253 Kingsbridge Rd Bronx, NY 10458

This exceptional investment opportunity presents a well-maintained, five-story pre-war apartment building located at 253 E Kingsbridge Road in the Fordham/East Kingsbridge section of the Bronx, New York. The property boasts 11 rent-stabilized units totaling 18,048 square feet of net rentable space, currently operating at 100% occupancy as of July 17, 2024. Built in 1913, this Class C multifamily building offers a compelling stabilized investment with a strong net operating income (NOI) of $141,883, resulting in a 6.45% cap rate. The asking price is $2,200,000, translating to $200,000 per unit and $121.90 per square foot. The property sits on a 3,875 square foot lot and features an additional 5,270 square feet of air rights, presenting potential for future expansion or development. Its prime location within a major retail shopping area provides excellent tenant demand and convenient access to transportation, approximately 30 minutes from New York City. This is a rare opportunity to acquire a stable, cash-flowing asset in a thriving Bronx neighborhood. The building's solid history and current performance make it an attractive investment for both seasoned and emerging real estate investors seeking strong returns in a desirable location.