2490 Tiebout Ave Bronx, NY 10458-5445

Property Details for 2490 Tiebout Ave

Year built

1914

Lot size

0.16 lot acres

Property size

24,125 SF

Zone code

C4-4

Property type

Apartment buildings

APN

03023-0012

APU

30230012

Description

This exceptional multifamily investment property, located at 2490 Tiebout Avenue in the Bronx, New York (zip code 10458), presents a compelling opportunity for discerning investors. The stabilized apartment building boasts 30 units, totaling 24,125 square feet, and commands a strong asking price of $4,000,000. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $330,446, translating to an attractive cap rate of 8.26%. The price per unit stands at $133,333.33, and the price per square foot is $165.80. Situated between East Fordham Road and East 188th Street in the Fordham neighborhood, this asset offers 65 feet of street frontage. The building is free and clear of any ground lease obligations. Financial highlights include a gross income of $553,692 and expenses of $242,054. This well-maintained property represents a solid investment with significant potential for future growth and strong cash flow. The property's location in a densely populated area ensures consistent rental demand. This is a rare opportunity to acquire a high-performing multifamily asset in a desirable Bronx neighborhood.