Buy with Yoreevo
$1,424,624
List Price: $1,449,999
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811 Courtlandt Avenue
Apartment in Melrose •  building info
7bd • 4ba • 2,450ft² $592 per ft²
Buy with Yoreevo

$1,424,624

List Price

$1,449,999

Key Details
Day on market
1
Last price change
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Estimated payment
$7,824/mo
Taxes
N/A
Maintenance
N/A
Description
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 fully vacant at closing — giving the new owner immediate flexibility to lease at market, 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 delivers a projected cap rate of 8.34% — well above the typical Bronx multi-family benchmark — and a projected cash-on-cash return of 12.91%, based on 20% down at a 6% interest rate over a 30-year amortization. Projected rents are underwritten using current New York City Payment Standards, providing a conservative, voucher-backed baseline; market-rate rents in the area may yield 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 flint grey cabinetry. Hardwood floors flow throughout, complemented by spacious open-concept living areas built for entertaining and stylishly updated bathrooms. The ground-floor commercial space has been fully upgraded and is move-in ready for an established tenant or owner-operator. Additional features include a spacious private backyard ideal for gardening or outdoor relaxation, an adjacent community garden providing a landscaped park-like setting, onsite storage, laundry facilities, and a walkout basement 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 roster of local dining options. R7-2 zoning unlocks meaningful 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 gives you optionality from day one.

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Building amenities
Services and facilities
Parking Available
Building info

History
What it'll cost
Purchase price
$1,449,000
Asking Price: $1,449,999
Term
30 Years
Down Payment
$144,000 (10%)
Min: 10% (144,000)
Rate
6.0 %
Mortgage Amount
$1,304,999
Mortgage Payment
$7,824
Estimated Yoreevo rebate
$25,375
Estimated closing cost
$22,000
Total monthly cost $7,824
Buy your dream home with us and get an estimated $25,375 rebate.
Rebates vary by sale price, market and are subject
to a minimum commission.
Listing Courtesy of Locqube New York Inc.

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