Listed by Real NY Properties
$39,000,000
Bronx Section 8 Multifamily Portfolio Acquisition
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 62,607
Units 99
NOI $2,349,896
Price per SqFt $623
Year Built 2021 ,2018
Buildings 8
Lot Size (SqFt) 3,875 - 47,500
Zoning Zoning & Development Flexibility
Multifamily | 99 Units | $394,000/unit
Marketing description
This offering presents a rare opportunity to acquire a strategically located, income-producing multifamily port- folio in the Bronx-one of New York City's most resilient and high-demand residential markets. The portfolio comprises three distinct assets totaling 101 residential units across the Fordham and Mount Hope neighborhoods, with a total asking price of $48 million. A key advantage of this portfolio is its strong exposure to Section 8 housing, which provides reliable, government- backed rental income. This program ensures consistent cash flow with limited collection risk, offering stability even during broader market downturns. With the demand for affordable housing at an all-time high, these assets are well-positioned to deliver durable, recession-resistant returns while maintaining alignment housing priorities.
Investment highlights
- Prime Urban Locations With Strong Fundamentals
- Each property is situated within walkable, transit-rich corridors, offering direct access to the B/D/4 subway lines, regional bus routes, and major thoroughfares. The buildings benefit from proximity to institutions such as Fordham University, St. Barnabas Hospital, and a broad base of local retail—supporting stable and long-term tenant demand.
- Economies Of Scale Across Clustered Assets
- With all three assets located within a concentrated geographic radius, the portfolio supports operational efficiency through centralized management, shared maintenance resources, and scalable tenant services—enhancing overall net operating income (NOI).
- In-Place Cash Flow With Upside Potential
- The portfolio offers stable, in-place income and presents value-add potential through strategic unit renovations, rent optimization, and potential regulatory turnover. Depending on tenancy mix, the buyer may benefit from gradual transition of units to market rates, yielding material rent growth.
- The portfolio offers stable, in-place income and presents value-add potential through strategic unit renovations, rent optimization, and potential regulatory turnover. Depending on tenancy mix, the buyer may benefit from gradual transition of units to market rates, yielding material rent growth.
- Undervalued Market Positioning
- The portfolio offers stable, in-place income and presents value-add potential through strategic unit renovations, rent optimization, and potential regulatory turnover. Depending on tenancy mix, the buyer may benefit from gradual transition of units to market rates, yielding material rent growth.
- Zoning & Development Flexibility
- Preliminary due diligence suggests potential for additional density or air rights utilization, particularly at 3187 Grand Concourse. Subject to zoning analysis, the properties may support future expansion, repositioning, or redevelopment.
Listing Contacts
Listed by Real NY Properties
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$2,349,896.00
$195,824.67/mo
Valuation Metrics
0
DSCR
6.03%
Cap Rate
6.03%
ROI
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