Five-Unit Apartment
For Sale
$2,054,500
764 E 213th Street, Bronx, NY 10467
Two-building multifamily property with free-market apartments and a mix of renovated and well-maintained units.
Property Size4,980 SF
Price / SF$412.55
Days on Market153
Property Features for 764 E 213th Street
General Information
Standard status
Active
Size
4,980 SF
Property subtype
Multi Family
Zoning
R6A
Additional Details
Cap Rate
8.7%
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$17,249
Building Details
Building Size
4,980 SF
Year Built
1912
Buildings
2
Listing Agency:
Keller Williams Realty NYC Grp
(718) 697-6800
Listed By:
Kenneth Fuentes · License #10401214433
Source:
Shawmetro
Added: Mar 15
Changed: Aug 12
Last Checked: Aug 13 at 11:50AM
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 five-unit apartment property includes two separate buildings totaling 4,980 square feet. The front structure contains three apartments, including one four-bedroom unit and two three-bedroom units, along with a walk-out basement. The rear building offers two three-bedroom duplex apartments, each configured with 1.5 baths. Four of the apartments have undergone gut renovations, while both buildings are described as well maintained.
The property occupies a 25 x 160 lot at 764 E 213th Street in the Bronx, within the Olinville section, and carries R6A zoning. All five apartments are free-market units. The property was built in 1912 and is represented with an 8.7% cap rate.
The property occupies a 25 x 160 lot at 764 E 213th Street in the Bronx, within the Olinville section, and carries R6A zoning. All five apartments are free-market units. The property was built in 1912 and is represented with an 8.7% cap rate.
Key Highlights
- Five apartment units across two buildings totaling 4,980 square feet
- Front building includes one 4‑bedroom and two 3‑bedroom apartments plus a walk‑out basement
- Rear building contains two 3‑bedroom / 1.5‑bath duplex 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
$108,366
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
5.27%
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%
$2,167,320
$2.2M
Cap Rate 7%
$1,548,086
$1.5M
Cap Rate 9%
$1,204,067
$1.2M
Market Conditions
NOI Build-Up for 4,980 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
$209.2K $42.00/SF
− Vacancy
−$12.1K −$2.44/SF
EGI
$197.0K $39.56/SF
− OpEx
−$88.7K −$17.80/SF
NOI
$108.4K $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%
$2,167,320
Cap Rate 7%
$1,548,086
Cap Rate 9%
$1,204,067
Alternative Uses
Best Use
Apartment 5plus
$1.55M
$1.35M – $1.81M
NOI $108,366 @ 7.0% cap · market cap 5.27%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.45M
$3.02M – $4.03M
NOI $241,555 @ 7.0% cap · market cap 11.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
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
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 - Two-building multifamily property with free-market apartments and a mix of renovated and well-maintained units.
Where is this apartment building located?
The property is located at 764 E 213th Street Bronx, NY.
What is the asking price?
The asking price for this property is $2,054,500.
What are key features of this property?
This property features: Five apartment units across two buildings totaling 4,980 square feet; Front building includes one 4‑bedroom and two 3‑bedroom apartments plus a walk‑out basement; Rear building contains two 3‑bedroom / 1.5‑bath duplex apartments
