Building Details

Year Built 1920

Stories 3

Units 6

Tenancy Multi

Listing Agency: RIPCO Real Estate

Listed By: Alex Svetlakou · License #NY 10401242416 Show Phone

Source: Crexi

Added: Mar 27 Changed: Oct 5 Last Checked: Oct 7 at 12:48PM

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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 RIPCO Real Estate

Investment Insights

Based on property information with market context.

This multifamily property features six units. The building has a property size of 5852 square feet. It is located at 1838 Westchester Avenue in The Bronx, New York.

Key Highlights

• Multifamily property
• Features 6 units
• Built in 1920

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$186,533

Cap Rate

5.18%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,730,660 $3.7M

Cap Rate 7%

$2,664,757 $2.7M

Cap Rate 9%

$2,072,589 $2.1M

Market Conditions

NOI Build-Up for 5,852 SF

Gross rent

$351.1K $60.00/SF

− Vacancy

−$52.7K −$9.00/SF

EGI

$298.5K $51.00/SF

− OpEx

−$111.9K −$19.13/SF

NOI

$186.5K $31.88/SF

Area

New York, NY

Vacancy

15.00%

Lease Rate

$60.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,730,660

Cap Rate 7%

$2,664,757

Cap Rate 9%

$2,072,589

Alternative Uses

Best Use

Mixed Use

$2.66M

$2.33M – $3.11M (±1% cap)

NOI $186,533 @ 7.0% cap · market cap 5.18%

Second Best

Apartment 5plus

$2.62M

$2.29M – $3.05M (±1% cap)

NOI $183,093 @ 7.0% cap · market cap 5.09%

Theoretical Best

Specialty Retail

$14.57M

$12.75M – $16.99M (±1% cap)

NOI $1,019,652 @ 7.0% cap · market cap 28.32%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Law Firm Real Estate Agency Gym & Fitness Center Skin Care Clinic Dental Office Acupuncture

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

3,202

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

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Apartment building - Six-unit multifamily property available for sale.

Where is this apartment building located?

The property is located at 1838 Westchester Ave New York City, NY.

What is the asking price?

The asking price for this property is $3,600,000.

What are key features of this property?

This property features: Multifamily property; Features 6 units; Built in 1920