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1950 Cross Bronx Expy 55 Unit Apartment Building $4,495,000 ($81,727/Unit) 9.70% Cap Rate Bronx, NY 10472
Investment Highlights
- Strategic location with immediate access to the Cross Bronx Expressway and exceptional public transit options for commuter convenience.
- Positioned in the Soundview neighborhood, a well-established area with strong demand for rental housing and proximity to major city thoroughfares.
Executive Summary
1988 Newbold Avenue, Bronx, NY 10472 AKA 1950 Cross Bronx Expy, Bronx, NY 10472
ELEVATOR APARTMENT BUILDING FOR SALE
-52 APARTMENTS AND 3 STORES
-ARTICLE XI UNTIL 2063 / 9.7% CAP
Six-story elevator apartment building located on the southeast corner of Newbold Avenue and the Cross Bronx Expressway in the Soundview section of the Bronx. Built in 1929 and renovated in 2008, the property features solar panels on the roof and benefits from a new Article 11 tax exemption. Well-maintained with strong long-term upside, this asset offers investors stable cash flow, reduced operating expenses, and valuable tax advantages in one of the Bronx's most established multifamily neighborhoods.
ELEVATOR APARTMENT BUILDING FOR SALE
-52 APARTMENTS AND 3 STORES
-ARTICLE XI UNTIL 2063 / 9.7% CAP
Six-story elevator apartment building located on the southeast corner of Newbold Avenue and the Cross Bronx Expressway in the Soundview section of the Bronx. Built in 1929 and renovated in 2008, the property features solar panels on the roof and benefits from a new Article 11 tax exemption. Well-maintained with strong long-term upside, this asset offers investors stable cash flow, reduced operating expenses, and valuable tax advantages in one of the Bronx's most established multifamily neighborhoods.
Property Facts
| Price | $4,495,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $81,727 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.27 AC |
| Cap Rate | 9.70% | Building Size | 43,794 SF |
| No. Units | 55 | No. Stories | 6 |
| Property Type | Multifamily | Year Built/Renovated | 1929/2008 |
| Property Subtype | Apartment | ||
| Zoning | R6 - Medium density residential district | ||
| Price | $4,495,000 |
| Price Per Unit | $81,727 |
| Sale Type | Investment |
| Cap Rate | 9.70% |
| No. Units | 55 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.27 AC |
| Building Size | 43,794 SF |
| No. Stories | 6 |
| Year Built/Renovated | 1929/2008 |
| Zoning | R6 - Medium density residential district |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 55 | - | - |
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 03794-0034 | Improvements Assessment | $785,250 |
| Land Assessment | $129,600 | Total Assessment | $914,850 |
Property Taxes
Parcel Number
03794-0034
Land Assessment
$129,600
Improvements Assessment
$785,250
Total Assessment
$914,850
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Contact the Sale Advisor
1950 Cross Bronx Expy