2531B Grand Avenue, Bronx, NY 10468

Property Description

Outstanding opportunity to own a well-maintained legal three-family property in the highly accessible Fordham/Kingsbridge Heights area of the Bronx. Built in 2004 and offering approximately 3,206 sq. ft. of living space, this spacious property features a desirable unit mix consisting of a 2-bedroom, 2-bath first-floor apartment and two 3-bedroom, 2-bath apartments on the second and third floors. Each unit offers generous layouts and hardwood flooring, with natural-gas heat and separately metered gas and electric service for each apartment. The first-floor unit also enjoys access to private rear outdoor space, while two front parking spaces provide valuable off-street parking. The strong 2BR/3BR/3BR configuration creates excellent rental-income potential and flexibility for investors or an owner-user looking to occupy one unit while generating income from the others. Conveniently located near the 4 and D subway lines, multiple bus routes including the Bx12, Bx9, Bx3, Bx22 and Bx28, and a wide variety of shopping, schools, colleges, healthcare facilities and major roadways. Beyond its current income-producing potential, the property offers an especially compelling long-term investment opportunity. Situated on an approximately 18.75' x 106' lot within an R6 zoning district, the property is located in an area experiencing continued multifamily investment and development activity. The surrounding neighborhood includes significantly larger multifamily developments, creating potential opportunities for investors interested in future redevelopment, assemblage or additional development rights. Any redevelopment, expansion, air-rights or assemblage potential should be independently verified by the purchaser with the appropriate zoning and architectural professionals. A unique opportunity to acquire a modern legal three-family property combining parking, outdoor space, separate utilities, strong rental potential, excellent transportation access and intriguing long-term development possibilities.