Property Description

Welcome to 1180 Sherman Avenue, a fully renovated four-family property in the heart of the Concourse. This rare investment opportunity combines modern living with strong rental performance and the long-term upside of R7-1 zoning for future development. Each of the four updated two-bedroom, one-bathroom units is thoughtfully designed with contemporary finishes, including stainless steel appliances, grey quartz countertops, flint grey cabinetry, hardwood floors, and open-concept layouts that maximize space and light. The generously sized bedrooms easily accommodate queen beds with ample closet space, while the updated bathrooms complete the stylish aesthetic.Beyond the interiors, the property offers valuable amenities, including private parking, a full basement with storage and a laundry room, and efficient electric baseboard heating. Its location is equally compelling-just steps from the 167th Street subway station, providing a convenient 30-minute commute to Manhattan, along with proximity to major highways, Starbucks, shopping, and both casual and fine dining.From an investment perspective, the numbers are highly attractive. At an asking price of $1,499,999, the property generates $138,480 in gross annual income and incurs estimated annual expenses of $23,685, resulting in a net operating income of approximately $114,795. This produces a cap rate of roughly 7.65% on an all-cash basis. For those using financing, a 25% down payment, 6% interest rate, and 30-year amortization yields a cash-on-cash return of approximately 9%.Whether you are seeking immediate rental income with strong returns or looking to capitalize on future redevelopment potential, 1180 Sherman Avenue offers an exceptional opportunity in one of the Bronx's most dynamic and accessible neighborhoods.

Property Features