Bronx Multifamily Building Investment
309 Bedford Park Blvd The Bronx, NY 10458
309 Bedford Park Blvd The, Bronx, NY, 10458
$3,500,000
For Sale
$3,500,000
Well-maintained, renovated 4-story multifamily building in Bedford Park/Norwood section.
Property Size7,400 SF
Price / SF$472.97
Days on Market62
Property Features for 309 Bedford Park Blvd The
General Information
- Standard status
- Active
- Size
- 7,400 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1910
Listing agency
Houlihan Lawrence Inc.
(347) 515-5726
Listed by
Renato Nikolla
(347) 515-5726
Source
Elliman
Added: May 21 Updated: Jul 10 at 3:58PM Checked: Jul 21 at 5:24AM
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 Houlihan Lawrence Inc.
Investment Insights
Based on property information with market context.
Located in the Bedford Park/Norwood section of The Bronx, this well-maintained 4-story stone and brick multifamily building offers an investment opportunity. The property spans approximately 7,400 square feet and includes 5 oversized residential units. There are four expansive 5-bedroom, 2-bathroom apartments and one ground-floor 2-bedroom, 2-bathroom unit. The building underwent a full gut renovation approximately 8 years ago, including new drywall, upgraded electrical systems and fixtures, renovated kitchens and bathrooms, upgraded windows, a new roof, new furnaces and hot water heaters, updated heating elements, and new gas piping. Ownership has continued to maintain and improve the building since the renovation. All utilities are fully separated, with each unit featuring its own individual gas furnace and separate hot water heater, totaling 5 independent heating systems throughout the property. Additional capital improvements include newly installed concrete and drainage piping completed just 2 years ago. Ownership recently installed a new sidewalk curb valve for emergency water shutoff access, professionally de-clogged the main water line, and installed new shutoff valves in the utility room. The 1st, 2nd, and 3rd floor units are currently occupied by a daycare operation. The property is located within an R7A zoning district, allowing for approximately 2,676 square feet of additional buildable area. The location is near transportation, shopping, schools, parks, and major thoroughfares. The bike score is 71 (Very Bikeable), the walk score is 81 (Very Walkable) and the transit score is 100 (Rider's Paradise).
Key Highlights
- Full gut renovation completed approximately 8 years ago, including new electrical, plumbing, kitchens, bathrooms, windows, roof, furnaces, and hot water heaters.
- Five oversized residential units: four 5‑bedroom/2‑bathroom apartments and one 2‑bedroom/2‑bathroom unit, offering strong rental demand.
- Prime Bronx location in the desirable Bedford Park/Norwood section, near transportation, shopping, schools, parks, and major thoroughfares.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $328.6k | $44.40 |
| − Vacancy | −$19.1k | −$2.58 |
| EGI | $309.5k | $41.82 |
| − OpEx | −$139.3k | −$18.82 |
| NOI | $170.2k | $23.00 |
7,400 SF · lease $44.40/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.43M
$2.13M – $2.84M
NOI $170,227 @ 7.0% cap · market cap 4.86%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$5.13M
$4.49M – $5.98M
NOI $358,938 @ 7.0% cap · market cap 10.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Bumblebees
High School
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Well-maintained, renovated 4-story multifamily building in Bedford Park/Norwood section.
Where is this apartment building located?
The property is located at 309 Bedford Park Blvd The Bronx, NY.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Full gut renovation completed approximately 8 years ago, including new electrical, plumbing, kitchens, bathrooms, windows, roof, furnaces, and hot water heaters.; Five oversized residential units: **four 5‑bedroom/2‑bathroom apartments and one 2‑bedroom/2‑bathroom unit**, offering strong rental demand.; Prime Bronx location in the desirable Bedford Park/Norwood section, near transportation, shopping, schools, parks, and major thoroughfares.
