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    1535 Westchester Ave The Bronx, NY 10472

    Sponsored
    For Sale
    $5,500,000

    High-yield Bronx apartment building, 24 units.

    Property size:
    27,051 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional mixed-use investment property, located at 1535 Westchester Avenue in the Bronx, New York (zip code 10472), presents a compelling opportunity for discerning investors. The building boasts a substantial 27,051 square feet and comprises 24 multi-family units, offering a strong foundation for consistent cash flow. With an asking price of $5,500,000, the property exhibits an attractive capitalization rate of 7.51%, generating a net operating income (NOI) of $413,059. The price per square foot is $203.32. Situated on a bustling section of Westchester Avenue, directly at the subway entrance, this property benefits from high visibility and excellent accessibility. The prime retail corridor location ensures high traffic and strong tenant demand. The building's high occupancy rate and steady cash flow contribute to its secure investment profile. Furthermore, the property offers significant potential for rental upside, making it an ideal long-term investment in a thriving neighborhood. This is a rare opportunity to acquire a well-positioned, high-performing multifamily asset in a rapidly developing area of the Bronx. The property's strong fundamentals and strategic location make it a compelling addition to any investment portfolio.

    Property Features for 1535 Westchester Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    27,051 SF

    Building Details

    Units
    24

    HighLights

    • High‑traffic retail location on Westchester Ave, directly at the subway entrance.
    • High occupancy rates.
    • Secure investment with steady cash flow.
    • Significant rental upside potential.
    • Excellent visibility and accessibility.
    Property Profile Location Intelligence

    Current Use by Public Records

    New Garden Chinese ... Chinese Restaurant Benny's Automobile Driving ... Driving School DolEx Dollar Express Money Transfer Service New Garden Chinese Restaurant

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    The Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.8786371
    Latitude
    40.8288639

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    FAQs

    What type of property is this?
    Multifamily property - High-yield Bronx apartment building, 24 units.
    Where is this multifamily property located?
    The property is located at 1535 Westchester Ave The 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: High-traffic retail location on Westchester Ave, directly at the subway entrance.; High occupancy rates.; Secure investment with steady cash flow.
    Request Owner's contact information
    1535 Westchester Ave The Bronx, NY 10472
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    The Bronx, NY 10472
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    Realmo Value Estimation

    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.

    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.

    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
    1535 Westchester Ave The Bronx, NY 10472
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