2525 Morris Avenue — Sale in Bronx, NY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Bronx, NY 10468

Investment Figures

Cap rate
8.20%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to offer the following opportunity in Fordham. 2525 Morris Avenue is situated right off St. James Park on the corner of Morris Avenue and East190th Street. The building spans 56,455 square feet and comprises 58 residential units.This corner walk up building has been owned and operated by the same family for over20 years and shall consist of 1 studio, 19 one bedroom, 28 two-bedroom, 9 three-bedroom and one four-bedroom apartments. This offers investors a unique opportunity to acquire a legacy asset in a highly desirable submarket of North Bronx, with future rental upside from a $303,298 annual preferential rent delta between actual and DHCR registered rents. 2525 Morris Avenue is conveniently located a few steps from St. JamesPark, Monroe University, and the Fordham B & D Trains. Investment Highlights: • 2525 Morris Avenue is a 58-unit walk-up building comprised of 1 studio, 19 one-bedroom, 28two-bedroom, 9 three-bedroom and one four-bedroom apartments. • 8.2% Cap Rate | 4.4x GRM | $74,138 Per Unit | $76 Per Sqft • 2525 Morris Avenue is well located, close to St. James Park,Monroe University, and the Fordham B & D Trains.

Market Context

This multifamily in Bronx, NY is listed for sale. It is offered at an approximate 8.2% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 100 days. Compare it against other multifamily listings for sale in Bronx, NY — view the full market.

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