Residential Income Property with
For Sale
$849,000
640 W 237TH Street 11A, Bronx, NY 10463
Two-bedroom condominium with expansive glazing, elevated ceilings, and full-service building amenities.
Property Size1,427 SF
Price / SF$594.95
Days on Market805
Property Features for 640 W 237TH Street 11A
General Information
Standard status
Active
Size
1,427 SF
Property subtype
Apartment
Units
Unit Mix
2BR/2BA
Multifamily Units
1
Additional Details
HOA Fee
$107.45
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$9,048
Amenities
top of the line appliances
European Shaker-style cabinetry
washer/dryer
California closet designed
private balcony
radiant heated floors
24 hour concierge
fitness center
lounge & entertainment center
landscaped roof deck
children's playroom
Building Details
Building Size
1,427 SF
Year Built
2007
Listing Agency:
Brown Harris Stevens Riverdale LLC
Listed By:
Sandhya N Tidke
(212) 381-2485
Source:
Carlinwright
Added: Jul 26, 2024
Changed: Oct 6
Last Checked: Oct 7 at 4:26PM
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 Brown Harris Stevens Riverdale LLC
Investment Insights
Based on property information with market context.
This 1,427-square-foot residential income property is configured as a two-bedroom, two-bathroom condominium at Solaria. The home features 10-foot ceilings, floor-to-ceiling windows, a private balcony, in-unit washer and dryer, California Closet storage systems, and a windowed kitchen with premium appliances and wood cabinetry. The primary bathroom includes radiant-heated flooring and a soaking tub.
Building amenities include 24-hour concierge service, a fitness center, resident lounge and entertainment space, landscaped roof deck, and children’s playroom. The property is four blocks from central Riverdale’s restaurants, shops, and services. Bus service is available at the corner, with connections to the 1, 4, and A trains and Metro-North Station, which reaches Grand Central in 25 minutes. The building was completed in 2007.
Building amenities include 24-hour concierge service, a fitness center, resident lounge and entertainment space, landscaped roof deck, and children’s playroom. The property is four blocks from central Riverdale’s restaurants, shops, and services. Bus service is available at the corner, with connections to the 1, 4, and A trains and Metro-North Station, which reaches Grand Central in 25 minutes. The building was completed in 2007.
Key Highlights
- 1,427 SF two‑bedroom, two‑bathroom condominium
- Private balcony with views toward the Long Island Sound, Hudson River, and Palisades
- 10‑foot ceilings and floor‑to‑ceiling windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,826
Cap Rate
3.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$656,520
$656.5K
Cap Rate 7%
$468,943
$468.9K
Cap Rate 9%
$364,733
$364.7K
Market Conditions
NOI Build-Up for 1,427 SF
Gross rent
$63.4K $44.40/SF
− Vacancy
−$3.7K −$2.58/SF
EGI
$59.7K $41.82/SF
− OpEx
−$26.9K −$18.82/SF
NOI
$32.8K $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%
$656,520
Cap Rate 7%
$468,943
Cap Rate 9%
$364,733
Alternative Uses
Best Use
Apartment 5plus
$468.9K
$410.3K – $547.1K
NOI $32,826 @ 7.0% cap · market cap 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$988.8K
$865.2K – $1.15M
NOI $69,217 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,190
Businesses Nearby
Explore this area
Business Placement
Demographics for 10463, NY
71,301
Population
30,602
Households
2.3
Avg Household Size
41
Median Age
44%
College-Educated
85%
High-School Grad
2.8 sq mi
ZIP Area
25,465
Density / Sq Mi
$72,952
Median Household Income
$48,409
Median Earnings
$1,611
Median Rent
$352,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom condominium with expansive glazing, elevated ceilings, and full-service building amenities.
Where is this residential income property located?
The property is located at 640 W 237TH Street 11A Bronx, NY.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: 1,427 SF two‑bedroom, two‑bathroom condominium; Private balcony with views toward the Long Island Sound, Hudson River, and Palisades; 10‑foot ceilings and floor‑to‑ceiling windows
