Multifamily Apartment
For Sale
$6,660,000
715 E 214th Street, Bronx, NY 10467
For sale multifamily apartment building located at 715 E 214th St in the Bronx.
Property Size24,302 SF
Price / SF$274.05
Days on Market79
Property Features for 715 E 214th Street
General Information
Standard status
Active
Size
24,302 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$2,326
Building Details
Building Size
24,302 SF
Year Built
2013
Listing Agency:
Link NY Realty
Listed By:
Valon Nikci · License #10491202180
(646) 321-9428
Source:
Shawmetro
Added: Jun 22
Changed: Sep 8
Last Checked: Sep 7 at 7:05AM
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
Investment Insights
Based on property information with market context.
This for-sale multifamily apartment building is located at 715 E 214th St in the Bronx.
The property is categorized as an apartment building and residential income property, offering an income-producing residential asset under the multifamily use type.
Additional details regarding the building layout, unit count, amenities, or current income were not provided.
The property is categorized as an apartment building and residential income property, offering an income-producing residential asset under the multifamily use type.
Additional details regarding the building layout, unit count, amenities, or current income were not provided.
Key Highlights
- Multifamily apartment building for sale at 715 E 214th St in the Bronx
- Built in 2013
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
$528,816
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
7.94%
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%
$10,576,320
$10.6M
Cap Rate 7%
$7,554,514
$7.6M
Cap Rate 9%
$5,875,733
$5.9M
Market Conditions
NOI Build-Up for 24,302 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
$1.02M $42.00/SF
− Vacancy
−$59.2K −$2.44/SF
EGI
$961.5K $39.56/SF
− OpEx
−$432.7K −$17.80/SF
NOI
$528.8K $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%
$10,576,320
Cap Rate 7%
$7,554,514
Cap Rate 9%
$5,875,733
Alternative Uses
Best Use
Apartment 5plus
$7.55M
$6.61M – $8.81M
NOI $528,816 @ 7.0% cap · market cap 7.94%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$16.84M
$14.73M – $19.65M
NOI $1,178,770 @ 7.0% cap · market cap 17.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,185
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 - For sale multifamily apartment building located at 715 E 214th St in the Bronx.
Where is this apartment building located?
The property is located at 715 E 214th Street Bronx, NY.
What is the asking price?
The asking price for this property is $6,660,000.
What are key features of this property?
This property features: Multifamily apartment building for sale at 715 E 214th St in the Bronx; Built in 2013
