1535 Westchester AveThe Bronx, NY 10472

Property Details for 1535 Westchester Ave

Year built

1913

Lot size

0.09 AC

Property size (Sq ft)

12,870 SF

Zone code

C4-2

Property type

Mixed-use properties

Property subtype

Retail residential properties

APN

03773-0003

APU

37730003

Description

This exceptional mixed-use investment property, located at 1535 Westchester Avenue in the Bronx, New York (zip code 10472), presents a compelling opportunity for discerning investors. The building boasts a substantial 27,051 square feet and comprises 24 multi-family units, offering a strong foundation for consistent cash flow. With an asking price of $5,500,000, the property exhibits an attractive capitalization rate of 7.51%, generating a net operating income (NOI) of $413,059. The price per square foot is $203.32. Situated on a bustling section of Westchester Avenue, directly at the subway entrance, this property benefits from high visibility and excellent accessibility. The prime retail corridor location ensures high traffic and strong tenant demand. The building's high occupancy rate and steady cash flow contribute to its secure investment profile. Furthermore, the property offers significant potential for rental upside, making it an ideal long-term investment in a thriving neighborhood. This is a rare opportunity to acquire a well-positioned, high-performing multifamily asset in a rapidly developing area of the Bronx. The property's strong fundamentals and strategic location make it a compelling addition to any investment portfolio.

• CAP approach

  CAP return

  Valuation

  6%

  $2,638,466

  6.5%

  $2,435,508

  7%

  $2,261,542

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,606,471

  Geo Method

  $2,606,471

• Alternative Use

  Use

  Valuation

  Residential

  $2,435,508

  Hospitality

  $2,230,912

  Educational

  $1,856,092

  Medical

  $1,919,926

  Retail

  $2,887,255

Location Insight

City

Bronx

County

Bronx

State

New York

Latitude

40.8289

Longitude

-73.8786

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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