57-Unit Apartment
For Sale
$10,260,000
3961 Carpenter Avenue, Bronx, NY 10466
Completed in 2012, the six-story residential property includes elevator service and R7-1 zoning.
Property Size40,660 SF
Price / SF$252.34
Days on Market127
Property Features for 3961 Carpenter Avenue
General Information
Standard status
Active
Size
40,660 SF
Elevators
Yes
Property subtype
Commercial
Zoning
R7-1
Additional Details
Gross Income
$1,150,080
Public Transit
Yes
Multifamily Units
57
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$21,002
Building Details
Building Size
40,660 SF
Year Built
2012
Stories
6
Units
57
Listing Agency:
Link NY Realty
(646) 827-2256
Listed By:
Valon Nikci · License #10491202180
(646) 321-9428
Source:
Croninreale
Added: Jun 22
Changed: Oct 26
Last Checked: Oct 26 at 3:58AM
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 Link NY Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This six-story apartment property at 3961 Carpenter Avenue contains 57 residential units across 40,660 square feet. Built in 2012, the building has elevator service and is zoned R7-1.
The property is in the Wakefield section of the Bronx. Public transportation, major highways, shops, restaurants, and schools are identified among the surrounding area’s amenities.
The property is in the Wakefield section of the Bronx. Public transportation, major highways, shops, restaurants, and schools are identified among the surrounding area’s amenities.
Key Highlights
- 57 residential units
- 40,660 square feet
- Six‑story building with elevator service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$935,328
Cap Rate
9.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$18,706,560
$18.7M
Cap Rate 7%
$13,361,829
$13.4M
Cap Rate 9%
$10,392,533
$10.4M
Market Conditions
NOI Build-Up for 40,660 SF
Gross rent
$1.81M $44.40/SF
− Vacancy
−$104.7K −$2.58/SF
EGI
$1.70M $41.82/SF
− OpEx
−$765.3K −$18.82/SF
NOI
$935.3K $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 Rate 5%
$18,706,560
Cap Rate 7%
$13,361,829
Cap Rate 9%
$10,392,533
Alternative Uses
Best Use
Apartment 5plus
$13.36M
$11.69M – $15.59M
NOI $935,328 @ 7.0% cap · market cap 9.12%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$28.17M
$24.65M – $32.87M
NOI $1,972,217 @ 7.0% cap · market cap 19.22%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
57
Residential units
Location Intelligence
Trade Area within ½ mile
2,581
Businesses Nearby
Explore this area
Business Placement
Demographics for 10466, NY
70,420
Population
26,303
Households
2.7
Avg Household Size
38
Median Age
26%
College-Educated
81%
High-School Grad
2.0 sq mi
ZIP Area
35,210
Density / Sq Mi
$66,328
Median Household Income
$44,053
Median Earnings
$1,528
Median Rent
$605,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Completed in 2012, the six-story residential property includes elevator service and R7-1 zoning.
Where is this apartment building located?
The property is located at 3961 Carpenter Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $10,260,000.
What are key features of this property?
This property features: 57 residential units; 40,660 square feet; Six‑story building with elevator service
