2104 Hughes Avenue, The Bronx, NY, USA

Bronx, New York

Located on the west side of Hughes Ave between E 180th St and E 181st St.

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Asking Price

$1,400,000

Tax Class

Zoning

R7-1

Free-Market Five-Unit Building
Five free-market apartments in a three-story walk-up. With fewer than six units, the building sits below the rent stabilization threshold, offering full pricing flexibility on turnover
Immediate Upside from Vacancy
Four occupied apartments average approximately $2,745/month; leasing the vacant unit at $2,525/month lifts gross revenue and projected NOI providing approximately a 37% increase over in-place cashflow
Attractive Basis & Yield
Offered at $1,400,000, a 6.90% capitalization rate on projected net operating income of $96,532 and $373 per square foot
Zoning & Air Rights
R7-1 zoning (3.44 FAR) permits 8,177 buildable SF, leaving approximately 4,427 SF of unused as-of-right air rights for a future vertical expansion
Belmont Location & Transit
Steps from the Arthur Avenue retail corridor, Fordham University and St. Barnabas Hospital, with the 2 & 5 express trains at West Farms Sq–East Tremont Av a short walk away