4116 Carpenter Ave The Bronx, NY 10466
- Apartment buildings
- 50,830 SF
Current Use by Public Records
- GJG Collection / Haute Couture Fashion House
Property Details for 4116 Carpenter Ave
- Year built
- 1927
- Property size
- 50,830 SF
- Property type
- Apartment buildings
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- The Bronx
- County
- Bronx
- State
- New York
- Longitude
- -73.8614
- Latitude
- 40.8923
