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350-354 East 193rd Street 350 E 193rd St 14 Unit Apartment Building $2,100,000 ($150,000/Unit) 4.55% Cap Rate Bronx, NY 10458
Investment Highlights
- High-Demand Location
- 8811 square foot lot with R4A Zoning!
- Turnkey Cash Flow
Executive Summary
Bronx Assemblage | Income + Development Upside | 8,811 SF Lot
Rare opportunity to acquire two contiguous income-producing properties at 350 & 354 East 193rd Street, Bronx, NY.
The offering consists of a combined 8,811 SF across two adjoining lots with R4A zoning (0.75 FAR), providing approximately ±6,600 buildable SF as-of-right. Preliminary discussions with land use counsel indicate a viable pathway to rezoning to R6B or R7B, offering significant long-term development potential.
The property is currently configured as a rent-by-room income model across both buildings, generating strong in-place cash flow.
Income Snapshot:
Current Rent Roll (August 2025): $12,974/month (including garage)
Annual Gross Income: ~ $155,700
NOI: ~ $95,700
Cap Rate: ~4.6%
Expenses are owner-reported and include utilities and insurance; excludes management, vacancy, and capital reserves.
Property Breakdown:
350 E 193rd St: ~2,025 SF building on 3,658 SF lot (6 rooms)
354 E 193rd St: ~2,065 SF building on 5,000 SF lot (8 rooms)
Total: 14 rentable rooms + 3 garage spaces ($750/month)
Highlights:
Rare two-lot assemblage
In-place cash flow with upside
As-of-right development potential
Rezoning pathway for higher-density residential (buyer to verify)
Proximate to Fordham University, Metro-North, B/D and 4 trains
Properties can be delivered vacant
Offering Price: $2,100,000
Seller is open to structuring owner financing for qualified buyers.
**Featuring Some Enhanced photos
Rare opportunity to acquire two contiguous income-producing properties at 350 & 354 East 193rd Street, Bronx, NY.
The offering consists of a combined 8,811 SF across two adjoining lots with R4A zoning (0.75 FAR), providing approximately ±6,600 buildable SF as-of-right. Preliminary discussions with land use counsel indicate a viable pathway to rezoning to R6B or R7B, offering significant long-term development potential.
The property is currently configured as a rent-by-room income model across both buildings, generating strong in-place cash flow.
Income Snapshot:
Current Rent Roll (August 2025): $12,974/month (including garage)
Annual Gross Income: ~ $155,700
NOI: ~ $95,700
Cap Rate: ~4.6%
Expenses are owner-reported and include utilities and insurance; excludes management, vacancy, and capital reserves.
Property Breakdown:
350 E 193rd St: ~2,025 SF building on 3,658 SF lot (6 rooms)
354 E 193rd St: ~2,065 SF building on 5,000 SF lot (8 rooms)
Total: 14 rentable rooms + 3 garage spaces ($750/month)
Highlights:
Rare two-lot assemblage
In-place cash flow with upside
As-of-right development potential
Rezoning pathway for higher-density residential (buyer to verify)
Proximate to Fordham University, Metro-North, B/D and 4 trains
Properties can be delivered vacant
Offering Price: $2,100,000
Seller is open to structuring owner financing for qualified buyers.
**Featuring Some Enhanced photos
Property Facts
Amenities
Unit Amenities
- Heating
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
1 1
Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 03275-0035 | Improvements Assessment | $14,095 |
| Land Assessment | $2,705 | Total Assessment | $16,800 |
Property Taxes
Parcel Number
03275-0035
Land Assessment
$2,705
Improvements Assessment
$14,095
Total Assessment
$16,800
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350-354 East 193rd Street | 350 E 193rd St
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