249 Unit Mixed-Use Portfolio Encompassing Almost Full City Block | Longwood, Bronx

$22,750,000

632 Wales Avenue, Bronx, NY 10455

For Sale

Mixed Use

Active

Last Updated: 03/18/2025

Cap Rate: 7.83%

Building Size: 163,428 sqft

Lot Area: 43,328 sqft

Units: 249

Price Per Sqft: $139

Price Per Unit: $91,365

Floors: 5

249 units across 9 walk-up buildings located in the Longwood section of the Bronx
Large footprint encompassing almost a whole city block, ideal for assemblage buyers and prime for seamless management
Sustainable retail tenancy with strong historical collections
Concentrated scale with efficient building systems
48 year long term ownership
4 of the assets are situated along the 152nd Street retail corridor, 2 blocks from the Jackson Ave subway stop for the 2/5 trains along Westchester Avenue
Portfolio benefits from a J-51 tax abatement expiring between 2038-2039
Offered at well below replacement cost
25% of residential units currently on preferential rents

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