Listed by RM Friedland
$2,125,000
490 E 184th St
Details
APN 03053─0064
Property Type Multifamily
Sub Type Apartment Building
Square Footage 15,375
Units 16
Cap Rate 9.70%
NOI $205,338
Price per SqFt $138
Year Built 1913
Buildings 1
Stories 5
Zoning R6A
Multifamily | 16 Units | $133/unit
Marketing description
490 East 184th Street, The Bronx – Presenting this fivestory, all-brick multifamily building located in the heart of the Belmont neighborhood of the Bronx. Constructed in 1913, the property comprises 16 spacious residential apartments across approximately 15,375 gross square feet, providing a stable and well-balanced unit mix in a vibrant rental market.
The building is secured with a modern steel and glass entry door, an intercom system, and cameras installed throughout. The entryway greets residents with original marble and tile finishes, while steel and marble staircases extend to the upper floors, reinforcing both durability and charm.
The common areas have been upgraded with efficient LED lighting, and the property is capped by a silver-coated paper roof that is in good condition and well maintained.
Mechanical systems are anchored by a 2018 dual-fuel boiler currently running on gas, complemented by a 2,500- gallon above-ground oil tank holding 2,000 gallons of #2 oil.
Gas and electric meters are neatly organized in the
basement, and the apartments themselves are equipped
with breakers.
The property benefits from a prime location just off East Fordham Road and Arthur Avenue, placing residents at the center of Belmont’s bustling commercial and cultural hub.
Everyday conveniences include supermarkets, pharmacies, and local shops, while dining options abound with the
Bronx’s famed Little Italy just steps away.
St. Barnabas Hospital and other healthcare providers are nearby, along with recreational landmarks such as the New York Botanical Garden and Bronx Zoo.
Public transportation access is excellent, with multiple bus routes and the Metro-North line at Fordham Road providing direct connections to the rest of the Bronx and a quick commute to Midtown Manhattan.
Investment highlights
- 5.8 x Rent
- 15.4% - 18.8% C/C Return
- Four multifamily and mixed-use buildings in Manhattan & The Bronx spanning approximately 58,000 SF. 490 E 184th St:
- 5-story, 16-unit residential building
- 15,375 Total SF, 34'x 90' parcel
- 16 Total Units
- 16 Residential Apartments
- No Commercial Units
- 1 Building, 5 Stories, Built 1913
- Over Six Families without Stores (C1)
- 34.17 ft x 90 ft
- 15,375 Gross SF
- No SF With Non-Residential Use
- Avg. Apartment Size = 846 SF
- Est. 12% Common Area
- 3,408 Square Feet
- 34.08 ft x 100 ft
- R6A Zone
- Max FAR: 3.00
Listing Contacts
Listed by RM Friedland
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$205,338.00
$17,111.50/mo
Valuation Metrics
0
DSCR
9.66%
Cap Rate
9.66%
ROI
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