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1700 Zerega Ave
Bronx, NY 10462
1700 Zerega Avenue · Multifamily Property For Sale
·
2 Units
Investment Highlights
- Fully leased mixed-use property with stable income from retail and residential tenants.
- Annual rent escalations and potential seller financing available.
- Located in a high-density, transit-accessible Bronx neighborhood near major subway lines.
- Two on-site parking spaces generating supplemental income.
- Retail tenant under long-term lease with additional property maintenance responsibilities.
- Recent renovations and modern HVAC systems in apartments.
Executive Summary
1700 Zerega Avenue presents a fully occupied mixed-use investment opportunity in the Bronx’s Westchester Square neighborhood. The property consists of one ground-floor retail storefront and two large THREE-bedroom, TWO-bathroom apartments, each equipped with modern HVAC systems and separate metering for utilities. The apartments are free market and not subsidized or controlled.
The building also includes a basement, a balcony, and two parking spaces, that are rented and generate income, enhancing long-term value.
The retail tenant operates under a 10-year lease expiring in 2027, contributing stable income and assuming responsibilities such as partial property tax payments, water usage, and snow removal. Both residential units are leased to voucher-supported tenants, ensuring consistent rent collection. All leases include annual 3% rent escalations, and current gross income is supported by additional parking revenue.
Located in a dense, transit-rich area with a Walk Score of 88 and Transit Score of 90, the property benefits from proximity to major subway lines, highways, and local amenities. With excellent maintenance, recent renovations, and potential seller financing, this asset offers investors a strong in-place income stream and long-term appreciation potential in a thriving Bronx submarket. 16% cash on cash if you put 25% down. Fully leased property.
The building also includes a basement, a balcony, and two parking spaces, that are rented and generate income, enhancing long-term value.
The retail tenant operates under a 10-year lease expiring in 2027, contributing stable income and assuming responsibilities such as partial property tax payments, water usage, and snow removal. Both residential units are leased to voucher-supported tenants, ensuring consistent rent collection. All leases include annual 3% rent escalations, and current gross income is supported by additional parking revenue.
Located in a dense, transit-rich area with a Walk Score of 88 and Transit Score of 90, the property benefits from proximity to major subway lines, highways, and local amenities. With excellent maintenance, recent renovations, and potential seller financing, this asset offers investors a strong in-place income stream and long-term appreciation potential in a thriving Bronx submarket. 16% cash on cash if you put 25% down. Fully leased property.
Property Facts
| Price Per Unit | $687,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.04 AC |
| Cap Rate | 9.84% | Building Size | 3,513 SF |
| No. Units | 2 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1927/2017 |
| Property Subtype | Apartment | Parking Ratio | 0.57/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R6 - Medium Residential district | ||
| Price Per Unit | $687,500 |
| Sale Type | Investment |
| Cap Rate | 9.84% |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 3,513 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1927/2017 |
| Parking Ratio | 0.57/1,000 SF |
| Zoning | R6 - Medium Residential district |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+2 | 2 | - | - |
Property Taxes
| Parcel Number | 03995-0001 | Improvements Assessment | $21,974 |
| Land Assessment | $5,045 | Total Assessment | $27,019 |
Property Taxes
Parcel Number
03995-0001
Land Assessment
$5,045
Improvements Assessment
$21,974
Total Assessment
$27,019
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