Parkchester Multifamily Investment
1943 Gleason Avenue Bronx, NY 10472
1943 Gleason Avenue, Bronx, NY, 10472
$1,295,000
For Sale
$1,295,000
Well-maintained 6-unit building with renovated apartments and upside potential.
Property Size4,320 SF
Price / SF$299.77
Days on Market1259
Property Features for 1943 Gleason Avenue
General Information
- Standard status
- Active
- Size
- 4,320 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1928
Listing agency
Keller Williams Realty NYC Grp
(718) 697-6800
Listed by
Kenneth Fuentes
(718) 697-6800
Source
Compass
Added: Feb 8, 2023 Updated: Jul 10 at 12:29PM Checked: Jul 19 at 5:23AM
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 Keller Williams Realty NYC Grp
Investment Insights
Based on property information with market context.
This well-maintained 6-unit building, located in the Parkchester section, presents an opportunity to expand a rental portfolio. All units have been renovated within the last 5 years. The building comprises four 1-bedroom apartments and two 2-bedroom apartments. Currently offered at a 6% cap rate, the property provides upside potential. The building area is 4320 square feet. Another property at 1945 Gleason is also for sale.
Key Highlights
- Gut renovated units within the last 5 years
- Tremendous rent upside due to below‑market rents
- Offered at a 6% cap rate
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $191.8k | $44.40 |
| − Vacancy | −$11.1k | −$2.58 |
| EGI | $180.7k | $41.82 |
| − OpEx | −$81.3k | −$18.82 |
| NOI | $99.4k | $23.00 |
4,320 SF · lease $44.40/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.42M
$1.24M – $1.66M
NOI $99,376 @ 7.0% cap · market cap 7.67%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.99M
$2.62M – $3.49M
NOI $209,542 @ 7.0% cap · market cap 16.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - Well-maintained 6-unit building with renovated apartments and upside potential.
Where is this apartment building located?
The property is located at 1943 Gleason Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Gut renovated units within the last 5 years; Tremendous rent upside due to below‑market rents; Offered at a 6% cap rate
