Turnkey Multifamily Investment
For Sale
$1,080,000
1321 Lafayette Ave The, Bronx, NY 10474
High-yield Bronx multifamily property with immediate ROI and upgraded interiors.
Property Size2,400 SF
Price / SF$348.39
Days on Market113
Property Features for 1321 Lafayette Ave The
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$7,796
Building Details
Building Size
2,400 SF
Year Built
2000
Units
3
Listing Agency:
Motivated Access Realty Corp.
(917) 685-0021
Listed By:
Katherine Rivera · License #10311208838
(917) 685-0021
Source:
Elliman
Added: Apr 24
Changed: Aug 12
Last Checked: Aug 13 at 6:59AM
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 Motivated Access Realty Corp.
Investment Insights
Based on property information with market context.
This multifamily property, spanning over 3,100 square feet, presents a turnkey investment opportunity with a 7.3% cap rate. Located in the Bronx, the property offers immediate return on investment. It is suitable for investors seeking a high-performing addition to their portfolio or for those looking for a primary residence that generates income. The building is being sold with two units already occupied by tenants, ensuring immediate cash flow. The property is sold in "as-is" condition and features upgraded interiors. Residents can enjoy expansive city views, including views of local fireworks displays. Transportation is facilitated by easy access to the 6 train and major bus routes, providing convenient commutes to Manhattan and other destinations. The location has a walk score of 91, indicating it is a walker's paradise, a transit score of 90, indicating it is a rider's paradise, and a bike score of 53, indicating it is bikeable.
Key Highlights
- Turnkey investment with a 7.3% Cap Rate for immediate ROI.
- 3,100+ sq. ft. multi‑family property in the Bronx.
- Two units are already occupied with reliable tenants, ensuring immediate cash flow.
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
$71,311
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
6.60%
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%
$1,426,220
$1.4M
Cap Rate 7%
$1,018,729
$1.0M
Cap Rate 9%
$792,344
$792.3K
Market Conditions
NOI Build-Up for 3,100 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
$137.6K $44.40/SF
− Vacancy
−$8.0K −$2.58/SF
EGI
$129.7K $41.82/SF
− OpEx
−$58.3K −$18.82/SF
NOI
$71.3K $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%
$1,426,220
Cap Rate 7%
$1,018,729
Cap Rate 9%
$792,344
Alternative Uses
Best Use
Apartment 5plus
$1.02M
$891.4K – $1.19M
NOI $71,311 @ 7.0% cap · market cap 6.60%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.15M
$1.88M – $2.51M
NOI $150,366 @ 7.0% cap · market cap 13.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,123
Businesses Nearby
Explore this area
Business Placement
Demographics for 10474, NY
12,013
Population
4,092
Households
2.9
Avg Household Size
33
Median Age
15%
College-Educated
73%
High-School Grad
1.5 sq mi
ZIP Area
8,009
Density / Sq Mi
$41,279
Median Household Income
$31,084
Median Earnings
$1,406
Median Rent
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - High-yield Bronx multifamily property with immediate ROI and upgraded interiors.
Where is this multifamily property located?
The property is located at 1321 Lafayette Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $1,080,000.
What are key features of this property?
This property features: Turnkey investment with a **7.3% Cap Rate** for immediate ROI.; 3,100+ sq. ft. multi‑family property in the Bronx.; Two units are already occupied with reliable tenants, ensuring immediate cash flow.
