220 Miriam St Bronx, NY 10458-3206

Property Details for 220 Miriam St

Year built

1923

Lot size

0.30 lot acres

Property size

54,200 SF

Zone code

R8

Property type

Retail residential properties

APN

03304-0185

APU

33040185

Description

This exceptional 52-unit apartment building presents a compelling investment opportunity in the desirable Bedford Park neighborhood of the Bronx, New York. The property, located at 220 Miriam Street, boasts a substantial 54,200 square feet and features a mix of apartment sizes: 20 one-bedroom, 23 two-bedroom, 8 three-bedroom, and 1 four-bedroom units. Built in 1923, this five-story walk-up building sits on a prominent corner lot with 105 feet of frontage, offering excellent visibility and accessibility. The property enjoys a strong location, within easy reach of Fordham University, Lehman College, St. James Park, and the Kingsbridge Road train station, ensuring consistent tenant demand. With a current Net Operating Income (NOI) of $273,000, the building offers a 6.0% cap rate at an asking price of $4,550,000. This translates to a low basis of $87,500 per unit and $84 per square foot. The property is zoned R8, providing potential for future development or expansion. This well-maintained building has been under the same ownership for over 35 years, demonstrating its stability and potential for long-term growth. This is a rare opportunity to acquire a well-positioned, income-producing asset in a thriving Bronx neighborhood. The building's strong tenant base and prime location make it an attractive investment for both seasoned and new investors seeking a stable and high-return property.