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$ 3,579,000
Est. payment | /mo
4,356 Sqft Lot
$ 3,579,000
Est. payment | /mo
4,356 Sqft Lot
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 916517
Rental Info No
Year Built 1916
Annual Tax Amount $44,967
Lot Size 4,356 Sqft
Acres 0.1
Property Sub-Type Multi Family
Source onekey2
Property Description
Welcome to a prime investment opportunity in the heart of University Heights, Bronx, NY. This well-maintained, 11-unit rental building at 2328 University Avenue offers a spacious interior totaling 17,000 square feet of living space. With plenty of room for growth and the potential for future development, this property is an ideal choice for long-term investors looking to capitalize on the continued growth and revitalization of the Bronx. Total Square Footage: 17,000 sqft of interior space, providing expansive apartments that offer comfortable living for tenants. The building features a new heating system and a recently replaced roof, ensuring reliable operation and minimal future maintenance costs. Currently configured as an 11-unit rental building, the property boasts significant upside potential. The living space if converted can allow up to 21 units rental, or luxury condo/co-op conversion — presenting numerous possibilities for creative redevelopment. This building Situated right across from an Opportunity Zone, offering potential tax incentives for developers and investor. University Heights is a thriving neighborhood in the Bronx, known for its convenient proximity to key transportation hubs and an ever-growing rental market. The building is located just steps away from multiple public transportation options, including bus and subway lines, making commuting a breeze for residents. AlsoThe area is home to a number of colleges and universities, including Lehman College, making it an attractive location for students and faculty members seeking rental housing. The presence of major employers and proximity to the Fordham University campus, as well as healthcare and business districts, ensures a steady demand for rental units in the area. Residents will enjoy easy access to various parks, restaurants, shops, and cafes, including the Morris-Jumel Mansion, one of the oldest houses in the Bronx. The neighborhood also features a number of local shops, grocery stores, and healthcare centers, offering a convenient lifestyle for tenants. The property is strategically positioned for future development in an area that is experiencing infrastructure improvements. Being near a designated Opportunity Zone further enhances the potential for tax incentives, making it an attractive choice for savvy investors looking for long-term returns. This building represents a fantastic opportunity for investors looking to secure a stable rental income stream with long-term appreciation potential. Whether you choose to maintain the current layout or explore future development options the potential for high returns on investment is undeniable. 2328 University Avenue is more than just a property — it's an investment in the future of one of New York's most rapidly developing neighborhoods. With its ideal location, large interior space, updated systems, and significant redevelopment potential, this property offers a rare opportunity for savvy investors looking to capitalize on both immediate income and future growth. Don't miss out on this incredible investment opportunity in University Heights.
Location
State NY
County Bronx County
Rooms
Basement Full, Storage Space, Unfinished, Walk-Out Access
Interior
Heating Natural Gas, Oil
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Features Off Street
Utilities Available Cable Available, Cable Connected, Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Sewer Available, Sewer Connected, Trash Collection Public, Water Available, Water Connected
Building
Story 5
Sewer Public Sewer
Water Public
Structure Type Brick
Others
Special Listing Condition None
Listed by EXP Realty • Christopher Ortiz
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Charlie Maione
Associate Broker