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3187 Grand Concourse
Bronx, NY 10468
Multifamily Property For Sale
·
33 Units
Executive Summary
For Sale – 3187 Grand Concourse, Bronx, NY
3187 Grand Concourse is a newer construction 33-unit multifamily asset located along one of the Bronx’s most established corridors. The property is fully leased to Section 8 tenants, providing investors with complete rental stability through reliable, government-backed income.
The building also benefits from a favorable tax abatement, which reduces operating costs and enhances long-term returns. Built to modern standards, the property is in excellent condition, requiring minimal near-term capital investment.
With its combination of 33 units, 100% Section 8 tenancy, tax advantages, and high-quality construction, 3187 Grand Concourse offers a turnkey, low-risk investment opportunity in a resilient New York City rental market.
3187 Grand Concourse is a newer construction 33-unit multifamily asset located along one of the Bronx’s most established corridors. The property is fully leased to Section 8 tenants, providing investors with complete rental stability through reliable, government-backed income.
The building also benefits from a favorable tax abatement, which reduces operating costs and enhances long-term returns. Built to modern standards, the property is in excellent condition, requiring minimal near-term capital investment.
With its combination of 33 units, 100% Section 8 tenancy, tax advantages, and high-quality construction, 3187 Grand Concourse offers a turnkey, low-risk investment opportunity in a resilient New York City rental market.
Property Facts
| Price Per Unit | $580,673 CAD | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 6.30% | Lot Size | 0.14 AC |
| No. Units | 33 | Building Size | 25,522 SF |
| Property Type | Multifamily | No. Stories | 9 |
| Property Subtype | Apartment | Year Built | 2024 |
| Zoning | R8 - High density residential district. | ||
| Price Per Unit | $580,673 CAD |
| Sale Type | Investment |
| Cap Rate | 6.30% |
| No. Units | 33 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.14 AC |
| Building Size | 25,522 SF |
| No. Stories | 9 |
| Year Built | 2024 |
| Zoning | R8 - High density residential district. |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
Site Amenities
- Bicycle Storage
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 33 | - | 697 |
Property Taxes
| Parcel Numbers | Improvements Assessment | $2,068,793 CAD | |
| Land Assessment | $170,969 CAD | Total Assessment | $2,239,762 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$170,969 CAD
Improvements Assessment
$2,068,793 CAD
Total Assessment
$2,239,762 CAD
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