2235 Bassford AveThe Bronx, NY 10457

Property Details for 2235 Bassford Ave

Year built

1925

Lot size

0.13 AC

Property size (Sq ft)

28,000 SF

Zone code

R6A

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

03050-0008

APU

30500008

Description

This exceptional five-story, 32-unit apartment building at 2235 Bassford Avenue in the Belmont section of The Bronx, New York, presents a compelling investment opportunity. Boasting 28,000 square feet on a substantial 5.592-acre lot, this double corner property commands an asking price of $3,250,000, translating to $116 per square foot and $101,563 per unit. The building features a mix of unit sizes: 17 one-bedrooms, 11 two-bedrooms, 3 three-bedrooms, and 1 four-bedroom unit. Its strategic location offers easy access to Little Italy, St. Barnabas Hospital, Fordham University, and the vibrant commercial district along E Fordham Road. Residents benefit from proximity to abundant transportation options, including the B and D subway lines and the Metro North Fordham Station, all within a 10-minute walk. The property is zoned R6A and currently benefits from J-51 tax benefits, set to expire in 2029. This presents a rare chance to acquire a well-positioned multifamily asset with a strong 11.25% cap rate in a rapidly developing area of The Bronx. The property's size, unit mix, and location combine to create a significant income-generating opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $5,740,253

  6.5%

  $5,298,695

  7%

  $4,920,217

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,670,644

  Geo Method

  $5,670,644

• Alternative Use

  Use

  Valuation

  Residential

  $5,298,695

  Hospitality

  $4,853,576

  Educational

  $4,038,118

  Medical

  $4,176,996

  Retail

  $6,281,518

Location Insight

City

Bronx

County

Bronx

State

New York

Latitude

40.8539

Longitude

-73.8937

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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