1535 Westchester Ave The Bronx, NY 10472
- Retail residential properties
- 12,870 SF
- 0.09 lot acres
Current Use by Public Records
- New Garden Chinese Kitchen / Chinese Restaurant
- Benny's Automobile Driving School / Driving School
- DolEx Dollar Express / Money Transfer Service
- New Garden / Chinese Restaurant
Property Details for 1535 Westchester Ave
- Year built
- 1913
- Lot size
- 0.09 lot acres
- Property size
- 12,870 SF
- Zone code
- C4-2
- Property type
- Retail residential properties
- APN
- 03773-0003
- APU
- 37730003
Description
This exceptional mixed-use investment property, located at 1535 Westchester Avenue in the Bronx, New York (zip code 10472), presents a compelling opportunity for discerning investors. The building boasts a substantial 27,051 square feet and comprises 24 multi-family units, offering a strong foundation for consistent cash flow. With an asking price of $5,500,000, the property exhibits an attractive capitalization rate of 7.51%, generating a net operating income (NOI) of $413,059. The price per square foot is $203.32. Situated on a bustling section of Westchester Avenue, directly at the subway entrance, this property benefits from high visibility and excellent accessibility. The prime retail corridor location ensures high traffic and strong tenant demand. The building's high occupancy rate and steady cash flow contribute to its secure investment profile. Furthermore, the property offers significant potential for rental upside, making it an ideal long-term investment in a thriving neighborhood. This is a rare opportunity to acquire a well-positioned, high-performing multifamily asset in a rapidly developing area of the Bronx. The property's strong fundamentals and strategic location make it a compelling addition to any investment portfolio.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,035,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,885,000
- 6.5%
- $2,160,000
- 7%
- $1,925,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,135,000
- Geo Method
- $2,200,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,770,000
- Retail
- $2,035,000
- Mixed-Use
- $1,975,000
- Hospitality
- $2,175,000
- Educational
- $2,140,000
- Residential Income
- $2,105,000
- Energy
- $2,270,000
- Income-Based Land
- $2,170,000
- Food Service
- $2,155,000
Location Insight
- Map
- Local Demand
- City
- Bronx
- County
- Bronx
- State
- New York
- Longitude
- -73.8786
- Latitude
- 40.8289
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
