Rent-Stabilized 6-Unit Apartment
For Sale
$995,000
1976 Cross Bronx Expressway, Bronx, NY 10472
Six-unit rent-stabilized building, fully occupied and well-maintained, offering rental income in a commuter corridor.
Property Size3,400 SF
Days on Market68
Property Features for 1976 Cross Bronx Expressway
General Information
Standard status
Active
Size
3,400 SF
Property subtype
Commercial
Zoning
R6
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$14,784
Building Details
Building Size
3,400 SF
Year Built
1924
Units
6
Listing Agency:
Metro Star Realty LLC
(917) 362-3885
Listed By:
Ameer M. Moflehi · License #10401398315
(917) 362-3885
Source:
Cohenandcohenrealty
Added: Jun 17
Changed: Aug 8
Last Checked: Aug 22 at 12:53PM
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 Metro Star Realty LLC
Investment Insights
Based on property information with market context.
This offering presents a six-unit apartment building operating under rent-stabilization. The property is described as fully occupied and well-maintained throughout, with current tenants in place. It is positioned for buyers looking to acquire a small multifamily asset with existing in-place income.
The building is located in the Bronx at 1976 Cross Bronx Expressway, NY 10472. Public remarks also note proximity to schools, medical clinics, and major shopping centers, along with commuter access via the nearby 6 train for quick trips to Manhattan.
For investors and owner-occupants considering a rental property purchase, the fully occupied status and rent-stabilized framework are key considerations. The property may also appeal to buyers seeking an acquisition where the existing tenant profile and current occupancy reduce near-term leasing risk, based on the information provided. Serious buyers are invited to inquire for additional details and to confirm terms and condition through due diligence.
The building is located in the Bronx at 1976 Cross Bronx Expressway, NY 10472. Public remarks also note proximity to schools, medical clinics, and major shopping centers, along with commuter access via the nearby 6 train for quick trips to Manhattan.
For investors and owner-occupants considering a rental property purchase, the fully occupied status and rent-stabilized framework are key considerations. The property may also appeal to buyers seeking an acquisition where the existing tenant profile and current occupancy reduce near-term leasing risk, based on the information provided. Serious buyers are invited to inquire for additional details and to confirm terms and condition through due diligence.
Key Highlights
- 6‑unit rent‑stabilized building built in 1924
- Fully occupied with rental income from all units
- Legally protected rent‑stabilized income (per provided remarks)
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
$78,212
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
7.86%
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%
$1,564,240
$1.6M
Cap Rate 7%
$1,117,314
$1.1M
Cap Rate 9%
$869,022
$869.0K
Market Conditions
NOI Build-Up for 3,400 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
$151.0K $44.40/SF
− Vacancy
−$8.8K −$2.58/SF
EGI
$142.2K $41.82/SF
− OpEx
−$64.0K −$18.82/SF
NOI
$78.2K $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%
$1,564,240
Cap Rate 7%
$1,117,314
Cap Rate 9%
$869,022
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$977.7K – $1.30M
NOI $78,212 @ 7.0% cap · market cap 7.86%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.36M
$2.06M – $2.75M
NOI $164,917 @ 7.0% cap · market cap 16.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,750
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit rent-stabilized building, fully occupied and well-maintained, offering rental income in a commuter corridor.
Where is this apartment building located?
The property is located at 1976 Cross Bronx Expressway Bronx, NY.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 6‑unit rent‑stabilized building built in 1924; Fully occupied with rental income from all units; Legally protected rent‑stabilized income (per provided remarks)
