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    318 160Th St The Bronx, NY 10451

    Sponsored
    For Sale
    $1,200,000

    8-unit apartment building, strong NOI.

    Property size:
    6,060 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    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 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

    HighLights

    • #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).
    • #4 Transportation: Convenient access to the 4 train at 161st Street‑Yankee Stadium station.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    -73.9165097
    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).
    Request Owner's contact information
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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
    318 160Th St The Bronx, NY 10451
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