4-Unit Multifamily
For Sale
$925,000
859 Penfield Street, Bronx, NY 10470
Two brick two-family homes and a separate three-car garage parcel are included in this Bronx property package.
Property Size2,020 SF
Price / SF$457.92
Days on Market11
Property Features for 859 Penfield Street
General Information
Standard status
Active
Size
2,020 SF
Total Parking Spaces
3
Property subtype
Residential Income
Zoning
R4
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 1-bedroom, 1 x Studio, 2 x 2-bedroom
Multifamily Units
4
Individually Metered Utilities
gas
Additional Details
Gross Income
$57,000
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$5,726
Amenities
First Floor Bedroom
First Floor Full Bath
Building Details
Building Size
2,020 SF
Year Built
1935
Buildings
2
Units
4
Construction
brick and stone
Listing Agency:
Exit Realty DKC
(718) 676-1371
Listed By:
Justin Simmons
(917) 254-2103
Source:
Croninreale
Added: Oct 14
Changed: Oct 24
Last Checked: Oct 23 at 4:36PM
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 Exit Realty DKC
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Investment Insights
Based on property information with market context.
This multifamily offering combines two semi-detached, brick-and-stone two-family homes at 857 and 859 Penfield Street, plus a separate lot with a three-car garage. Built in 1935, the homes feature hardwood floors and natural light. The four legal apartments comprise a one-bedroom, a studio, and two two-bedroom units; three are occupied, while the studio is vacant. The 859 building also has a basement with a half bathroom, bonus room, mechanicals, and separate exit, along with attic storage. Recent improvements include a renovated roof and a new gas boiler.
Both lots are zoned R4. The garage occupies its own 2,375-square-foot lot on Murdock Avenue and requires repair work. The Penfield parcel includes yard space. The property is minutes from the 2 and 5 trains, Wakefield Metro-North station, and Bronx River Parkway, with access to Westchester, shopping, and parks.
Both lots are zoned R4. The garage occupies its own 2,375-square-foot lot on Murdock Avenue and requires repair work. The Penfield parcel includes yard space. The property is minutes from the 2 and 5 trains, Wakefield Metro-North station, and Bronx River Parkway, with access to Westchester, shopping, and parks.
Key Highlights
- Four legal apartments across two semi‑detached two‑family homes; one studio is vacant
- Three‑car garage on a separate 2,375 sq ft lot on Murdock Avenue; repair work is needed
- Both lots are zoned R4
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,311
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,026,220
$1.0M
Cap Rate 7%
$733,014
$733.0K
Cap Rate 9%
$570,122
$570.1K
Market Conditions
NOI Build-Up for 2,020 SF
Gross rent
$77.6K $38.40/SF
− Vacancy
−$4.3K −$2.11/SF
EGI
$73.3K $36.29/SF
− OpEx
−$22.0K −$10.89/SF
NOI
$51.3K $25.40/SF
Area
Bronx, NY
Vacancy
5.50%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,026,220
Cap Rate 7%
$733,014
Cap Rate 9%
$570,122
Alternative Uses
Best Use
Multifamily LT 5
$733.0K
$641.4K – $855.2K
NOI $51,311 @ 7.0% cap · market cap 5.55%
Second Best
Apartment 5plus
$663.8K
$580.8K – $774.5K
NOI $46,467 @ 7.0% cap · market cap 5.02%
Theoretical Best
Warehouse
$1.40M
$1.22M – $1.63M
NOI $97,980 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,103
Businesses Nearby
Explore this area
Business Placement
Demographics for 10470, NY
16,686
Population
6,869
Households
2.4
Avg Household Size
38
Median Age
41%
College-Educated
86%
High-School Grad
1.4 sq mi
ZIP Area
11,919
Density / Sq Mi
$81,134
Median Household Income
$54,227
Median Earnings
$1,656
Median Rent
$500,400
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?
Multifamily property - Two brick two-family homes and a separate three-car garage parcel are included in this Bronx property package.
Where is this multifamily property located?
The property is located at 859 Penfield Street Bronx, NY.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Four legal apartments across two semi‑detached two‑family homes; one studio is vacant; Three‑car garage on a separate 2,375 sq ft lot on Murdock Avenue; repair work is needed; Both lots are zoned R4
