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Multifamily

1964 Grand Concourse

1964 Grand Concourse, The Bronx, NY 10457

Listing Price: $5,000,000

Cap Rate
6.40%
Number of Units
40
GRM
9.37
Price/Unit
$125,000
Price/Gross SF
$156.25
Gross SF
32,000

Investment Overview

THE OFFERING

New York Multifamily is pleased to offer the following opportunity on one of the most sought-after streets in the Bronx. 1964 Grand Concourse is a corner, mixed-use elevator building composed of 35 residential units and 5 commercial stores. Spanning 32,000 square feet, 1964 Grand Concourse is composed of 1 studio, 19 one-bed, 15 two-bedroom apartments along with 5 commercial retail spaces with access to major foot traffic. Meticulously maintained and proudly owned by the same family for almost four decades, the building is located right off of East 179th Street in Mount Hope. Conveniently located, this property is just steps away from the Tremont Ave D, B & Burnside Avenue 4 trains.

THE OPPORTUNITY

The Building: Corner elevator building comprised of 19 one-bedroom, 15 two-bedroom, and 1 studio apartments. *Its to be noted that the current ICARD only shows approval for 38 residential apartments*
Generational Ownership: Owned and operated by the same family since 1985, this is the first time 1964 Grand Concourse is being offered for sale.
The Metrics: Asking $125,000/unit l 6.3% Cap Rate l 7.6x GRM
Convenient Location: This property is just steps away from the Tremont Ave B & D / Burnside Ave 4 trains and is on one of the most sought-after street in the Bronx, The Grand Concourse.

Investment Highlights

  • The Building: Corner elevator building comprised of 19 one-bedroom, 15 two-bedroom, and 1 studio apartments. *Its to be noted that the current ICARD only shows approval for 38 residential apartments*
  • Generational Ownership: Owned and operated by the same family since 1985, this is the first time 1964 Grand Concourse is being offered for sale.
  • The Metrics: Asking $125,000/unit l 6.3% Cap Rate l 7.6x GRM

Exclusively Listed By

Financing By

Multifamily

1964 Grand Concourse

Listing Price: $5,000,000

Cap Rate
6.40%
Number of Units
40
GRM
9.37
Price/Unit
$125,000
Price/Gross SF
$156.25
Gross SF
32,000

Investment Highlights

  • The Building: Corner elevator building comprised of 19 one-bedroom, 15 two-bedroom, and 1 studio apartments. *Its to be noted that the current ICARD only shows approval for 38 residential apartments*
  • Generational Ownership: Owned and operated by the same family since 1985, this is the first time 1964 Grand Concourse is being offered for sale.
  • The Metrics: Asking $125,000/unit l 6.3% Cap Rate l 7.6x GRM

Investment Overview

THE OFFERING New York Multifamily is pleased to offer the following opportunity on one of the most sought-after streets in the Bronx. 1964 Grand Concourse is a corner, mixed-use elevator building composed of 35 residential units and 5 commercial stores. Spanning 32,000 square feet, 1964 Grand Concourse is composed of 1 studio, 19 one-bed, 15 two-bedroom apartments along with 5 commercial retail spaces with access to major foot traffic. Meticulously maintained and proudly owned by the same family for almost four decades, the building is located right off of East 179th Street in Mount Hope. Conveniently located, this property is just steps away from the Tremont Ave D, B & Burnside Avenue 4 trains. THE OPPORTUNITY The Building: Corner elevator building comprised of 19 one-bedroom, 15 two-bedroom, and 1 studio apartments. *Its to be noted that the current ICARD only shows approval for 38 residential apartments* Generational Ownership: Owned and operated by the same family since 1985, this is the first time 1964 Grand Concourse is being offered for sale. The Metrics: Asking $125,000/unit l 6.3% Cap Rate l 7.6x GRM Convenient Location: This property is just steps away from the Tremont Ave B & D / Burnside Ave 4 trains and is on one of the most sought-after street in the Bronx, The Grand Concourse.

Exclusively Listed By

Financing By

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