514 188Th StThe Bronx, NY 10458

Property Details for 514 188Th St

Property size (Sq ft)

3,096 SF

Property type

Dormitories

Property subtype

Student housing

Description

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.

Location Insight

City

The Bronx

County

Bronx

State

New York

Latitude

40.8577

Longitude

-73.8896

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].