For Sale
  • For Sale
  • For Lease
  • Recently Sold
  • Property Lookup
  • Brokers
Back to Search
The Largest CRE Database in the US with Over 1 Million Listings

1643-1645 Popham Ave The Bronx, NY 10453

Loading data...
Loading data...
Loading data...
For Sale
Contact for pricing

18-Unit Bronx Apartment Building, High ROI

Property size:
15,224 SF

Property Features for 1643-1645 Popham Ave

General Information

Property type
Multifamily properties
Square Feet
15,224 SF

Building Details

Year Built
2016
Stories
8
Units
18

We can help!

Listing Contact
Jason Gold
Jason Gold

Listing Agency: Ariel Property Advisors Listing Agent: Jason Gold

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

Learn more


Overview

This exceptional multifamily investment opportunity presents two 4-story, 9-unit walk-up apartment buildings totaling 15,224 square feet, situated on a 5,000 square foot lot in the Morris Heights section of the Bronx, New York. Constructed in 2016, these buildings boast 18 one-bedroom units, each currently enjoying free-market status. The property benefits from a 2B tax classification, providing protection against future tax increases. An existing loan of $3,829,000 is in place at a favorable 3.79% interest rate, maturing in 2030. The asking price is $5,250,000, representing a compelling price per unit of $291,667 and a price per square foot of $345. The pro-forma cap rate is 8.78%. Significant upside potential exists upon lease turnover, with new subsidy payment standards potentially reaching $2,584 per month for one-bedroom apartments (tenants responsible for gas and electric). Conveniently located near the 4-train at Mount Eden Ave Station, providing easy access to public transportation. The property is zoned R7-1. This is a rare opportunity to acquire a well-maintained, high-performing multifamily asset in a rapidly developing area of The Bronx.
Property Profile Location Intelligence

Current Use by Public Records

Commercial real estate

Suggested Use

Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

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
-73.9211262
Latitude
40.8490348

FAQs

What type of property is this?
Multifamily property - 18-Unit Bronx Apartment Building, High ROI
Where is this multifamily property located?
The property is located at 1643-1645 Popham Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $5,250,000.
What are key features of this property?
This property features: Two 2016-built multifamily buildings in the Morris Heights section of the Bronx.; Two 4-story walk-up buildings totaling 15,224 square feet on a 5,000 square foot lot, each with nine one-bedroom units.; All 18 units are free-market.
(212) 544-9500 Call to check price and availability
More about this property
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Please enter message