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3961 Carpenter Ave 3961 Carpenter 57 Unit Apartment Building $14,147,924 CAD ($248,209 CAD/Unit) 11.59% Cap Rate Bronx, NY 10466
Executive Summary
Exceptional multifamily investment opportunity in the highly sought-after Wakefield section of the Bronx.
Built in 2012, 3961 Carpenter Avenue is a six-story elevator building comprising 57 residential units and over
40,000 square feet of rentable space, offering investors a rare combination of scale, stability, and long-term
growth potential.
The property currently generates approximately $95,840 in monthly gross rental income, equating to more
than $1.15 million annually. With a strong operating history and high tenant demand, this asset provides
immediate cash flow and the opportunity for continued appreciation in one of New York City's strongest
rental markets.
Unlike many older multifamily buildings, 3961 Carpenter Avenue benefits from modern construction,
contemporary building systems, and efficient layouts designed to enhance tenant satisfaction while reducing
capital expenditure concerns. The property's attractive design, elevator service, and institutional-quality
presence make it a standout asset in the marketplace.
Ideally located near public transportation, major highways, shopping, dining, schools, and everyday
conveniences, the building enjoys excellent accessibility and a deep tenant pool. Its prime location and strong
fundamentals support consistent occupancy and long-term investment performance.
Rarely does a multifamily asset of this size and quality become available. Whether you're seeking stable cash
flow, portfolio expansion, or a well-positioned long-term hold, 3961 Carpenter Avenue offers an outstanding
opportunity to acquire a modern, income-producing asset generating over $1.15 million in annual gross
income in the heart of New York City.
Built in 2012, 3961 Carpenter Avenue is a six-story elevator building comprising 57 residential units and over
40,000 square feet of rentable space, offering investors a rare combination of scale, stability, and long-term
growth potential.
The property currently generates approximately $95,840 in monthly gross rental income, equating to more
than $1.15 million annually. With a strong operating history and high tenant demand, this asset provides
immediate cash flow and the opportunity for continued appreciation in one of New York City's strongest
rental markets.
Unlike many older multifamily buildings, 3961 Carpenter Avenue benefits from modern construction,
contemporary building systems, and efficient layouts designed to enhance tenant satisfaction while reducing
capital expenditure concerns. The property's attractive design, elevator service, and institutional-quality
presence make it a standout asset in the marketplace.
Ideally located near public transportation, major highways, shopping, dining, schools, and everyday
conveniences, the building enjoys excellent accessibility and a deep tenant pool. Its prime location and strong
fundamentals support consistent occupancy and long-term investment performance.
Rarely does a multifamily asset of this size and quality become available. Whether you're seeking stable cash
flow, portfolio expansion, or a well-positioned long-term hold, 3961 Carpenter Avenue offers an outstanding
opportunity to acquire a modern, income-producing asset generating over $1.15 million in annual gross
income in the heart of New York City.
Property Facts
| Price | $14,147,924 CAD | Building Class | B |
| Price Per Unit | $248,209 CAD | Lot Size | 0.25 AC |
| Sale Type | Investment | Building Size | 38,026 SF |
| Cap Rate | 11.59% | Average Occupancy | 100% |
| No. Units | 57 | No. Stories | 6 |
| Property Type | Multifamily | Year Built | 2013 |
| Property Subtype | Apartment | Parking Ratio | 0.26/1,000 SF |
| Apartment Style | Mid-Rise | ||
| Zoning | R7-1 - R7 Zoning is considered medium density residential. It is broken into 2 basic zoning districts R7-1 and R7-2. R7-1 has more parking requirements. | ||
| Price | $14,147,924 CAD |
| Price Per Unit | $248,209 CAD |
| Sale Type | Investment |
| Cap Rate | 11.59% |
| No. Units | 57 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.25 AC |
| Building Size | 38,026 SF |
| Average Occupancy | 100% |
| No. Stories | 6 |
| Year Built | 2013 |
| Parking Ratio | 0.26/1,000 SF |
| Zoning | R7-1 - R7 Zoning is considered medium density residential. It is broken into 2 basic zoning districts R7-1 and R7-2. R7-1 has more parking requirements. |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
- Window Coverings
Site Amenities
- Video Patrol
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 57 | - | - |
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
90/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 04820-0020 | Improvements Assessment | $2,579,435 CAD |
| Land Assessment | $209,345 CAD | Total Assessment | $2,788,781 CAD |
Property Taxes
Parcel Number
04820-0020
Land Assessment
$209,345 CAD
Improvements Assessment
$2,579,435 CAD
Total Assessment
$2,788,781 CAD
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3961 Carpenter Ave | 3961 Carpenter
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