Renovated Multifamily Property in
For Sale
$1,100,000
Pending
1362 Noble Ave The, Bronx, NY 10472
Fully occupied, renovated multifamily property with multiple units.
Property Size3,630 SF
Lot Size0.06 Acres
Days on Market157
Property Features for 1362 Noble Ave The
General Information
Standard status
Pending
Size
3,630 SF
Lot size
0.06 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$15,259
Building Details
Building Size
3,630 SF
Year Built
1930
Units
4
Listing Agency:
New Concept Sheik's Realty
(917) 365-4177
Listed By:
Deon Shukor · License #10311203596
(917) 365-4177
Source:
Elliman
Added: Mar 11
Changed: Aug 13
Last Checked: Aug 13 at 8:34AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of New Concept Sheik's Realty
Investment Insights
Based on property information with market context.
This is a renovated multifamily property that is fully occupied. The property contains multiple apartments. Apartment 1R features 2 bedrooms, a living room, a kitchen, and a full bathroom. Apartment 1F is a duplex with 3 bedrooms, a living room, a kitchen, and a full bathroom. Apartment 2R includes 3 bedrooms, a living room, a kitchen, and a full bathroom. Apartment 2F offers 2 bedrooms, a living room, a kitchen, and a full bathroom. The property also has storage and parking features, including a 2-car attached parking area.
Key Highlights
- Fully occupied property provides immediate rental income.
- Newly renovated condition minimizes immediate maintenance costs.
- Four apartments offer diversified income streams.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$83,503
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.59%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,670,060
$1.7M
Cap Rate 7%
$1,192,900
$1.2M
Cap Rate 9%
$927,811
$927.8K
Market Conditions
NOI Build-Up for 3,630 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$161.2K $44.40/SF
− Vacancy
−$9.3K −$2.58/SF
EGI
$151.8K $41.82/SF
− OpEx
−$68.3K −$18.82/SF
NOI
$83.5K $23.00/SF
Area
Bronx, NY
Vacancy
5.80%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,670,060
Cap Rate 7%
$1,192,900
Cap Rate 9%
$927,811
Alternative Uses
Best Use
Apartment 5plus
$1.19M
$1.04M – $1.39M
NOI $83,503 @ 7.0% cap · market cap 7.59%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.52M
$2.20M – $2.93M
NOI $176,073 @ 7.0% cap · market cap 16.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,262
Businesses Nearby
Explore this area
Business Placement
Demographics for 10472, NY
72,245
Population
24,259
Households
3
Avg Household Size
34
Median Age
14%
College-Educated
69%
High-School Grad
1.1 sq mi
ZIP Area
65,677
Density / Sq Mi
$43,125
Median Household Income
$35,180
Median Earnings
$1,445
Median Rent
$632,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied, renovated multifamily property with multiple units.
Where is this apartment building located?
The property is located at 1362 Noble Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Fully occupied property provides immediate rental income.; Newly renovated condition minimizes immediate maintenance costs.; Four apartments offer diversified income streams.
