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    4116 Carpenter Ave The Bronx, NY 10466

    Sponsored
    For Sale
    $6,900,000

    63-unit apartment building, high NOI, excellent location.

    Property size:
    50,830 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a well-maintained, five-story, 63-unit apartment building located at 4116 Carpenter Avenue in the Bronx, NY 10466. The property boasts 50,830 square feet on a 13,285 square foot lot, zoned R6A. Built in 1927, the building features a classic Tudor style with original lobby and marble stairwell. The unit mix includes 36 one-bedroom, 15 two-bedroom, and 2 three-bedroom apartments (including a superintendent's unit). Recent renovations include updated systems, a 5,000-gallon dual-fuel capable boiler, a 9-camera surveillance system, and a silver-coat rubber roof. Many apartments have been renovated with sheetrock and circuit breakers. The building offers a strong financial profile with an asking price of $6,900,000, a price per square foot of $135.75, a price per unit of $109,523.81, and a net operating income (NOI) of $415,196, resulting in a 6.02% cap rate. Its prime location offers convenient access to shopping, restaurants, public transportation (including the #2 and #5 trains and several bus lines), major highways, and Montefiore Hospital. This property represents a compelling investment opportunity in a vibrant and growing Bronx neighborhood. Lead testing has been conducted on the units. The building's mechanicals have been well-maintained. The block and lot number is 04832-70. The building's floor area ratio (FAR) as built is 3.00.

    Property Features for 4116 Carpenter Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    50,830 SF
    Class
    C

    Building Details

    Year Built
    1927
    Stories
    5
    Units
    63

    HighLights

    • Well‑maintained, 63‑unit Bronx apartment building, first time on the market in 38 years.
    • Original lobbies and stairwells in excellent condition.
    • 5,000‑gallon above‑ground #4 fuel oil tank.
    • Desirable, safe, and quiet neighborhood near Montefiore Hospital.
    • Excellent public transportation access: nearby East 233rd Street MTA train station, Metro‑North, and multiple bus routes.
    • Many apartments updated with drywall and upgraded electrical systems.
    Property Profile Location Intelligence

    Current Use by Public Records

    GJG Collection Haute Couture Fashion House

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    The Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.86140628061
    Latitude
    40.892256455974

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    FAQs

    What type of property is this?
    Multifamily property - 63-unit apartment building, high NOI, excellent location.
    Where is this multifamily property located?
    The property is located at 4116 Carpenter Ave The Bronx, NY.
    What is the asking price?
    The asking price for this property is $6,900,000.
    What are key features of this property?
    This property features: Well-maintained, 63-unit Bronx apartment building, first time on the market in 38 years.; Original lobbies and stairwells in excellent condition.; 5,000-gallon above-ground #4 fuel oil tank.
    Request Owner's contact information
    4116 Carpenter Ave The Bronx, NY 10466
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4116 Carpenter Ave The Bronx, NY 10466
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