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1209 Elder Avenue 1209 Elder Ave 12 Unit Apartment Building $1,950,000 ($162,500/Unit) 8.89% Cap Rate Bronx, NY 10472
Investment Highlights
- Calling All Investors, Developers & End-Users!!! 11 Unit Bronx Apartment Building Just Off Westchester Ave. For Sale!!!
- Located In The Heart Of Park Versailles Just Off Busy Westchester Ave. Situated Between The Bronx River Pkwy., I-95, I-278 & Sheridan Blvd.!!!
- This Property Offers HUGE Upside Potential!!!
- The Building Features Excellent Signage, Great Exposure, C4-2 (R6 Equivalent) Zoning, High 9’ Ceilings, (11) 3 Br. Apartments, Large Rear Yard, +++!!!
- Neighbors Include Chase Bank, Bank Of America, Verizon, T-Mobile, AT & T, Extra Space Storage, CubeSmart Self Storage, Boost Mobile, CVS, +++!!!
- This Could Be Your Next Development Site Or The Next Home For Your Business!!!
Executive Summary
Calling All Investors, Developers & End-Users!!! 11 Unit Bronx Apartment Building Just Off Westchester Ave. For Sale!!! The Building Features Excellent Signage, Great Exposure, C4-2 (R6 Equivalent) Zoning, High 9’ Ceilings, (11) 3 Br. Apartments, 5 Stories, Large Rear Yard, All New LED Lighting, 3 Phase Power, A/C, +++!!!! The Property Is Located In The Heart Of Park Versailles Just Off Busy Westchester Avenue!!! The Property Is Situated Between The Bronx River Pkwy., I-95, I-278 & Sheridan Blvd.!!! Neighbors Include Chase Bank, Bank Of America, Verizon, T-Mobile, AT & T, Extra Space Storage, CubeSmart Self Storage, Boost Mobile, CVS, Dunkin’, CityMD, Shell, BP Gas, Foot Locker, Cookie’s Department Stores, McDonald’s, Burger King, Papa John’s, Domino’s, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!!
Income:
Unit 1 (3 Br. Apt.): $6,600 Ann.; No Lease.
Unit 2 (3 Br. Apt.): $23,757.24 Ann. Lease Exp.: 11/30/26.
Unit 3 (3 Br. Apt.): $24,828.60 Ann.; Lease Exp.: 3/31/26.
Unit 4 (3 Br. Apt.): $27,660 Ann.; Lease Exp.: 3/31/27.
Unit 5 (3 Br. Apt.): $30,000 Ann.; Lease Exp.: 3/31/27.
Unit 6 (3 Br. Apt.): $23,870.64 Ann.; Lease Exp.: 1/31/27.
Unit 7 (3 Br. Apt.): $27,833.28 Ann.; Lease Exp.: 11/30/26.
Unit 8 (3 Br. Apt.): $23,789.04 Ann.; Lease Exp.: 11/30/26.
Unit 9 (3 Br. Apt.): $25,260 Ann.; Lease Exp.: 2/28/27.
Unit 10 (3 Br. Apt.): $21,004.56 Ann.; Lease Exp.: 10/31/27.
Unit 11 (3 Br. Apt.): $22,093.68 Ann.; Lease Exp.: 7/31/27.
Gross Income: $256,697.04 Ann.
Expenses:
Oil: $20,092.61 Ann.
Electric: $2,355.18 Ann. (Common Areas Only)
Maintenance & Repairs: $5,500 Ann.
Insurance: $10,000 Ann.
Water & Sewer: $13,286.04 Ann.
Taxes: $32,129.96 Ann.
Total Expenses: $83,363.79 Ann.
Net Operating Income (NOI): $173,333.25 Ann. (8.89 Cap!!!)
Income:
Unit 1 (3 Br. Apt.): $6,600 Ann.; No Lease.
Unit 2 (3 Br. Apt.): $23,757.24 Ann. Lease Exp.: 11/30/26.
Unit 3 (3 Br. Apt.): $24,828.60 Ann.; Lease Exp.: 3/31/26.
Unit 4 (3 Br. Apt.): $27,660 Ann.; Lease Exp.: 3/31/27.
Unit 5 (3 Br. Apt.): $30,000 Ann.; Lease Exp.: 3/31/27.
Unit 6 (3 Br. Apt.): $23,870.64 Ann.; Lease Exp.: 1/31/27.
Unit 7 (3 Br. Apt.): $27,833.28 Ann.; Lease Exp.: 11/30/26.
Unit 8 (3 Br. Apt.): $23,789.04 Ann.; Lease Exp.: 11/30/26.
Unit 9 (3 Br. Apt.): $25,260 Ann.; Lease Exp.: 2/28/27.
Unit 10 (3 Br. Apt.): $21,004.56 Ann.; Lease Exp.: 10/31/27.
Unit 11 (3 Br. Apt.): $22,093.68 Ann.; Lease Exp.: 7/31/27.
Gross Income: $256,697.04 Ann.
Expenses:
Oil: $20,092.61 Ann.
Electric: $2,355.18 Ann. (Common Areas Only)
Maintenance & Repairs: $5,500 Ann.
Insurance: $10,000 Ann.
Water & Sewer: $13,286.04 Ann.
Taxes: $32,129.96 Ann.
Total Expenses: $83,363.79 Ann.
Net Operating Income (NOI): $173,333.25 Ann. (8.89 Cap!!!)
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$256,697
|
$19.45
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$256,697
|
$19.45
|
| Taxes |
$32,130
|
$2.43
|
| Operating Expenses |
$51,234
|
$3.88
|
| Total Expenses |
$83,364
|
$6.32
|
| Net Operating Income |
$173,333
|
$13.13
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $256,697 |
| Annual Per SF | $19.45 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $256,697 |
| Annual Per SF | $19.45 |
| Taxes | |
|---|---|
| Annual | $32,130 |
| Annual Per SF | $2.43 |
| Operating Expenses | |
|---|---|
| Annual | $51,234 |
| Annual Per SF | $3.88 |
| Total Expenses | |
|---|---|
| Annual | $83,364 |
| Annual Per SF | $6.32 |
| Net Operating Income | |
|---|---|
| Annual | $173,333 |
| Annual Per SF | $13.13 |
Property Facts
| Price | $1,950,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $162,500 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.09 AC |
| Cap Rate | 8.89% | Building Size | 13,199 SF |
| No. Units | 12 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 5 |
| Property Subtype | Apartment | Year Built | 1913 |
| Zoning | C4-2 | ||
| Price | $1,950,000 |
| Price Per Unit | $162,500 |
| Sale Type | Investment |
| Cap Rate | 8.89% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.09 AC |
| Building Size | 13,199 SF |
| Average Occupancy | 100% |
| No. Stories | 5 |
| Year Built | 1913 |
| Zoning | C4-2 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Fenced Lot
- Security System
- Storage Space
- Bicycle Storage
- Maintenance on site
- Public Transportation
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | - |
Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 03772-0062 | Total Assessment | $190,350 (2026) |
| Land Assessment | $45,000 (2026) | Annual Taxes | $32,130 ($2.43/SF) |
| Improvements Assessment | $145,350 (2026) | Tax Year | 2025 |
Property Taxes
Parcel Number
03772-0062
Land Assessment
$45,000 (2026)
Improvements Assessment
$145,350 (2026)
Total Assessment
$190,350 (2026)
Annual Taxes
$32,130 ($2.43/SF)
Tax Year
2025
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