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Art Deco Corner Elevator Building In The Bronx – 41 Apartments

$3,495,000

2230 Tiebout Avenue, Bronx, NY 10457

Active
Last Updated: 05/21/2025

7.37

Cap Rate

257,559

NOI

Details:
Cap Rate:    7.37%
NOI:    $257,559
Building Size:    37,260 sqft
Lot Area:    6,900 sqft
Units:    41
Year Built:    1937
Price Per Sqft:    $94
Price Per Unit:    $85,000
Zoning:    R7-1 Zone
Description:

2230 Tiebout Avenue, The Bronx - Team Lala of RM Friedland is pleased to present 2230 Tiebout Avenue, a six story Art Deco-style corner building located in the Fordham section of the Bronx. Built in 1937 and encompassing approximately 37,260 square feet, this elevator-serviced property contains 41 residential apartments, all of which are rent-stabilized. The building sits on a 6,900 square foot corner lot in an R7-1 zone.

This classic pre-war asset offers spacious layouts with an average apartment size of approximately 800 square feet. The unit mix includes a balance of studios, one-bedrooms, and two-bedrooms, with average monthly rents of $1,182 per unit or $374 per room—suggesting meaningful upside in a future post-HSTPA era.

Located just a short walk from the bustling Fordham Road corridor, the property is near the B and D subway lines at Grand Concourse, the Metro-North Fordham station, and major bus routes. Residents benefit from convenient access to Fordham University, St. Barnabas Hospital, Fordham Road retail, the Bronx Zoo, and multiple neighborhood parks.

This is a rare opportunity to acquire a well-maintained, income-generating Art Deco building in a vibrant, high-demand Bronx neighborhood with demonstrated rental upside and strong long-term positioning.

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