Bank-Owned Multifamily
New
For Sale
$799,999
3340 Fish Ave The, Bronx, NY 10469
Offered as-is without interior access or leases available before closing.
Property Size2,240 SF
Days on Market6
Property Features for 3340 Fish Ave The
General Information
Standard status
Active
Size
2,240 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$6,530
Building Details
Building Size
2,240 SF
Year Built
1920
Units
3
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Gregory Parks · License #10301223131
(631) 858-2452
Source:
Elliman
Added: Aug 28
Changed: Aug 30
Last Checked: Sep 1 at 9:32PM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This multifamily property at 3340 Fish Ave in The Bronx was built in 1920 and is being sold by a bank. The transaction is offered on an as-is basis, with no interior access available before closing and no leases provided.
A photograph of the Certificate of Occupancy is included with the property photos. The address records a Walk Score of 83, a Transit Score of 82, and a Bike Score of 74, indicating access to walking, transit, and bicycle transportation options.
A photograph of the Certificate of Occupancy is included with the property photos. The address records a Walk Score of 83, a Transit Score of 82, and a Bike Score of 74, indicating access to walking, transit, and bicycle transportation options.
Key Highlights
- Bank‑owned multifamily property at 3340 Fish Ave, The Bronx, NY 10469
- Built in 1920
- Sale is on an as‑is basis
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
$51,528
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
6.44%
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%
$1,030,560
$1.0M
Cap Rate 7%
$736,114
$736.1K
Cap Rate 9%
$572,533
$572.5K
Market Conditions
NOI Build-Up for 2,240 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
$99.5K $44.40/SF
− Vacancy
−$5.8K −$2.58/SF
EGI
$93.7K $41.82/SF
− OpEx
−$42.2K −$18.82/SF
NOI
$51.5K $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%
$1,030,560
Cap Rate 7%
$736,114
Cap Rate 9%
$572,533
Alternative Uses
Best Use
Apartment 5plus
$736.1K
$644.1K – $858.8K
NOI $51,528 @ 7.0% cap · market cap 6.44%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.55M
$1.36M – $1.81M
NOI $108,651 @ 7.0% cap · market cap 13.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,114
Businesses Nearby
Explore this area
Business Placement
Demographics for 10469, NY
71,571
Population
25,082
Households
2.9
Avg Household Size
39
Median Age
29%
College-Educated
83%
High-School Grad
2.4 sq mi
ZIP Area
29,821
Density / Sq Mi
$76,018
Median Household Income
$45,857
Median Earnings
$1,653
Median Rent
$640,400
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 - Offered as-is without interior access or leases available before closing.
Where is this multifamily property located?
The property is located at 3340 Fish Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: Bank‑owned multifamily property at 3340 Fish Ave, The Bronx, NY 10469; Built in 1920; Sale is on an as‑is basis
