240 E Tremont Ave 10 Unit Apartment Building $2,594,754 CAD ($259,475 CAD/Unit) 7% Cap Rate Bronx, NY 10457

Landair Advisors has been exclusively retained to sell 240 East Tremont Avenue, a mixed -use asset comprised of 8 residential units and 2 retail spaces. This is a rare opportunity to acquire a cash-flowing property with a clear runway toward future redevelopment.
The existing building consists of a 4- story, 12,160 SF building configured with 8 apartments and 2 stores. The residential mix includes 6 rent-stabilized units and 2 market-rate units. Currently, two rent-stabilized apartments and one retail space are vacant. All leases are scheduled to expire in early 2027, offering near-term flexibility for repositioning, owner-occupancy, or a phased redevelopment strategy.
The R8 zoning allows for 29,548 buildable SF as-of-right, with the potential to increase to 35,458 with UAP, positioning the asset as a viable long-term development play.
The property benefits from strong transit accessibility, located approximately 0.2 miles from the B/D subway lines on Tremont Av, 0.3 miles from Metro -North, and 0.4 miles from the 4 train on Jerome Av. This connectivity enables direct access to Midtown Manhattan in under 30 minutes. The surrounding neighborhood is well-supported by essential amenities, including schools, healthcare facilities, and neighborhood retail, reinforcing long-term residential demand.