Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    1224 Union Ave Bronx, NY 10459

    Sponsored
    For Sale
    $1,200,000

    Multi-Unit (2-4) - Bronx, NY

    Property size:
    3,240 SF
    Lot size:
    20.00 Acres
    Days on Market:
    21
    Last Refresh:
    Jan 20 at 6:06 am

    Property Features for 1224 Union Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Kitchen
    Bedrooms
    11
    Bathrooms
    3
    Parking features
    Garage
    Basement Y/N
    1
    Appliances
    Refrigerator
    Size
    3,240 SF
    Lot size
    20.00 Acres

    Utilities

    Heating system
    Baseboard, Natural Gas

    Building Details

    Year built
    1910
    Year renovated
    1910
    Floors in Building
    3
    Flooring type
    Hardwood
    Building materials
    Brick
    Architectural style
    Other

    We can help!

    Listing Contact
    Avraham Birnbaum

    TWELVE STONES REALTY (973) 873-8444

    Listing agent Avraham Birnbaum (973) 873-8444

    Listing date Dec 31, 2025

    MLS# 11622936 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Bronx Multifamily with Renovation

    Located in the Morrisania section of the Bronx, this three-story multifamily property at 1224 Union Ave was built in 1910 and features a full basement. The fully brick building has undergone gut renovation and includes three floor-through apartments, each with a 3-4 bedroom layout. The property benefits from fully individual utilities and low annual property taxes. Situated on a deep lot, the building also features a large backyard. The property offers a strong physical setup and clear value-add potential for investors or owner-operators seeking a stable Bronx property with upside in a growing neighborhood. The property size is 3240 square feet and the lot size is 20 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.898862
    Latitude
    40.829344

    Nearby Similar for Sale

    • $1,599,000
      3,500 SF

      Bronx Two-Family with Accessory Suite

      Custom-built two-family home with in-law suite and modern amenities.
      2757 Tenbroeck Ave, Bronx, NY 10469
      View Details
    • $1,350,000
      Pending

      Bronx Colonial Multifamily Investment Property

      Legal 4-family home in Woodlawn, close to Manhattan.
      65 E 233Rd St, Bronx, NY 10470
      View Details
    • New
      $875,000
      0.06 Acres

      Bronx SRO Investment Opportunity

      13-unit SRO with owner's duplex in Van Nest.
      376 Bronx Park Ave, Bronx, NY 10460
      View Details
    • $1,399,000
      2,912 SF

      Renovated Multi-Family Home, Pelham Bay

      Renovated multi-family home near the #6 train and Pelham Bay Park.
      1711 Mahan Ave, Bronx, NY 10461
      View Details
    • New
      $999,000

      Morris Park Multi-Family Home

      Updated multi-family home in Morris Park near transportation and retail.
      959 Van Nest Ave, Bronx, NY 10462
      View Details
    • $875,000
      Pending

      Bronx Two-Family Home For Sale

      Well-maintained two-family home in Throggs Neck, Bronx.
      280 Throggs Neck Blvd, Bronx, NY 10465
      View Details
    • $775,000
      Pending

      Refreshed Bronx Two-Family Home

      Two-family home in Williamsbridge area, move-in ready, income potential.
      3650 Olinville Ave, Bronx, NY 10467
      View Details
    • $1,290,000
      0.17 Acres

      Bronx Retail Property For Sale

      Retail property available for purchase in the Bronx, New York.
      1506 Bronxdale Ave, Bronx, NY 10462
      View Details
    • New
      $810,000
      Pending

      Bronx Two-Family Home with Garage

      Well-maintained two-family home in the Bronx with investment potential.
      820 Penfield St, Bronx, NY 10470
      View Details
    • $1,050,000
      0.16 Acres

      Riverdale Multifamily Investment Opportunity

      Multifamily home with income potential in prime Riverdale location.
      3650 Waldo Ave, Bronx, NY 10463
      View Details
    • $1,295,000
      0.06 Acres

      Renovated Two-Family Home, Move-In Ready

      Fully renovated two-family home with modern upgrades and income potential.
      2916 Heath Ave, Bronx, NY 10463
      View Details
    • $925,000
      3,178 SF

      Move-in Ready Bronx Multi-Unit Home

      Two-family home with income potential and significant energy savings.
      1417 Clinton Ave, Bronx, NY 10456
      View Details

    FAQs

    What type of property is this?
    Triplex - Three-story multifamily property in the Morrisania section of the Bronx.
    Where is this triplex located?
    The property is located at 1224 Union Ave Bronx, NY.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: - Three spacious, renovated floor-through apartments with 3-4 bedroom layouts offer immediate rental income potential.; - Full basement and large backyard provide additional space and value-add opportunities.; - Fully individual utilities simplify management and tenant billing.
    (973) 873-8444
    Request Owner's contact information
    1224 Union Ave Bronx, NY 10459
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1224 Union Ave
    Bronx, NY 10459
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    1224 Union Ave Bronx, NY 10459
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Avraham Birnbaum
    (973) 873-8444
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.