Five Fully Free Market Units in the Bronx's Bedford Park with Air Rights, Strong In Place Rents, and Upside

Description:

3163 Villa Avenue, The Bronx - Presenting this five-unit free-market multifamily property located in The Bronx's Bedford Park neighborhood. The subject consists of one three-story building originally built in 1915 and currently configured with five residential apartments. The building contains approximately 3,000 gross square feet and sits on a 20-foot by 100-foot lot.

This frame and brick building features a wood entry door, tile lobby/entryway floor, wood stairs, skylight, intercom system, two security cameras, newer metal fire escapes, and a solid Villa Avenue location neighboring newer residential construction.

Building systems include basement gas and electric meters, two above-ground 275-gallon oil tanks, a two-year old boiler and 67-gallon water heater, apartment-level electric breakers, and a silver-coated rubber roof.

The unit mix includes four one-bedroom apartments and one two-bedroom apartment, and there is a rear yard area accessible from the ground-floor apartment.

The property is located in an R8 zoning district, with maximum buildable square footage estimated at approximately 12,040 to 17,280 square feet with Inclusionary Housing. Based on the existing 3,000 gross square feet, this results in estimated air rights of approximately 9,040 to 14,280 square feet, offering future upside subject to zoning, design, approvals, and buyer diligence.

Residents benefit from convenient access to major neighborhood transportation, retail, healthcare, and recreation options. Nearby subway access includes the B and D trains at Bedford Park Boulevard, along with the 4 train at Bedford Park Boulevard-Lehman College. The area offers local shopping and dining along Bedford Park Boulevard, Jerome Avenue, and Grand Concourse, with additional amenities nearby along Fordham Road. Outdoor recreation is available at Williamsbridge Oval, and healthcare access is supported by Montefiore Health System's main hospital campus.

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