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49-Units Multifamily Elevator Building 3650 Bronx Blvd 49 Unit Apartment Building $4,750,000 ($96,939/Unit) 8.03% Cap Rate Bronx, NY 10467
Investment Highlights
- It is possible to duplex down to cellar, 2 first floor (Studio & 1 Bedroom) apartments for additional income
- Super's Apartment has never been registered and can be an additional source of income.
Executive Summary
Price Reduced by 40% ($3,250,000) from $8,000,000 to $4,750,000.
Subject Property is a Six-story Mid-Rise Masonry Elevator Apartment Building with 49 Apartments consisting of One (1) Studio, Forty-One (41) 1 Bedroom, & Seven(7) 2 Bedroom Residential Apartments. 149 Rooms Total. It is possible to duplex down to the cellar, 2 first-floor (Studio & 1 Bedroom) apartments. Building Gross total floor area of 41,514 Square feet. The property was built in 1932 and is located in the Olinville Section of the Bronx.
Subject Property is a Six-story Mid-Rise Masonry Elevator Apartment Building with 49 Apartments consisting of One (1) Studio, Forty-One (41) 1 Bedroom, & Seven(7) 2 Bedroom Residential Apartments. 149 Rooms Total. It is possible to duplex down to the cellar, 2 first-floor (Studio & 1 Bedroom) apartments. Building Gross total floor area of 41,514 Square feet. The property was built in 1932 and is located in the Olinville Section of the Bronx.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$630,658
|
$14.84
|
| Other Income |
$6,000
|
$0.14
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$636,658
|
$14.99
|
| Taxes |
$103,709
|
$2.44
|
| Operating Expenses |
$151,458
|
$3.56
|
| Total Expenses |
$255,167
|
$6.01
|
| Net Operating Income |
$381,491
|
$8.98
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $630,658 |
| Annual Per SF | $14.84 |
| Other Income | |
|---|---|
| Annual | $6,000 |
| Annual Per SF | $0.14 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $636,658 |
| Annual Per SF | $14.99 |
| Taxes | |
|---|---|
| Annual | $103,709 |
| Annual Per SF | $2.44 |
| Operating Expenses | |
|---|---|
| Annual | $151,458 |
| Annual Per SF | $3.56 |
| Total Expenses | |
|---|---|
| Annual | $255,167 |
| Annual Per SF | $6.01 |
| Net Operating Income | |
|---|---|
| Annual | $381,491 |
| Annual Per SF | $8.98 |
Property Facts
| Price | $4,750,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $96,939 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 8.03% | Building Size | 42,486 SF |
| No. Units | 49 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 6 |
| Property Subtype | Apartment | Year Built | 1932 |
| Zoning | R6 - Residential | ||
| Price | $4,750,000 |
| Price Per Unit | $96,939 |
| Sale Type | Investment |
| Cap Rate | 8.03% |
| No. Units | 49 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 42,486 SF |
| Average Occupancy | 100% |
| No. Stories | 6 |
| Year Built | 1932 |
| Zoning | R6 - Residential |
Amenities
Unit Amenities
- Kitchen
- Range
Site Amenities
- Laundry Facilities
- Gas Range
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 1+1 | 41 | - | - |
| 2+2 | 7 | - | - |
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 04645-0028 | Total Assessment | $1,116,450 (2025) |
| Land Assessment | $111,600 (2025) | Annual Taxes | $103,709 ($2.44/SF) |
| Improvements Assessment | $1,004,850 (2025) | Tax Year | 2023 |
Property Taxes
Parcel Number
04645-0028
Land Assessment
$111,600 (2025)
Improvements Assessment
$1,004,850 (2025)
Total Assessment
$1,116,450 (2025)
Annual Taxes
$103,709 ($2.44/SF)
Tax Year
2023
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49-Units Multifamily Elevator Building | 3650 Bronx Blvd
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