Renovated 7-Unit Multifamily
For Sale
$3,709,000
1133 Midland Avenue, Bronxville, NY 10708
Seven renovated condominium residences with varied one- and two-bedroom layouts, private outdoor space, and in-unit laundry in select units.
Property Size6,554 SF
Price / SF$565.91
Days on Market1204
Property Features for 1133 Midland Avenue
General Information
Standard status
Active
Size
6,554 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 2BR/2BA (1254 sq ft), 3 x 2BR/2BA (1004 sq ft), 1 x 1BR/1BA (830 sq ft), 1 x 1BR/1BA (738 sq ft), 1 x 1BR/1BA (719 sq ft)
Multifamily Units
7
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$16,135
Amenities
private balcony
in-unit washer/dryer
No, No, Assigned
https://3dapartment.com/embed/sYQACsU0AAMe%2B?brand=1&overlay=1
Square Feet
Public
6,554.00
2+ Common Walls
No
Assigned
Building Details
Year Built
1953
Listing Agency:
ISO Property Corp
(917) 733-6686
Listed By:
Isaac Oserin
(917) 733-6686
Source:
Compass
Added: May 17, 2023
Changed: Aug 30
Last Checked: Aug 31 at 10:22PM
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 ISO Property Corp
Investment Insights
Based on property information with market context.
This multifamily offering comprises seven newly renovated condominium residences at 1133 Midland Avenue in Bronxville. The unit mix includes one 2-bedroom/2-bath residence measuring 1,254 sq ft with a private balcony and in-unit washer/dryer, three 2-bedroom/2-bath residences measuring 1,004 sq ft each with in-unit washer/dryers, and three 1-bedroom/1-bath residences ranging from 719 to 830 sq ft. The building was constructed in 1953.
Assigned parking is immediately available. The property is near Sarah Lawrence College, the Fleetwood and Bronxville Metro North stations, and Manhattan access. Shopping and dining destinations in the surrounding area include Cross County Shopping Center, Ridge Hill, Whole Foods, Costco, Stew Leonard's, and the Village of Bronxville.
Assigned parking is immediately available. The property is near Sarah Lawrence College, the Fleetwood and Bronxville Metro North stations, and Manhattan access. Shopping and dining destinations in the surrounding area include Cross County Shopping Center, Ridge Hill, Whole Foods, Costco, Stew Leonard's, and the Village of Bronxville.
Key Highlights
- Seven newly renovated condominium units offered together
- Unit mix includes four 2‑bedroom/2‑bath and three 1‑bedroom/1‑bath residences
- Largest residence measures 1,254 sq ft and includes a private balcony
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
$145,644
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
3.93%
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%
$2,912,880
$2.9M
Cap Rate 7%
$2,080,629
$2.1M
Cap Rate 9%
$1,618,267
$1.6M
Market Conditions
NOI Build-Up for 6,554 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
$291.0K $44.40/SF
− Vacancy
−$26.2K −$4.00/SF
EGI
$264.8K $40.40/SF
− OpEx
−$119.2K −$18.18/SF
NOI
$145.6K $22.22/SF
Area
Yonkers, NY
Vacancy
9.00%
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%
$2,912,880
Cap Rate 7%
$2,080,629
Cap Rate 9%
$1,618,267
Alternative Uses
Best Use
Apartment 5plus
$2.08M
$1.82M – $2.43M
NOI $145,644 @ 7.0% cap · market cap 3.93%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.27M
$1.98M – $2.64M
NOI $158,592 @ 7.0% cap · market cap 4.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
931
Businesses Nearby
Explore this area
Business Placement
Demographics for 10708, NY
22,299
Population
10,004
Households
2.2
Avg Household Size
45
Median Age
65%
College-Educated
95%
High-School Grad
2.9 sq mi
ZIP Area
7,689
Density / Sq Mi
$121,107
Median Household Income
$80,556
Median Earnings
$2,161
Median Rent
$496,800
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?
Multifamily property - Seven renovated condominium residences with varied one- and two-bedroom layouts, private outdoor space, and in-unit laundry in select units.
Where is this multifamily property located?
The property is located at 1133 Midland Avenue Bronxville, NY.
What is the asking price?
The asking price for this property is $3,709,000.
What are key features of this property?
This property features: Seven newly renovated condominium units offered together; Unit mix includes four 2‑bedroom/2‑bath and three 1‑bedroom/1‑bath residences; Largest residence measures 1,254 sq ft and includes a private balcony
