20-Unit Apartment
New
For Sale
$2,750,000
3608 & 3644 Holland Ave The, Bronx, NY 10467
Two apartment buildings offer a mix of one- and two-bedroom layouts.
Property Size6,092 SF
Days on Market2
Property Features for 3608 & 3644 Holland Ave The
General Information
Standard status
Active
Size
6,092 SF
Property subtype
Commercial
Units
Unit Mix
10 x 2BR, 10 x 1BR
Multifamily Units
20
Taxes and HOA fees
Annual Taxes
$30,000
Building Details
Building Size
6,092 SF
Year Built
1929
Buildings
2
Units
20
Listing Agency:
Strive Realty Inc.
Listed By:
Maurice A. Banton · License #10401219592
(914) 320-0325
Source:
Elliman
Added: Sep 26
Last Checked: Sep 26 at 3:04PM
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 Strive Realty Inc.
Investment Insights
Based on property information with market context.
The 20-unit offering includes two apartment buildings. One has eight units: seven two-bedroom apartments and one one-bedroom apartment. The other contains 12 units, comprising three two-bedroom and nine one-bedroom apartments. Both buildings were built in 1929, and their roofs are less than 10 years old. Tenants pay their own Con Edison charges for cooking and electricity.
The property is in The Bronx. Its Walk Score is 83, Transit Score is 82, and Bike Score is 74.
The property is in The Bronx. Its Walk Score is 83, Transit Score is 82, and Bike Score is 74.
Key Highlights
- Two apartment buildings with 20 units in total
- Eight‑unit building: 7 two‑bedroom apartments and 1 one‑bedroom apartment
- 12‑unit building: 3 two‑bedroom apartments and 9 one‑bedroom apartments
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
$132,563
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
4.82%
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%
$2,651,260
$2.7M
Cap Rate 7%
$1,893,757
$1.9M
Cap Rate 9%
$1,472,922
$1.5M
Market Conditions
NOI Build-Up for 6,092 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
$255.9K $42.00/SF
− Vacancy
−$14.8K −$2.44/SF
EGI
$241.0K $39.56/SF
− OpEx
−$108.5K −$17.80/SF
NOI
$132.6K $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%
$2,651,260
Cap Rate 7%
$1,893,757
Cap Rate 9%
$1,472,922
Alternative Uses
Best Use
Apartment 5plus
$1.89M
$1.66M – $2.21M
NOI $132,563 @ 7.0% cap · market cap 4.82%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$4.22M
$3.69M – $4.92M
NOI $295,493 @ 7.0% cap · market cap 10.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
20
Residential units
Location Intelligence
Trade Area within ½ mile
2,419
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Two apartment buildings offer a mix of one- and two-bedroom layouts.
Where is this apartment building located?
The property is located at 3608 & 3644 Holland Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Two apartment buildings with 20 units in total; Eight‑unit building: 7 two‑bedroom apartments and 1 one‑bedroom apartment; 12‑unit building: 3 two‑bedroom apartments and 9 one‑bedroom apartments
