1030 Summit Avenue, Bronx, NY, 10452 New York City NY US

Located in the Highbridge neighborhood of the Bronx, 1030 Summit Avenue is a residential Two-Family home built in approximately 1901, with low taxes ($166/month) and square footage of 2,808SF across three floors including a three-car garage, plus a sunny south-east facing back yard. The property is in good condition with parquet floors, excellent light, a new hot water heater, five-year old boiler, new plumbing and paint, and it as such represents excellent value for a residential Buyer or Owner-Landlord although minor renovations will be recommended. Alternatively, given its attractive location and the current rental market in the neighborhood, the site also represents an outstanding development investment for construction of a new rental building - the lot has a Residential Floor Area Ratio (FAR) of 3.44 giving a maximum Buildable Square Footage of 8,600 BSF and a potential Capitalization (CAP) rate of 8.5% following construction and holding costs! 1030 Summit Avenue is located close to Yankee Stadium and the Macombs Dam and Joyce Kilmer Parks, and a five-minute drive across the Macombs Dam Bridge into Manhattan. The 4, B and D subway lines are just a short stroll away.This property represents an outstanding opportunity for a residential Buyer or Owner-Landlord, or especially for a Developer. Contact the listing broker Harlem Lofts Inc today for your private showing. Click Here for Full Listing Details Find out more about this property. Request details here