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1215 Elder Ave 12 Unit Apartment Building $2,686,125 CAD ($223,844 CAD/Unit) 9.75% Cap Rate Bronx, NY 10472
Investment Highlights
- Calling All Investors, Developers & End-Users!!! 11 Unit Bronx Apartment Building Near Westchester Ave. For Sale!!!
- Located In The Heart Of Park Versailles Just Off Busy Westchester Ave. & Situated Between The Bronx River Pkwy., I-95, I-278 & Sheridan Blvd.!!!
- This Property Offers HUGE Upside Potential!!!
- The Building Features Excellent Signage, Great Exposure, C4-2 (R6 Equivalent) Zoning, High 9’ Ceilings, (11) 3 Br. Apartments, Large Rear Yard, +++!!
- Neighbors Include Chase Bank, Bank Of America, Verizon, T-Mobile, AT & T, Extra Space Storage, CubeSmart Self Storage, Boost Mobile, CVS, +++!!!
- This Could Be Your Next Development Site Or The Next Home For Your Business!!!
Executive Summary
Calling All Investors, Developers & End-Users!!! 11 Unit Bronx Apartment Building Near Westchester Ave. For Sale!!! The Building Features Excellent Signage, Great Exposure, C4-2 (R6 Equivalent) Zoning, High 9’ Ceilings, (11) 3 Br. Apartments, 5 Stories, Large Rear Yard, All New LED Lighting, 3 Phase Power, A/C, +++!!!! The Property Is Located In The Heart Of Park Versailles Just Off Busy Westchester Avenue!!! The Property Is Situated Between The Bronx River Pkwy., I-95, I-278 & Sheridan Blvd.!!! Neighbors Include Chase Bank, Bank Of America, Verizon, T-Mobile, AT & T, Extra Space Storage, CubeSmart Self Storage, Boost Mobile, CVS, Dunkin’, CityMD, Shell, BP Gas, Foot Locker, Cookie’s Department Stores, McDonald’s, Burger King, Papa John’s, Domino’s, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!!
Income:
Unit 1 (3 Br. Apt.): $23,870.64 Ann.; Lease Exp.: 11/30/26.
Unit 2 (3 Br. Apt.): $27,710.04 Ann. Lease Exp.: 11/30/27.
Unit 3 (3 Br. Apt.): $26,694.48 Ann.; Lease Exp.: 10/31/27.
Unit 4 (3 Br. Apt.): $13,501.20 Ann.; Lease Exp.: 7/31/27.
Unit 5 (3 Br. Apt.): $23,870.64 Ann.; Lease Exp.: 12/31/26.
Unit 6 (3 Br. Apt.): $31,866.24 Ann.; Lease Exp.: 11/30/26.
Unit 7 (3 Br. Apt.): $18,014.16 Ann.; Lease Exp.: 12/31/27.
Unit 8 (3 Br. Apt.): $21,845.88 Ann.; Lease Exp.: 8/14/27.
Unit 9 (3 Br. Apt.): $29,925.12 Ann.; Lease Exp.: 3/31/26.
Unit 10 (3 Br. Apt.): $25,299.72 Ann.; Lease Exp.: 11/30/26.
Unit 11 (3 Br. Apt.): $23,789.88 Ann.; Lease Exp.: 10/31/27.
Gross Income: $266,388 Ann.
Expenses:
Gas: $21,865.40 Ann.
Electric: $2,500 Ann. (Common Areas Only)
Maintenance & Repairs: $5,500 Ann.
Insurance: $10,000 Ann.
Water & Sewer: $14,317.93 Ann.
Taxes: $22,166.32 Ann.
Total Expenses: $76,349.65 Ann.
Net Operating Income (NOI): $190,038.35 Ann. (9.75 Cap!!!)
Income:
Unit 1 (3 Br. Apt.): $23,870.64 Ann.; Lease Exp.: 11/30/26.
Unit 2 (3 Br. Apt.): $27,710.04 Ann. Lease Exp.: 11/30/27.
Unit 3 (3 Br. Apt.): $26,694.48 Ann.; Lease Exp.: 10/31/27.
Unit 4 (3 Br. Apt.): $13,501.20 Ann.; Lease Exp.: 7/31/27.
Unit 5 (3 Br. Apt.): $23,870.64 Ann.; Lease Exp.: 12/31/26.
Unit 6 (3 Br. Apt.): $31,866.24 Ann.; Lease Exp.: 11/30/26.
Unit 7 (3 Br. Apt.): $18,014.16 Ann.; Lease Exp.: 12/31/27.
Unit 8 (3 Br. Apt.): $21,845.88 Ann.; Lease Exp.: 8/14/27.
Unit 9 (3 Br. Apt.): $29,925.12 Ann.; Lease Exp.: 3/31/26.
Unit 10 (3 Br. Apt.): $25,299.72 Ann.; Lease Exp.: 11/30/26.
Unit 11 (3 Br. Apt.): $23,789.88 Ann.; Lease Exp.: 10/31/27.
Gross Income: $266,388 Ann.
Expenses:
Gas: $21,865.40 Ann.
Electric: $2,500 Ann. (Common Areas Only)
Maintenance & Repairs: $5,500 Ann.
Insurance: $10,000 Ann.
Water & Sewer: $14,317.93 Ann.
Taxes: $22,166.32 Ann.
Total Expenses: $76,349.65 Ann.
Net Operating Income (NOI): $190,038.35 Ann. (9.75 Cap!!!)
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$366,949
|
$33.64
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$366,949
|
$33.64
|
| Taxes |
$30,534
|
$2.80
|
| Operating Expenses |
$74,637
|
$6.84
|
| Total Expenses |
$105,171
|
$9.64
|
| Net Operating Income |
$261,779
|
$24.00
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $366,949 |
| Annual Per SF | $33.64 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $366,949 |
| Annual Per SF | $33.64 |
| Taxes (CAD) | |
|---|---|
| Annual | $30,534 |
| Annual Per SF | $2.80 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $74,637 |
| Annual Per SF | $6.84 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $105,171 |
| Annual Per SF | $9.64 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $261,779 |
| Annual Per SF | $24.00 |
Property Facts
| Price | $2,686,125 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $223,844 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.09 AC |
| Cap Rate | 9.75% | Building Size | 10,907 SF |
| No. Units | 12 | No. Stories | 5 |
| Property Type | Multifamily | Year Built | 1913 |
| Property Subtype | Apartment | ||
| Zoning | C4-2, Bronx, (C1) | ||
| Price | $2,686,125 CAD |
| Price Per Unit | $223,844 CAD |
| Sale Type | Investment |
| Cap Rate | 9.75% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 10,907 SF |
| No. Stories | 5 |
| Year Built | 1913 |
| Zoning | C4-2, Bronx, (C1) |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Fenced Lot
- Security System
- Recycling
- Smoke Free
- Storage Space
- Bicycle Storage
- Maintenance on site
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 12 | - | - |
Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 03772-0062 | Total Assessment | $244,686 CAD |
| Land Assessment | $53,386 CAD | Annual Taxes | $30,534 CAD ($2.80 CAD/SF) |
| Improvements Assessment | $191,300 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
03772-0062
Land Assessment
$53,386 CAD
Improvements Assessment
$191,300 CAD
Total Assessment
$244,686 CAD
Annual Taxes
$30,534 CAD ($2.80 CAD/SF)
Tax Year
2025
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