318 160Th St The Bronx, NY 10451
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8-unit apartment building, strong NOI.
Property size:
6,060 SFProperty Features for 318 160Th St
General Information
- Property type
- Multifamily properties
- Square Feet
- 6,060 SF
- Class
- C
Building Details
- Year Built
- 1931
- Buildings
- 1
- Stories
- 4
- Units
- 8
Listing Agency: Ripco Real Estate Listing Agent: Mitchel Flaherty
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional investment opportunity presents a well-maintained, 8-unit apartment building located at 318 E 160th Street in the Melrose neighborhood of the Bronx, New York. The property, built in 1931, boasts 6,060 square feet across four stories in a walk-up configuration. Currently generating a Net Operating Income (NOI) of $82,837, resulting in a 7.00% capitalization rate, this property offers a compelling return on investment. The asking price is $1,200,000, translating to $150,000 per unit and $198.02 per square foot. The building sits on a 2,475 square foot lot and is zoned R7-2, allowing for significant potential future development. This zoning permits residential development with a Floor Area Ratio (FAR) of 3.44, yielding 8,514 buildable square feet, and also allows for Community Facility development with an FAR of 6.5, resulting in 16,088 buildable square feet. The property's prime location offers convenient access to public transportation, including proximity to the 161st Street-Yankee Stadium station (4 train), connecting residents to other parts of the Bronx and Manhattan. The vibrant Melrose neighborhood provides residents with nearby shopping, dining, and other amenities. This property is an ideal investment for those seeking stable rental income and future appreciation potential within a rapidly growing area. The building's dimensions are approximately 25' x 65'.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Commercial real estate
Location Insight
- Map
- Local Demand
- City
- The Bronx
- County
- Bronx
- State
- New York
- Longitude
- -73.9165097
- Latitude
- 40.8241456
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FAQs
What type of property is this?
Multifamily property - 8-unit apartment building, strong NOI.
Where is this multifamily property located?
The property is located at 318 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: #1 Location: Rapidly growing Melrose neighborhood, Bronx, NY.; #2 Investment Opportunity: 8-unit, 6,060 sq ft, 4-story walk-up apartment building with $82,837 NOI and 7% cap rate. Asking price: $1,200,000.; #3 Lot Size: 2,475 sq ft lot (25' x 65' building).