Investment Overview

THE OFFERING Marcus & Millichap is pleased to offer 1240 Stratford Avenue located in the Soundview submarket of the Bronx. Spanning 31,400 square feet, 1240 Stratford Avenue is situated between Westchester Avenue and East 172nd Street, right off the Bronx River Parkway. With an average rent of $1,298, thirteen of thirty-eight (35%) of units have preferential rents offering potential upside to experienced operators to capitalize on an ~43,000/year delta between actual collected and DHCR registered rents. 1240 Stratford a is located short walk from the Bronx River Parkway, main retail corridor on Westchester Avenue, P.S 195 School and is a short walk to access the Westchester Avenue 6, 4 & 5 subway lines. THE OPPORTUNITY The Building: 1240 Stratford Avenue located in the Soundview submarket of the Bronx. Spanning 31,400 square feet, 1240 Stratford Avenue is situated between Westchester Avenue and East 172nd Street, right off the Bronx River Parkway. Well Maintained & Preferential Rents: This meticulously maintained building has little to no deferred maintenance and offers an experienced operator the ability to reposition below market retail rents leading to future upside potential. 13 of 38 units have preferential rents with an additional ~43,000 delta between actual collected and legal DHCR rents. The Metrics: Asking an 8.3% cap rate or 6.5x GRM with a basis of $127,632 per unit? Prime Location: 1240 Stratford a is located short walk from the Bronx River Parkway, main retail corridor on Westchester Avenue, P.S 195 School and is a short walk to access the Westchester Avenue 6, 4 & 5 subway lines.