3174-90 Riverdale Ave The Bronx, NY 10463
- Mixed-use properties
- 45,838 SF
Current Use by Public Records
- Mixed-use properties
Property Details for 3174-90 Riverdale Ave
- Property size
- 45,838 SF
- Property type
- Mixed-use properties
- Property subtype
- Apartment buildings
Description
This exceptional mixed-use investment opportunity presents two adjacent, six-story buildings totaling 45,838 square feet on a 30,088 square foot lot in Riverdale, Bronx, NY. The property boasts 30 units (22 residential, 8 commercial) with 100% occupancy, generating a strong NOI of $917,392.43 and a 7.06% cap rate. The asking price is $12,999,000. Building amenities include private terraces, outdoor common seating, in-unit laundry, central heating and air conditioning, and ADA-compliant elevators. Each building features indoor parking (eight cars in one, five in the other). Residential units are predominantly two-bedroom, two-bathroom layouts, with some three-bedroom and one-bedroom units. Commercial spaces offer 150-200 amp breakers. The buildings benefit from substantial tax abatements: a 14-year abatement for one building and a 35-year abatement for the other, providing significant annual savings. Durable construction features include rubber roofs, brick and masonry exteriors, state-of-the-art sprinkler systems, backup pumps, and compactor rooms. The property enjoys a prime location with 213 feet of frontage on Riverdale Avenue and 214 feet on Irwin Avenue, close to excellent schools, shopping, dining, parks, and convenient transportation options including Metro-North and subway access. The zoning is R6. This is a rare opportunity to acquire a high-performing multifamily asset in a highly desirable location with significant long-term value potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- The Bronx
- County
- Bronx
- State
- New York
- Longitude
- -73.9085
- Latitude
- 40.8822
