1776 Castle Hl Ave Bronx, NY 10462-4236

Property Details for 1776 Castle Hl Ave

Year built

1936

Lot size

0.45 lot acres

Property size

78,000 SF

Zone code

R6

Property type

Apartment buildings

APN

03998-0010

APU

39980010

Description

This exceptional 83-unit apartment building, located at 1776 Castle Hill Avenue in the Bronx, NY (zip code 10462), presents a compelling investment opportunity. The property boasts 78,000 square feet and is offered at $8,100,000, translating to $103.85 per square foot and $97,590 per unit. The unit mix comprises 15 studios, 54 one-bedroom, 13 two-bedroom, and 1 three-bedroom apartment, generating an average monthly rent of $1,337. This well-maintained elevator building has been under the same family ownership for over 30 years, representing a rare opportunity for generational ownership transition. Adding to the property's strong financial performance are two cellular roof antennas with active leases, providing an additional $46,536 in annual cash flow from T-Mobile and Airwave Strategies. The building's prime location offers convenient access to Westchester Square Medical Center and the Zerega Avenue 6 train line, enhancing its appeal to tenants. Detailed financial information, including cap rate and GRM, is available upon request. This is a unique chance to acquire a stable, high-performing multifamily asset in a desirable Bronx submarket. The property's strong tenant base, consistent rental income, and supplemental income streams from the cellular antennas make it an attractive investment for discerning buyers. The building's size and unit mix provide excellent diversification and potential for future value appreciation. Further details are available in the offering memorandum.