, 2024

    Source Crexi

    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 RIPCO Real Estate

    HighLights

    • Significant potential for future appreciation in the growing Bronx real estate market.
    • Stable rental income from 8 residential units.
    • Favorable R7‑2 zoning allows for residential development with 8,514 buildable square feet.
    • Zoning also permits Community Facility development with 16,088 buildable square feet.
    • Strategic location in the vibrant Melrose neighborhood, close to public transportation, shopping, and dining.
    • Well‑maintained 4‑story building built in 1931.

    Overview

    Located in the Melrose neighborhood of the Bronx, 318 E 160th St is a 4-story walk-up apartment building constructed in 1931. The property features 8 residential units and has a gross floor area of approximately 6,060 square feet. The building is situated on the south side of East 160th Street, between Park Avenue and Courtlandt Avenue, offering convenient access to public transportation, shopping, dining, and other amenities. Zoned R7-2, the property allows for residential development with a Floor Area Ratio (FAR) of 3.44, equating to 8,514 buildable square feet. The zoning also permits Community Facility development with an FAR of 6.5, equating to 16,088 buildable square feet. This well-maintained building presents an opportunity for stable rental income and future appreciation, making it an attractive investment in the Bronx real estate market.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.916514
    Latitude
    40.824064

    Nearby Similar for Sale

    • $456,000
      3,000 SF

      Established Laundromat Business For Sale

      High-income laundromat business in the Bronx with steady customer base.
      98 W 162nd Street, Bronx, NY 10452
      View Details
    • $949,000
      2,988 SF

      Versatile Commercial Property in Bronx, NY

      Income-generating commercial property with dual storefronts in a growing market.
      70 Grace Church Street, Bronx, NY 10573
      View Details
    • $1,500,000
      2,763 SF

      Vacant Mixed-Use Bronx Opportunity

      Fully vacant mixed-use property in the Castle Hill corridor.
      847 Castle Hill Avenue, Bronx, NY 10473
      View Details
    • $888,000
      2,680 SF

      Bronx Two-Family Home For Sale

      Well-maintained two-family home in the Castle Hill section of Bronx.
      2069 Seward Avenue, Bronx, NY 10473
      View Details
    • $1,250,000
      2,820 SF

      Charming Bronx Multi-Family Home

      Well-maintained, detached 3-family home near Pelham Bay Park.
      2925 Wellman Avenue, Bronx, NY 10461
      View Details
    • $999,000
      2,730 SF

      Well-Maintained Bronx Two-Family Home

      Spacious two-family home near transportation and amenities.
      3360 Holland Avenue, Bronx, NY 10467
      View Details
    • $749,900
      2,100 SF

      Spacious Bronx Two-Family Home

      Two-family home in Van Nest neighborhood with renovation potential.
      1723 Melville Street, Bronx, NY 10460
      View Details
    • $2,880,000
      5,000 SF

      Bronx Retail Investment Opportunity

      Freestanding retail property in the Bronx, fully leased.
      1254 Southern Boulevard, Bronx, NY 10459
      View Details
    • $849,999
      2,500 SF

      Spacious Bronx Two-Family Home

      Two-family home in Parkchester/Soundview with income potential.
      1163 Virginia Avenue, Bronx, NY 10472
      View Details
    • $899,000
      2,288 SF

      Bronx Multi-Family Investment Opportunity

      Well-maintained Bronx multi-family property with income potential.
      3529 Laconia Ave, Bronx, NY 10469
      View Details
    • $705,000
      1,417 SF

      Bronx Two-Family Brick Home

      Charming 1940 two-family home in Wakefield neighborhood.
      4121 Grace Avenue, Bronx, NY 10466
      View Details
    • $2,830,000

      Bronx Property on Arthur Avenue

      Located in a vibrant neighborhood, ideal for redevelopment or renovation.
      2356 Arthur Avenue, Bronx, NY 10458
      View Details

    FAQs

    What type of property is this?
    Apartment building - Four-story, eight-unit apartment building in the Melrose neighborhood.
    Where is this apartment building located?
    The property is located at 318 E 160th St The Bronx, NY.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: Significant potential for future appreciation in the growing Bronx real estate market.; Stable rental income from 8 residential units.; Favorable R7‑2 zoning allows for residential development with **8,514 buildable square feet.**
    (201) 966-5918 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Mitchel Flaherty
    Mitchel Flaherty
    Real Estate License ID: NY
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    318 E 160th St, The Bronx, NY 10451
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!