Beginner Investor - South Bronx - Multifamily Buy/Hold

32 Replies

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@Barbara G. The same could be said about East NY, Bushwick and many other areas that are not hot. I would not have wanted to set foot in any of these places and on many blocks still don't. Same for parts of East Harlem.  Time seems to have proved that people will put up with a scary walk home to save $500K or so and be in the up and coming area. 

Originally posted by @Nazimcan Suvag:

@Chris Rosenberg -

motthavenbar.com/

This place is pretty cool

Question:

That area was always terrible and very old.  What is the housing stock like?  Are they brownstones or walk ups?   What economic level lived there before?  What age houses are you looking at?  How near are they to projects?  Is it like the Arthur Avenue Area??
Thanks

Bg

@Barbara G.

The small section south of the bruckner is away from the projects. North of it has projects everywhere. Mostly apartment buildings. Old row homes. Poor area. Convenient to manhattan via a quick subway ride. Not like Arthur Ave at all.

I'm personally looking to move into Morris Park. Looking for a 3 family house there. 

welcome and best wishes. IMHO I say the Bronx may be a good investment  (wo knowing the deal details) but I don't think the Bronx will ever gentrify like brooklyn. it has to do with the subway lines and quick access to midtown or downtown Manhattan. the Bronx is a haul to midtown. 

What about the west Bronx and the lower Bronx area with access to the Ind D Line or the Jerome Ave Line.  I used to line in the Fordham Area and The D line and that was further up in the Bronx and still it  was a quick trip to midtown 

Originally posted by @Carl C. :

@Barbara G. The South Bronx is an area many people in the city see as the next great location for development and investment. The past 20 years, yes, it's been a tough area. But it has direct subway access to midtown Manhattan, very reasonable prices for type of housing available, and diversity not just of residents but also housing stock. There was recently an article in the NY Times about this. Not that long ago people would have said Williamsburg, Park Slope, and Bushwick were war zones. Now they are all highly desirable. There aren't a lot of options for areas with easy commutes. I think the South Bronx has a lot of potential for greatness despite its historic perceptions. Part of my opinion comes from working there several years ago for the city and seeing the beautiful buildings, easy commute, and also the changing demographics. 

@carl Carlson

Do you yourself own any properties in the south Bronx area? In the Bronx @ all? Also which NY times partially are you referring to?? Thank you.

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