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    2408 Webster Ave The Bronx, NY 10458

    For Sale
    $3,800,000

    16-unit apartment buildings, high cap rate.

    Property size:
    18,573 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional investment opportunity presents a portfolio of two multifamily apartment buildings located at 2408 and 2420 Webster Avenue in the Belmont section of the Bronx, New York. The properties, situated between East 187th and East 188th Streets, boast a combined total of 16 units, offering a mix of free-market and rent-stabilized apartments. Each building, constructed in 1909, is a four-story structure with eight units apiece, totaling approximately 18,573 square feet. The buildings sit on a combined lot size of 7,885 square feet and offer substantial development potential with 27,124 square feet of available air rights. The property benefits from a highly desirable R7-1 zoning designation. This portfolio presents a compelling investment opportunity with a strong 9.88% capitalization rate and is conveniently located within walking distance of the B and D subway lines, providing excellent access to public transportation. The asking price for this exceptional multifamily portfolio is $3,800,000.

    Property Features for 2408 Webster Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    18,573 SF

    Building Details

    Year Built
    1909
    Buildings
    2
    Stories
    4
    Units
    16
    Property Profile Insight Report 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
    -73.893784934899
    Latitude
    40.859097989009

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    FAQs

    What type of property is this?
    Multifamily property - 16-unit apartment buildings, high cap rate.
    Where is this multifamily property located?
    The property is located at 2408 Webster Ave The Bronx, NY.
    What is the asking price?
    The asking price for this property is $3,800,000.
    Request Owner's contact information
    2408 Webster Ave The Bronx, NY 10458
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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
    2408 Webster Ave The Bronx, NY 10458
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