350-354 East 193rd Street 350 E 193rd St 14 Unit Apartment Building $2,100,000 ($150,000/Unit) 5.80% Cap Rate Bronx, NY 10458

350 & 354 East 193rd Street – Fordham, Bronx
Asking Price: $2,100,000
Configuration: Two adjoining income-producing properties
Zoning: R4A
Income Snapshot
Gross Monthly Income (Aug 2025): $12,974 (rooms + garage)
Annualized Gross Income: ˜ $155,700
Operating Expenses: ˜ $2,850/month (water, sewer, electricity, gas, insurance)
Net Operating Income (NOI): ˜ $7,974/month | ˜ $95,700/year
Cap Rate: ~5.8%
Property Details
350 East 193rd Street
2½-story single-family home
Approx. 2,025 sq ft residence on a 3,658 sq ft lot
6 rentable rooms
354 East 193rd Street
2-family, 2½-story residence
Approx. 2,065 sq ft residence on a 5,000 sq ft lot
8 rentable rooms
Combined, these properties encompass 8,658 sq ft of land—an unusually large footprint for this dense Fordham neighborhood.
Investment Highlights
Land Value & Scarcity: Together, the two parcels total nearly 0.2 acres, and there are no comparable development-size lots within a one-mile radius, underscoring their intrinsic land value and future redevelopment potential.
Turnkey Cash Flow: Proven rent-by-room model with steady occupancy delivers immediate income.
Additional Revenue: Three garage spaces earn $750/month.
High-Demand Location: Minutes to Fordham University, major shopping corridors, dining, and multiple subway and bus lines.
Future Upside: Renovate interiors, adjust room rents, or explore alternative residential configurations permitted under R4A zoning.
Summary
Offered together for $2,100,000, 350 & 354 East 193rd Street represent a rare opportunity to acquire two contiguous income properties on nearly 8,700 sq ft of land in the heart of the Bronx. With gross monthly revenue approaching $13,000 and an NOI near $96,000, investors gain both immediate cash flow and exceptional long-term land value in one of New York City’s most supply-constrained submarkets.