1248 Castle Hill AveBronx, NY 10462

Property Details for 1248 Castle Hill Ave

Year built

1925

Lot size

0.04 AC

Property size (Sq ft)

3,600 SF

Zone code

R5

Property type

Investment properties

Property subtype

Live-work space

APN

03822-0010

APU

38220010

Description

This exceptional mixed-use property, located at 1248 Castle Hill Avenue in the Bronx, New York, presents a compelling investment opportunity. The 3,600 square foot building sits on a 0.04-acre lot and is currently configured as six units: three commercial and three residential. The commercial spaces are fully operational and occupied by established businesses. A prominent Guyanese roti restaurant serves as the anchor tenant, complemented by a thriving beauty salon and a security office catering to the local community. The residential units comprise two two-bedroom apartments and one one-bedroom apartment. This property is situated in the vibrant Castle Hill/Parkchester neighborhood, known for its high traffic volume and strong potential for growth. The asking price is $2,200,000, offering a potential 7.1% cap rate. This is a turnkey investment with immediate cash flow and significant upside potential. The property is currently without leases, allowing for immediate control and future rent adjustments. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $595,188

  6.5%

  $549,404

  7%

  $510,161

• Comparable approach

  Method

  Valuation

  Relative Method

  $470,376

  Geo Method

  $470,376

• Alternative Use

  Use

  Valuation

  Residential

  $681,261

  Hospitality

  $624,031

  Educational

  $519,187

  Medical

  $537,042

  Retail

  $807,624

Location Insight

City

Bronx

County

Bronx

State

New York

Latitude

40.8333

Longitude

-73.851

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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