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Arena Bronx MF Portfolio 6 Multifamily Properties Offered at $25,995,000 in Bronx, NY
INVESTMENT HIGHLIGHTS
- A critical mass of over 300 rental units ina 3 block radius
- AVERAGE APARTMENT RENTS @ $1,596 PER UNIT AND $457/RM
- Bronx apartments with rooftop solar panels, recently upgraded boilers and elevators
EXECUTIVE SUMMARY
***108 Field Place is 2338 Morris Avenue***
THE ARENA BRONX PORTFOLIO - Team Lala of RM Friedland is pleased to present the opportunity to acquire a six-building multifamily portfolio located along Creston Avenue and Morris Avenue between Burnside Avenue and Field Place in the Bronx. The subject portfolio consists of 303 residential apartments distributed across six buildings situated within a concentrated three-block radius. In select buildings recent capital expenditure includes the installation of new boilers and new elevators. These impressive pre-war buildings feature street frontages ranging from 67 feet to 132 feet. The portfolio includes a mix of elevator and walk-ups, providing scale and operational efficiency. All six buildings are equipped with rooftop solar panel systems that have been utilized to nearly eliminate common-area electricity costs. The portfolio is centrally positioned between four MTA subway stations located along the Grand Concourse and Jerome Avenue corridors, providing residents with multiple transit options and strong connectivity throughout the Bronx and into Manhattan.
Many of the neighborhood amenities serving the properties are concentrated within established shopping corridors along Burnside Avenue and Jerome Avenue, where residents have convenient access to everyday retail, grocery options, pharmacies, dining establishments, and essential services. This combination of transit accessibility and concentrated retail infrastructure supports consistent tenant demand across all six buildings.
THE ARENA BRONX PORTFOLIO - Team Lala of RM Friedland is pleased to present the opportunity to acquire a six-building multifamily portfolio located along Creston Avenue and Morris Avenue between Burnside Avenue and Field Place in the Bronx. The subject portfolio consists of 303 residential apartments distributed across six buildings situated within a concentrated three-block radius. In select buildings recent capital expenditure includes the installation of new boilers and new elevators. These impressive pre-war buildings feature street frontages ranging from 67 feet to 132 feet. The portfolio includes a mix of elevator and walk-ups, providing scale and operational efficiency. All six buildings are equipped with rooftop solar panel systems that have been utilized to nearly eliminate common-area electricity costs. The portfolio is centrally positioned between four MTA subway stations located along the Grand Concourse and Jerome Avenue corridors, providing residents with multiple transit options and strong connectivity throughout the Bronx and into Manhattan.
Many of the neighborhood amenities serving the properties are concentrated within established shopping corridors along Burnside Avenue and Jerome Avenue, where residents have convenient access to everyday retail, grocery options, pharmacies, dining establishments, and essential services. This combination of transit accessibility and concentrated retail infrastructure supports consistent tenant demand across all six buildings.
PROPERTY FACTS
| Price | $25,995,000 | Number of Properties | 6 |
| Price / SF | $92.42 / SF | Individually For Sale | 0 |
| Cap Rate | 11.60% | Total Building Size | 281,281 SF |
| Sale Type | Investment | Total Land Area | 1.54 AC |
| Status | Active |
| Price | $25,995,000 |
| Price / SF | $92.42 / SF |
| Cap Rate | 11.60% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 6 |
| Individually For Sale | 0 |
| Total Building Size | 281,281 SF |
| Total Land Area | 1.54 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 2095 Creston Ave, Bronx, NY 10453 | Multifamily | 80,380 SF | 1928 | - |
| 2338 Morris Ave, Bronx, NY 10468 | Multifamily | 51,750 SF | 1926 | - |
| 2084-2086 Creston Ave, Bronx, NY 10453 | Multifamily | 45,426 SF | 1920 | - |
| 2324 Morris Ave, Bronx, NY 10468 | Multifamily | 41,910 SF | 1937 | - |
| 2063-2065 Creston Ave, Bronx, NY 10453 | Multifamily | 32,815 SF | 1922 | - |
| 2075 Creston Ave, Bronx, NY 10453 | Multifamily | 29,000 SF | 1921 | - |
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