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Rosewall Gardens 2300 Sedgwick Ave 82 Unit Apartment Building $6,500,000 ($79,268/Unit) 7% Cap Rate Bronx, NY 10468
Executive Summary
The New York Multifamily Team at Marcus & Millichap is pleased to offer the following opportunity in the University Heights submarket of the Bronx. 2300 Sedgwick Avenue is an 82-unit elevator building that has been owned and operated by the same family office for over 40 years. The building is located right off West Fordham Road and spans 92,748 square feet. The property consists entirely of residential units and benefits from strong in-place occupancy, consistent cash flow, and long-term housing demand within a supply-constrained New York City submarket. 2300 Sedgwick Avenue is a short walk to the Fordham Road 4 train, nearby the Bronx Community College, James J. Peters VA Hospital, and right outside the University Heights Bridge, directly into Inwood.
2300 Sedgwick Avenue is projected to generate approximately $1.34 million in pro forma gross residential income and an estimated pro forma NOI of $468,376, representing an attractive 7.2% cap rate. Average monthly rent is approximately $1,366 per unit, supported by a diversified mix of one-, two-, and three-bedroom apartments. Sedgwick Avenue provides investors with a compelling opportunity to acquire a well-located Bronx multifamily property featuring stable residential tenancy, durable cash flow, and long-term appreciation potential in one of New York City’s strongest rental housing markets.
2300 Sedgwick Avenue is projected to generate approximately $1.34 million in pro forma gross residential income and an estimated pro forma NOI of $468,376, representing an attractive 7.2% cap rate. Average monthly rent is approximately $1,366 per unit, supported by a diversified mix of one-, two-, and three-bedroom apartments. Sedgwick Avenue provides investors with a compelling opportunity to acquire a well-located Bronx multifamily property featuring stable residential tenancy, durable cash flow, and long-term appreciation potential in one of New York City’s strongest rental housing markets.
Property Facts
| Price | $6,500,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $79,268 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.43 AC |
| Cap Rate | 7% | Building Size | 92,748 SF |
| Gross Rent Multiplier | 5 | No. Stories | 6 |
| No. Units | 82 | Year Built | 1927 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | R5 | ||
| Price | $6,500,000 |
| Price Per Unit | $79,268 |
| Sale Type | Investment |
| Cap Rate | 7% |
| Gross Rent Multiplier | 5 |
| No. Units | 82 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.43 AC |
| Building Size | 92,748 SF |
| No. Stories | 6 |
| Year Built | 1927 |
| Opportunity Zone |
Yes |
| Zoning | R5 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 80 | - | 708 |
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 03225-0148 | Improvements Assessment | $1,458,900 |
| Land Assessment | $213,300 | Total Assessment | $1,672,200 |
Property Taxes
Parcel Number
03225-0148
Land Assessment
$213,300
Improvements Assessment
$1,458,900
Total Assessment
$1,672,200
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Rosewall Gardens | 2300 Sedgwick Ave
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