514 188Th St The Bronx, NY 10458

This exceptional investment opportunity presents a fully leased, three-unit student housing property located at 514 E 188th St, The Bronx, NY 10458. The property, boasting 3,096 square feet, underwent a complete gut renovation in 2024, resulting in a modern and attractive building. The units consist of one three-bedroom, two-bathroom apartment and two four-bedroom, two-bathroom apartments, each equipped with an in-unit washer and dryer. Currently enjoying 100% occupancy with leases to Fordham University students, this stabilized investment offers a compelling 6.98% cap rate and a strong net operating income (NOI) of $134,302. Situated in Belmont, Bronx, the property benefits from its proximity to Fordham University and Bronx Little Italy, providing convenient access to amenities and a high demand for student housing. The building's location also offers easy access to public transportation, including the B, D, and 4 subway lines, and the Metro North train at Fordham. Zoned R6, this property presents a rare opportunity to acquire a high-performing, fully renovated student housing complex with significant upside potential. The asking price is $1,925,000, translating to $621.77 per square foot and $641,666.67 per unit. This is a turnkey investment ready for immediate income generation.