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937 Westchester Ave
Bronx, NY 10459
937 Westchester Ave & 971 Intervale Ave · Retail Property For Sale
Investment Highlights
- With a mix of residential and commercial units, this property offers diversified income streams and potential for increased cash flow.
- Zoning allows for substantial development potential, making it an attractive opportunity for investors looking to capitalize on the growing demand.
- The Bronx continues to experience strong demand for residential and commercial properties, presenting favorable market conditions for investors.
- Current rents present significant upside potential, providing investors with an opportunity to enhance cash flow through strategic leasing initiatives
- Near subway stops and surrounded by new developments, the property benefits from a high-demand location with access to amenities and transportation.
- This real estate investment opportunity in Foxhurst presents an exciting chance to acquire a property with strong income potential or development.
Executive Summary
Property Details:
• Address: 937 Westchester Ave & 971 Intervale Ave, Bronx, NY
• Type: Mixed-use walkup with adjacent commercial units
• Size: 9,500 sq ft
• Composition: 4 apartments (two 2-bedroom units and three 3-bedroom units) and 3 commercial units
• Tenancy: All tenants are currently on month-to-month leases, providing flexibility for potential rent increases or redevelopment plans
• Development Potential: Zoned for 26,396 BSF as of right and 36,835 BSF with facility bonus, offering significant development opportunities
• Proposed Plans: Ownership has proposed plans for a building with 65 units, demonstrating potential for substantial future growth
• Prime Location: Situated at the corner of Westchester Ave and Intervale Ave, this property benefits from high foot traffic and convenient access to transportation options, including the 2 and 5 train lines
Key Highlights:
• Diverse Income Streams: With a mix of residential and commercial units, this property offers diversified income streams and potential for increased cash flow.
• Upside Potential: Current rents present significant upside potential, providing investors with an opportunity to enhance cash flow through strategic leasing initiatives.
• Development Potential: Zoning allows for substantial development potential, making it an attractive opportunity for investors looking to capitalize on the growing demand for housing in the area.
• Prime Location: Located near subway stops and surrounded by new developments, the property benefits from a high-demand location with access to amenities and transportation options.
• Favorable Market Conditions: The Bronx continues to experience strong demand for residential and commercial properties, presenting favorable market conditions for investors.
• This real estate investment opportunity in Foxhurst presents an exciting chance to acquire a property with strong income potential, development opportunities, and a prime location in a rapidly evolving neighborhood.
• Address: 937 Westchester Ave & 971 Intervale Ave, Bronx, NY
• Type: Mixed-use walkup with adjacent commercial units
• Size: 9,500 sq ft
• Composition: 4 apartments (two 2-bedroom units and three 3-bedroom units) and 3 commercial units
• Tenancy: All tenants are currently on month-to-month leases, providing flexibility for potential rent increases or redevelopment plans
• Development Potential: Zoned for 26,396 BSF as of right and 36,835 BSF with facility bonus, offering significant development opportunities
• Proposed Plans: Ownership has proposed plans for a building with 65 units, demonstrating potential for substantial future growth
• Prime Location: Situated at the corner of Westchester Ave and Intervale Ave, this property benefits from high foot traffic and convenient access to transportation options, including the 2 and 5 train lines
Key Highlights:
• Diverse Income Streams: With a mix of residential and commercial units, this property offers diversified income streams and potential for increased cash flow.
• Upside Potential: Current rents present significant upside potential, providing investors with an opportunity to enhance cash flow through strategic leasing initiatives.
• Development Potential: Zoning allows for substantial development potential, making it an attractive opportunity for investors looking to capitalize on the growing demand for housing in the area.
• Prime Location: Located near subway stops and surrounded by new developments, the property benefits from a high-demand location with access to amenities and transportation options.
• Favorable Market Conditions: The Bronx continues to experience strong demand for residential and commercial properties, presenting favorable market conditions for investors.
• This real estate investment opportunity in Foxhurst presents an exciting chance to acquire a property with strong income potential, development opportunities, and a prime location in a rapidly evolving neighborhood.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
9,500 SF
Building Class
B
Year Built
1910
Price
$4,200,000
Price Per SF
$442.11
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.27
Lot Size
0.17 AC
Opportunity Zone
Yes
Zoning
R7-1 - Medium-density apartment house district with lower parking requirements
Frontage
25’ on Intervale Ave
Property Taxes
| Parcel Number | 02699-0058 | Improvements Assessment | $80,910 |
| Land Assessment | $18,000 | Total Assessment | $98,910 |
Property Taxes
Parcel Number
02699-0058
Land Assessment
$18,000
Improvements Assessment
$80,910
Total Assessment
$98,910
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