Renovated 8-Unit Apartment
For Sale
$2,800,000
1265 Elder Ave The, Bronx, NY 10472
Fully occupied free-market apartments with updated systems, individual utility responsibility, and rear parking access.
Property Size5,000 SF
Days on Market56
Property Features for 1265 Elder Ave The
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$6,993
Building Details
Building Size
5,000 SF
Year Built
1935
Units
8
Listing Agency:
Real Broker NY LLC
Listed By:
Shpresa Camaj
(917) 645-6629
Source:
Elliman
Added: Aug 12
Changed: Oct 6
Last Checked: Oct 5 at 5:54PM
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 Real Broker NY LLC
Investment Insights
Based on property information with market context.
This legal multifamily property at 1265 Elder Ave in The Bronx contains 8 apartments, including 7 studios and 1 one-bedroom residence. The building was constructed in 1935 and has undergone a full renovation with updated finishes and systems. Each apartment is served by a mini-split system for heating and air conditioning, along with a dedicated hot water heater. The property is all electric, with tenants responsible for their individual utilities.
Building infrastructure includes 8 water heaters and 9 electric meters. Rear parking is available through a shared driveway. The apartments are free-market units and are currently fully occupied, providing an established residential income profile in the Soundview/Parkchester area. Walk Score is 80, Bike Score is 74, and Transit Score is 100.
Building infrastructure includes 8 water heaters and 9 electric meters. Rear parking is available through a shared driveway. The apartments are free-market units and are currently fully occupied, providing an established residential income profile in the Soundview/Parkchester area. Walk Score is 80, Bike Score is 74, and Transit Score is 100.
Key Highlights
- 8‑unit legal multifamily property with 7 studios and 1 one‑bedroom apartment
- Fully renovated building constructed in 1935
- All 8 apartments are free‑market units and fully occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$115,018
Cap Rate
4.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,300,360
$2.3M
Cap Rate 7%
$1,643,114
$1.6M
Cap Rate 9%
$1,277,978
$1.3M
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$222.0K $44.40/SF
− Vacancy
−$12.9K −$2.58/SF
EGI
$209.1K $41.82/SF
− OpEx
−$94.1K −$18.82/SF
NOI
$115.0K $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 Rate 5%
$2,300,360
Cap Rate 7%
$1,643,114
Cap Rate 9%
$1,277,978
Alternative Uses
Best Use
Apartment 5plus
$1.64M
$1.44M – $1.92M
NOI $115,018 @ 7.0% cap · market cap 4.11%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.46M
$3.03M – $4.04M
NOI $242,525 @ 7.0% cap · market cap 8.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,619
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied free-market apartments with updated systems, individual utility responsibility, and rear parking access.
Where is this apartment building located?
The property is located at 1265 Elder Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 8‑unit legal multifamily property with 7 studios and 1 one‑bedroom apartment; Fully renovated building constructed in 1935; All 8 apartments are free‑market units and fully occupied
