249 Willis Ave The Bronx, NY 10454

Property Details for 249 Willis Ave

Year built

1905

Property size

11,550 SF

Property type

Retail properties

Property subtype

Apartment buildings

Description

This exceptional 5-story mixed-use building at 249 Willis Avenue in the Mott Haven section of the Bronx presents a compelling investment opportunity. The 11,550 square foot property, built in 1905, boasts a prime corner location on a high-traffic retail corridor, offering excellent visibility and accessibility. The building comprises 18 residential apartments and one retail space, generating a strong net operating income (NOI) of $128,530. Its convenient location provides easy access to shopping, dining, and public transportation, including the nearby 3rd Avenue Station. The property sits on a 25' x 100' lot, with building dimensions of 25' x 96'. Zoned R6 and C1-4, this walk-up building offers significant potential for future development or value appreciation. The building's solid construction and consistent income stream make it an attractive asset for discerning investors seeking a stable and profitable investment in a rapidly developing neighborhood. The property's strong cash flow, combined with its strategic location and flexible zoning, positions it for long-term growth and success. This is a rare opportunity to acquire a well-maintained, income-producing property in a thriving Bronx neighborhood. Block and lot information is 02301/0023.