- Bedrooms: 7
- Bathrooms: 4
- Price: $1,449,999
Welcome to Concourse Village, a rare, fully renovated, mixed-use investment opportunity in one of the Bronx's most accessible neighborhoods. This versatile building features three updated residential units totaling 7.5 bedrooms and 3.5 bathrooms, plus a modernized ground-floor commercial space, and will be delivered vacant at closing—giving the new owner immediate flexibility to rent at market rate, occupy, or reposition the asset. This is an ideal opportunity for developers, owner-users, and investors seeking a clean slate in a high-demand corridor.
Priced at $1,450,000 with a projected Net Operating Income of $120,894, the property offers a projected capitalization rate of 8.34%—well above the typical benchmark for Bronx multifamily—and a projected equity return of 12.91%, based on 20% down at a 6% interest rate on a 30-year amortization. Projected rents are underwritten using current NYC Payment Standards, providing a conservative, voucher-backed baseline; market rents in the area can generate even stronger returns. Tenants are responsible for their own utilities, keeping operating expenses lean and cash flow predictable from day one.
Each residential unit has been thoughtfully designed for the modern renter, featuring sleek kitchens with stainless steel appliances, grey quartz countertops, and slate grey cabinetry. Solid hardwood floors run throughout, complemented by spacious, open-concept living areas built for entertaining, and elegantly updated bathrooms. The ground-floor commercial space has been fully renovated and is ready for occupancy by an established tenant or owner-operator.
Additional features include a spacious private backyard, ideal for gardening or outdoor relaxation, an adjacent community garden offering a park-like landscaped setting, on-site storage, laundry facilities, and a basement with exterior access for added utility and flexibility. Ideally located just minutes from the Melrose Metro-North station, with a 30-minute commute to Midtown Manhattan, the property also offers convenient access to major highways, Starbucks, and a growing list of local dining options.
R7-2 zoning unlocks significant development potential, making this an exceptional opportunity for builders and long-term holders looking to scale or reposition the site. Delivered vacant, fully renovated, and offering double-digit projected returns with diversified residential and commercial income streams—this property offers optionality from day one.
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