Map of Property

Fordham Multifamily

For Sale

2650 Marion Ave, Bronx, NY 10458

This Bronx property for sale is located at 2650 Marion Ave. The current listed sale price for Fordham Multifamily is $28,000,000. Fordham Multifamily is situated on a lot that is 0.19 acre in size.

Contacts

broker

Brock Emmetsberger

Matthews Real Estate Investment Services

Property Details

  • Property Type Multi-Family
  • Property Size 96,492 SF
  • Units 100
  • Lot Size 0.19 Acre
  • Year Built 1911
  • Date Updated Feb 5, 2024
  • 6 total walk-up buildings, spanning 96,500 gross square feet, with 100 residential units and 311 bedrooms.
  • Densely positioned within 1 block of one another, simplifying management and maintenance.
  • 435′ of street frontage with each building having airshafts and carveouts, allowing windows on all four sides.
  • $2,650,000 gross income, averaging $2,200 per unit, with a T12 NOI of $1,900,000.
  • All 6 buildings are perfectly maintained with less than 12 violations per building on average.
  • 3 Buildings benefit from a J51 abatement through 2037-2040, as a result of recent capital improvements.
  • Agency debt is assumable at an average of 4.6% Fixed, with I/O burning off in 2026. Debt model available.
  • Our asking price of $28,000,000 suggests a 14% Cash on Cash, or 9% after principal, come 2026.
  • The buildings have separate loans and can be sold individually or as a package.
  • Large unit layouts and proximity to Fordham make this a potential student housing opportunity. 

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Getting around

  • 92/100

    Walk Score ®

  • 100/100

    Transit Score ®

  • 51/100

    Bike Score ®

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Location

  • City Bronx, NY
  • Neighborhood Fordham
  • Zip Code 10458
  • Market Bronx

Points of Interest

  • Fordham

    0.21 miles

  • Kingsbridge Road

    0.24 miles

  • Fordham Road

    0.45 miles

  • Botanical Garden

    0.48 miles

  • Bedford Park Blvd.

    0.54 miles

  • Bedford park Blvd.

    0.56 miles

  • Fordham Road

    0.57 miles

  • Bedford Park Boulevard–Lehman College

    0.61 miles

  • Bedford Park Boulevard

    0.62 miles

  • 182-183 Street

    0.79 miles

  • Exxon

    0.37 miles

  • Shell

    0.49 miles

  • BP

    0.51 miles

  • Lukoil

    0.88 miles

  • Gulf

    1.27 miles

  • Sunoco Gas Station

    1.34 miles

  • Speedway

    1.41 miles

  • BP

    1.45 miles

  • BP

    1.50 miles

  • Mobil

    1.54 miles

  • Parking Area A

    0.54 miles

  • Fordham Regional Parking Facility

    0.58 miles

  • Southern Boulevard Parking

    1.09 miles

  • Bronx River Parking

    1.22 miles

  • Asia Parking

    1.43 miles

  • Department of Sanitation District 6 Garage

    1.49 miles

  • Broadway Parking Garage

    1.74 miles

  • Edison Parkfast #136

    2.04 miles

  • P & P Car Parking

    2.86 miles

  • Little Man Parking

    2.87 miles

  • Bronx Park Motel

    0.70 miles

  • Rodeway Inn

    0.76 miles

  • El Rancho Motel

    1.81 miles

  • Crown Motor Inn

    2.09 miles

  • Super 8

    2.57 miles

  • Residence Inn The Bronx

    2.70 miles

  • Pelham Garden Motel

    3.13 miles

  • Best Western

    3.14 miles

  • Hutchinson - Whitestone Motel

    3.16 miles

  • Ramada

    3.26 miles

  • Burlington

    0.17 miles

  • Met

    0.31 miles

  • Morton Williams

    0.39 miles

  • Modern Market

    0.66 miles

  • Fine Fare Supermarket

    0.75 miles

  • C-Town

    0.77 miles

  • Foodtown of Bainbridge

    0.86 miles

  • Target

    1.09 miles

  • Marshalls

    1.13 miles

  • C-Town

    1.23 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Brock Emmetsberger

Matthews Real Estate Investment Services