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181 W Tremont Ave 38 Unit Apartment Building $2,731,320 CAD ($71,877 CAD/Unit) 9% Cap Rate Bronx, NY 10453
Investment Highlights
- Five-story prewar multifamily building totaling approximately 37,500 square feet in the Morris Heights neighborhood of the Bronx.
- Situated on a corner lot with frontage on West Tremont Avenue and Andrews Avenue South, enhancing light, air, and long-term appeal.
- Located in Morris Heights, a high-demand Bronx neighborhood with strong renter base and neighborhood amenities.
- 38-unit walk-up asset built in 1925, offering scale in a dense, transit-oriented Bronx submarket.
- Zoned R5, supporting continued residential use in an established multifamily corridor.
- Excellent transit accessibility with nearby subway and bus options providing convenient connectivity to Manhattan and greater Bronx.
Executive Summary
181 West Tremont Avenue is a five-story, 38-unit rent-stabilized multifamily walk-up located at the corner of West Tremont Avenue and Andrews Avenue South in the Morris Heights neighborhood of the Bronx. The 37,500-square-foot property sold for $2,000,000, equating to $52,630 per unit and $53 per square foot. The asset was marketed at a 9.0% cap rate and features studio to two-bedroom units, providing stable in-place cash flow in a dense, transit-oriented Bronx submarket.
Property Facts
| Price | $2,731,320 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $71,877 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 9% | Building Size | 37,500 SF |
| No. Units | 38 | No. Stories | 5 |
| Property Type | Multifamily | Year Built | 1925 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R5 - Residential | ||
| Price | $2,731,320 CAD |
| Price Per Unit | $71,877 CAD |
| Sale Type | Investment |
| Cap Rate | 9% |
| No. Units | 38 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.15 AC |
| Building Size | 37,500 SF |
| No. Stories | 5 |
| Year Built | 1925 |
| Opportunity Zone |
Yes |
| Zoning | R5 - Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 38 | - | - |
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 02879-0050 | Improvements Assessment | $619,832 CAD |
| Land Assessment | $43,633 CAD | Total Assessment | $663,465 CAD |
Property Taxes
Parcel Number
02879-0050
Land Assessment
$43,633 CAD
Improvements Assessment
$619,832 CAD
Total Assessment
$663,465 CAD
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181 W Tremont Ave
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