Brick Apartment Building with
For Sale
$1,375,000
3341 Barker Avenue, Bronx, NY 10467
Free-market multifamily property with varied unit layouts, rear garage parking, and multiple vacant apartments.
Property Size3,886 SF
Days on Market109
Property Features for 3341 Barker Avenue
General Information
Standard status
Active
Size
3,886 SF
Property subtype
Commercial
Zoning
R5A
Units
Unit Mix
3 x 2BR, 3 x 1BR
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$16,824
Building Details
Building Size
3,886 SF
Year Built
1920
Buildings
1
Units
6
Construction
brick
Listing Agency:
Keller Williams Realty NYC Grp
(914) 582-2483
Listed By:
Errol W. Lewis
(914) 582-2483
Source:
Professionalchoicerealty
Added: May 14
Changed: Aug 28
Last Checked: Aug 29 at 10:19AM
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 solid brick apartment building, constructed in 1920, contains nearly 4,000 square feet of residential space. The layout includes 3 two-bedroom apartments and 3 one-bedroom apartments, providing a mix of unit configurations within the property. The building is identified as free-market and 4 units are currently vacant.
A two-car garage is located at the rear, with additional driveway parking for residents and guests. The property is situated at 3341 Barker Avenue in the Olinville neighborhood of the Bronx and carries R5A zoning.
A two-car garage is located at the rear, with additional driveway parking for residents and guests. The property is situated at 3341 Barker Avenue in the Olinville neighborhood of the Bronx and carries R5A zoning.
Key Highlights
- Nearly 4,000 square feet of residential space
- Mix of 3 two‑bedroom and 3 one‑bedroom apartments
- Free‑market building with 4 units currently vacant
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
$84,560
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
6.15%
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%
$1,691,200
$1.7M
Cap Rate 7%
$1,208,000
$1.2M
Cap Rate 9%
$939,556
$939.6K
Market Conditions
NOI Build-Up for 3,886 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
$163.2K $42.00/SF
− Vacancy
−$9.5K −$2.44/SF
EGI
$153.7K $39.56/SF
− OpEx
−$69.2K −$17.80/SF
NOI
$84.6K $21.76/SF
Area
ZIP 10467
Vacancy
5.80%
Lease Rate
$42.00 /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%
$1,691,200
Cap Rate 7%
$1,208,000
Cap Rate 9%
$939,556
Alternative Uses
Best Use
Apartment 5plus
$1.21M
$1.06M – $1.41M
NOI $84,560 @ 7.0% cap · market cap 6.15%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.69M
$2.36M – $3.14M
NOI $188,491 @ 7.0% cap · market cap 13.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
6,185
Businesses Nearby
Explore this area
Business Placement
Demographics for 10467, NY
103,660
Population
40,582
Households
2.6
Avg Household Size
36
Median Age
22%
College-Educated
75%
High-School Grad
2.3 sq mi
ZIP Area
45,070
Density / Sq Mi
$47,806
Median Household Income
$36,949
Median Earnings
$1,505
Median Rent
$425,500
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 - Free-market multifamily property with varied unit layouts, rear garage parking, and multiple vacant apartments.
Where is this apartment building located?
The property is located at 3341 Barker Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Nearly 4,000 square feet of residential space; Mix of 3 two‑bedroom and 3 one‑bedroom apartments; Free‑market building with 4 units currently vacant
