For Sale
$4,700,000

2758 Cruger AveThe Bronx, NY 10467

53-Unit Apartment Building, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
114
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.

Highlights

  • Excellent location on the north side of Cruger Avenue, between Arnow and Allerton Avenues.
  • 53-unit building with a mix of 47 one-bedroom, 5 two-bedroom, and 1 three-bedroom apartments.
  • Six-story walk-up building offering 100 feet of frontage and approximately 48,800 gross square feet.
  • Desirable Bronx location near the New York Botanical Garden and Bronx Zoo.
  • Recently updated heating system; dual-fuel boiler with new burner and water tanks (2015/2016), new boiler (2023).
  • Professionally managed and well-maintained.

Property Details for 2758 Cruger Ave

Property type
Apartment buildings
Square Feet
48,800 SF
Stories
6
Units
53

Location Insight

City
The Bronx
County
Bronx
State
New York
Latitude
40.867536
Longitude
-73.8661186
2758 Cruger Ave, The Bronx, New York

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2758 Cruger Ave
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