Listed by RM Friedland
$2,795,000
2512 University Avenue
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 21,385
Units 24
Cap Rate 9.80%
NOI $273,261
Price per SqFt $131
Year Built 1914
Buildings 1
Stories 5
Lot Size (SqFt) 6,238
Zoning R6 Wide Zone
Ownership Fee Simple
Multifamily | 24 Units | $116,000/unit
Marketing description
2512 University Avenue, The Bronx - Presenting this five-story, all-brick multifamily building located in the Fordham section of the Bronx. Constructed in 1914, the property comprises 24 residential apartments across approximately 21,385 gross square feet, delivering a solid and balanced unit mix in one of the borough's most active rental corridors. With its central location, large units, and strong in-place rents, the building represents a strong investment opportunity.
The property is enhanced with modern building systems and security features, including a steel and glass entry door, a full intercom system, and cameras strategically installed throughout for resident safety.
The lobby is accented by marble finishes extending halfway up the walls, creating a polished, welcoming aesthetic. Steel and marble staircases rise through the building, combining durability with character, while common areas are outfitted with efficient LED lighting.
The silver-coated rubber roof is in good condition, and flashing has been updated.
There is a 2015 dual-fuel boiler currently running on gas, and fed by a 3,000-gallon above-ground #2 oil tank. Electric and gas meters are located in the basement, and apartments are serviced by breakers.
The apartments themselves are generally well maintained, with several featuring modern upgrades, including stainless steel appliances and clean finishes.
The location provides exceptional access to both community amenities and transit. Just off the Grand Concourse, residents benefit from extensive shopping and services along Fordham Road, and cultural anchors such as the Bronx Library Center. Outdoor and recreational amenities include St. James Park and Poe Park, both a short walk away. Healthcare needs are well served by nearby Montefiore Medical Center and BronxCare Hospital Center.
Connectivity is excellent, with the multiple nearby subway lines at Kingsbridge Road and Fordham Road, multiple bus routes, and Metro-North's Fordham Station providing a direct link to Midtown Manhattan.
Investment highlights
- Building details:
- 24 total units
- 24 residential apartments
- No commercial units
- 1 building, 5 stories, built 1914
- Over six families without stores (c1)
- Building size/sf:
- 49.33 ft x 105.17 ft
- 21,385 gross sf
- No sf with non-residential use
- Avg. Apartment size = 784 sf
- Est. 12% common area
- Parcel size & zoning:
- 6,238 square feet
- 50 ft x 124.75 ft
- R6 wide zone
- Max far: 3.00-4.80 (cf)
Listing Contacts
Listed by RM Friedland
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$273,261.00
$22,771.75/mo
Valuation Metrics
0
DSCR
9.78%
Cap Rate
9.78%
ROI
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