2248 Bassford Ave Bronx, NY 10457-1421
- Apartment buildings
- 8,820 SF
- 0.06 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 2248 Bassford Ave
- Year built
- 1910
- Lot size
- 0.06 lot acres
- Property size
- 8,820 SF
- Zone code
- R6A
- Property type
- Apartment buildings
- APN
- 03050-0098
- APU
- 30500098
Description
This well-maintained eight-unit apartment building in the Belmont section of the Bronx offers a compelling investment opportunity. Boasting 8,820 square feet on a 2,578 square foot lot, the property features a mix of three- and four-bedroom apartments, providing substantial rental income. Built in 1910 and situated in a desirable location near Saint Barnabas Hospital, Fordham University, and the B, D, and 4 subway lines, this four-story building presents excellent accessibility. Significant improvements have been made over the years, including new gas main risers, dual boilers (gas/oil), upgraded electrical service with individual meters, a new front entry door, an intercom system, and a 24-hour video security system. Most apartments have been renovated during vacancy turnovers. The building's strong cash flow, with a gross annual income of $189,887 and expenses of $67,134, results in a net annual income of $117,265. The property is zoned R6A and offers a basement workshop/storage area and boiler room. This is a rare opportunity to acquire a high-performing multifamily property with a 6.9% cap rate and a price per unit of $212,500. The asking price is $1,700,000, negotiable. The property's size, location, and recent upgrades make it an attractive investment for discerning buyers.
Value Estimations
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Bronx
- County
- Bronx
- State
- New York
- Longitude
- -73.893
- Latitude
- 40.854
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
