2758 Cruger Avenue, NY

Corner 53-unit Walk-up Multifamily Property

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Overview

Key Highlights

Price $4,700,000
$/SF $96
Units 53
$/Unit $88,679
Gross SF 48,800

Investment Highlights

• Located on the north side of Cruger Avenue between Arnow Avenue & Allerton Avenue

• Comprised of 53 units, split up into fourty-seven (47) one-bedrooms, five (5) two-bedrooms, and one (1) 3-bedroom

• 6-story walk up building with 100’ of frontage and approximately 48,800 gross square feet

• Situated in a desirable location throughout the Bronx, surrounded by a plethora of neighborhood attractions such as the New York Botanical Garden & the Bronx Zoo

• Heating system was converted to duel-fuel boiler with new burner and water tanks in 2015/2016, new boiler was installed in 2023

• Professional management company maintained the property in excellent condition

• Close proximity to the 2 & 5 train and conveniently located around a variety of national retail tenants such as Bank of America, CVS, Walgreens, McDonalds, and more

• Priced well below replacement cost and 28% of units operating on preferential rents provide potential upside