3179 Rochambeau Ave The Bronx, NY 10467

Property Details for 3179 Rochambeau Ave

Year built

1929

Property size

5,500 SF

Property type

Commercial real estate

Description

This exceptional 5-unit apartment building, located at 3179 Rochambeau Avenue in the Bronx, NY 10467, presents a compelling investment opportunity. The property boasts a total of 5,500 square feet on a 5,000 square foot lot, with 3,780 square feet of net rentable space. Currently operating at 100% occupancy, the building comprises one three-bedroom unit and four other large units (two two-bedroom and two one-bedroom apartments). Built in 1929, this two-story Class C building is zoned R7B, offering significant development potential with over 15,000 square feet of allowed usable FAR. The asking price is $1,600,000, translating to $290.91 per square foot and $320,000 per unit. Additional features include a detached two-car garage, a long driveway, a backyard, and an on-site laundry room. The property's convenient location offers proximity to various transportation options, parks, schools, and Montefiore Hospital. The high ceilings in the attic present further expansion possibilities. While the building can maintain its current structure and generate an approximate 8% cap rate, the R7B zoning allows for substantial redevelopment opportunities. This property is ideal for both developers seeking expansion and investors looking for a strong return. Information is believed to be accurate but not warranted.