2758 Cruger Ave Bronx, NY 10467-8242

Property Details for 2758 Cruger Ave

Year built

1928

Lot size

0.23 lot acres

Property size

48,800 SF

Zone code

R6

Property type

Apartment buildings

APN

04510-0028

APU

45100028

Description

This exceptional six-story walk-up apartment building at 2758 Cruger Avenue in the Bronx, NY, presents a compelling investment opportunity. Boasting 53 units – 47 one-bedrooms, five two-bedrooms, and one three-bedroom – the property encompasses approximately 48,800 gross square feet on a 10,000 square foot lot. Situated on Cruger Avenue between Arnow and Allerton Avenues, this building benefits from 100 feet of frontage and a prime location near the New York Botanical Garden and the Bronx Zoo. The property is conveniently located near the 2 and 5 train lines and surrounded by numerous national retailers including Bank of America, CVS, Walgreens, and McDonald's. The building's heating system has undergone significant upgrades, including a dual-fuel boiler conversion with new burner and water tanks (2015/2016) and a new boiler installed in 2023. Professionally managed and maintained in excellent condition, this property offers a strong NOI of $267,486, resulting in a 5.66% cap rate. Currently priced at $4,700,000 ($96/sq ft and $88,679/unit), 28% of units are operating on preferential rents, presenting significant upside potential. The property is zoned R6.