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1398 and 1402 Clay Avenue 2 Multifamily Properties Offered at $3,800,000 in Bronx, NY
Investment Highlights
- 56 unit mixed-use buildings
- 38,390 gross square footage
- Less than a mile from BronxCare Health System on Grand Concourse
- 9.5% cap rate / ?3.89 GRM
- Located adjacent to Claremont Park, a 38-acre green space
Executive Summary
1398 & 1402 Clay Avenue are located in The Bronx, a rapidly evolving area benefiting from significant institutional and recreational anchors. Major employment hubs like the BronxCare Health System, located less than a mile away on the Grand Concourse, provide a deep and resilient pool of potential renters for the property. The asset is situated directly adjacent to Claremont Park, a 38-acre green space offering residents immediate access to swimming pools, sports courts, and playgrounds. This proximity to major healthcare employers and expansive lifestyle amenities makes the neighborhood a highly attractive and convenient alternative to Manhattan.
The surrounding area is witnessing strong demand from both residents and professionals. The property is conveniently located near the 167th Street station, serving the B and D subway lines, offering a direct and efficient commute to Midtown Manhattan. Tenant demand is further bolstered by the nearby Bronx Civic Center, located just 1.2 miles away, which serves as a major hub of judicial and municipal employment. Additionally, the property sits just 1.5 miles from Yankee Stadium and the bustling Grand Concourse corridor. These powerful demand drivers and excellent transit connectivity position 1398 Clay Avenue as a prime investment opportunity.
The surrounding area is witnessing strong demand from both residents and professionals. The property is conveniently located near the 167th Street station, serving the B and D subway lines, offering a direct and efficient commute to Midtown Manhattan. Tenant demand is further bolstered by the nearby Bronx Civic Center, located just 1.2 miles away, which serves as a major hub of judicial and municipal employment. Additionally, the property sits just 1.5 miles from Yankee Stadium and the bustling Grand Concourse corridor. These powerful demand drivers and excellent transit connectivity position 1398 Clay Avenue as a prime investment opportunity.
Property Facts
| Price | $3,800,000 | Number of Properties | 2 |
| Price / SF | $98.98 / SF | Individually For Sale | 0 |
| Cap Rate | 9.50% | Total Building Size | 38,390 SF |
| Sale Type | Investment | Total Land Area | 0.21 AC |
| Status | Active |
| Price | $3,800,000 |
| Price / SF | $98.98 / SF |
| Cap Rate | 9.50% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 38,390 SF |
| Total Land Area | 0.21 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 1402 Clay Ave, Bronx, NY 10456 | Multifamily | 21,800 SF | 1914 | - |
| 1398 Clay Ave, Bronx, NY 10456 | Multifamily | 16,590 SF | 1914 | - |
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Seth Glasser -
Michael Fusco -
Waleed Jalboukh -
Christopher Mehran -
Marcus & Millichap
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1398 and 1402 Clay Avenue
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