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Rare Majority Free Market 26 Unit Walk-Up Building

$4,800,000

1692 Grand Concourse, Bronx, NY 10457

Active
Last Updated: 03/05/2026

7.53

Cap Rate

361,293

NOI

Details:
Cap Rate:    7.53%
NOI:    $361,293
Pro Forma Cap Rate :    11.53%
Building Size:    18,920 sqft
Lot Area:    5,992 sqft
Zoning:    R8 / C
Highlights:
  • Rare opportunity to acquire a 26 unit majority free market building on the East side of Grand Concourse, between 173rd Street & 174th Street
  • Value-add potential upon lease turnover as free market rents are below the current Section 8 subsidy standards
  • New subsidy payment standards totaling $2,762 for one (1) bedroom apartments & $3,058 for two (2) bedroom apartments
  • Unit breakdown is comprised of eighteen (18) 1-bedroom apartments and eight (8) 2-bedroom apartments
  • Transportation is in abundance with quick access to the 174-175th Streets Subway station, offering direct access to the B and D lines and conveniently located in front of multiple bus stops, including the Bx1 and Bx2 routes
  • Benefits from a vibrant environment with a diverse mix of national and local businesses, including supermarkets, local eateries, schools, and medical institutions
Map:
Documents:
Title
1692_Grand_Concourse_Setup.pdf
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Location
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