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350-354 East 193rd Street 350 E 193rd St 14 Unit Apartment Building $1,890,000 ($135,000/Unit) 6.15% Cap Rate Bronx, NY 10458
Investment Highlights
- Fordham University & Transit Location
- Potential R6B/R7B Rezoning Upside *Preliminary discussions with land-use counsel indicate a potential pathway to R6B or R7B, subject to buyer verifica
- In-Place Income | $155,688 Reported Annual Gross
Executive Summary
Bronx Assemblage | Income + Development Upside | 8,658 SF Across Two Contiguous Lots
Rare opportunity to acquire two contiguous income-producing properties at 350 and 354 East 193rd Street, offered together for $1,890,000.
The offering comprises three residential units currently configured with 14 rentable rooms, three garage spaces, approximately 4,090 SF of existing building area and 8,658 SF of combined land.
Reported gross income is approximately $12,974 per month, or $155,688 annually, including garage income. Owner-reported operating expenses are approximately $34,200 annually, and 2026 real estate taxes are approximately $5,172 annually. Indicated NOI is approximately $116,316, producing an indicated cap rate of approximately 6.15%.
Current R4A zoning permits 1.0 FAR on standard zoning lots and up to 1.5 FAR for qualifying residential sites. Preliminary discussions with land-use counsel indicate a potential pathway to R6B or R7B, subject to buyer verification, professional zoning analysis, and all required governmental approvals.
Close proximity to Fordham University’s Rose Hill campus makes the property well positioned for student-oriented housing demand. The property is also convenient to Metro-North, the B/D and 4 subway lines, shopping and major Bronx corridors.
The properties are currently occupied and may be delivered vacant. Seller financing may be considered for qualified buyers.
**Featuring Some Enhanced photos
Rare opportunity to acquire two contiguous income-producing properties at 350 and 354 East 193rd Street, offered together for $1,890,000.
The offering comprises three residential units currently configured with 14 rentable rooms, three garage spaces, approximately 4,090 SF of existing building area and 8,658 SF of combined land.
Reported gross income is approximately $12,974 per month, or $155,688 annually, including garage income. Owner-reported operating expenses are approximately $34,200 annually, and 2026 real estate taxes are approximately $5,172 annually. Indicated NOI is approximately $116,316, producing an indicated cap rate of approximately 6.15%.
Current R4A zoning permits 1.0 FAR on standard zoning lots and up to 1.5 FAR for qualifying residential sites. Preliminary discussions with land-use counsel indicate a potential pathway to R6B or R7B, subject to buyer verification, professional zoning analysis, and all required governmental approvals.
Close proximity to Fordham University’s Rose Hill campus makes the property well positioned for student-oriented housing demand. The property is also convenient to Metro-North, the B/D and 4 subway lines, shopping and major Bronx corridors.
The properties are currently occupied and may be delivered vacant. Seller financing may be considered 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
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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 | $13,785 |
| Land Assessment | $3,025 | Total Assessment | $16,810 |
Property Taxes
Parcel Number
03275-0035
Land Assessment
$3,025
Improvements Assessment
$13,785
Total Assessment
$16,810
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Contact the Sale Advisor
350-354 East 193rd Street | 350 E 193rd St