1860 Billingsley TerThe Bronx, NY 10453

Property Details for 1860 Billingsley Ter

Year built

1927

Lot size

0.29 AC

Property size (Sq ft)

64,614 SF

Zone code

R5

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

02879-0253

APU

28790253

Description

This exceptional 59-unit apartment building, located at 1860 Billingsley Terrace in the Morris Heights section of The Bronx, New York, presents a compelling investment opportunity. Built in 1927, this six-story building boasts 64,614 square feet on a 12,700 square foot lot. The property is zoned MF, allowing for multifamily use. Residents enjoy desirable amenities including hardwood floors and elevator access. The building's location offers stunning city skyline and park views, providing tenants with a high-quality living experience. Its convenient location is a significant advantage, with easy access to public transportation via the 4, B, and D subway lines, and proximity to major roadways such as I-87 and I-95. The asking price for this well-maintained property is $8,200,000. This represents a significant opportunity to acquire a substantial multifamily asset in a rapidly developing area of The Bronx, offering strong potential for future appreciation and rental income. The building's size and unit count provide excellent scale for an investor seeking a substantial portfolio addition. The combination of its classic architecture, modern amenities, and prime location makes 1860 Billingsley Terrace a truly remarkable investment prospect. The property's strong tenant base and established rental income stream further enhance its appeal. This is a rare opportunity to acquire a well-positioned multifamily asset in a thriving New York City neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $13,246,454

  6.5%

  $12,227,496

  7%

  $11,354,103

• Comparable approach

  Method

  Valuation

  Relative Method

  $13,085,821

  Geo Method

  $13,085,821

• Alternative Use

  Use

  Valuation

  Residential

  $12,227,496

  Hospitality

  $11,200,321

  Educational

  $9,318,535

  Medical

  $9,639,014

  Retail

  $14,495,499

Location Insight

City

Bronx

County

Bronx

State

New York

Latitude

40.8535

Longitude

-73.917

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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