Brick Three-Family Residential
For Sale
$874,888
323 Concord Avenue, Bronx, NY 10454
MULTI_FAMILY - Bronx, NY
Property Size2,148 SF
Lot Size0.04 Acres
Price / SF$407.30
Days on Market122
Property Features for 323 Concord Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
M1-2
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 4, Bathroom 1, Bedroom 5, Bedroom 1, Bedroom 3, Bathroom 3, Bedroom 6, Bathroom 2
Interior features
A/C Unit - Window, Microwave, Refrigerator, Stove, Window Treatments
Subdivision
Mott Haven
Standard status
Active
Size
2,148 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
3997
Building Details
Year built
1910
Floors in Building
3
Number of units
3
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
Remax Top Nest Real Estate
(646) 828-6378
Listed By:
Yat Chi (Stanley) Ng
(646) 828-6378
Added: Apr 13
Changed: Aug 3
Last Checked: Aug 12 at 1:06AM
MLS# 500451
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This brick three-family triplex features three enhanced units with updated interiors. The property includes hardwood and tile flooring, a flat roof, and window A/C units, along with in-unit kitchen appliances and window treatments. Built in 1910, the building is configured as a residential income asset with all units fully leased to tenants.
The site is on a quiet residential street in Bronx, NY 10454, with proximity described to the Bronx waterfront, dining and cultural venues, and multiple transit options, including the 2, 5, and 6 trains. The property is positioned for convenient access to Manhattan while maintaining a neighborhood setting.
Set on a 0.0367-acre lot and totaling 2,148 square feet, the property is offered with a reported 5% cap rate and turnkey occupancy based on fully leased status.
The site is on a quiet residential street in Bronx, NY 10454, with proximity described to the Bronx waterfront, dining and cultural venues, and multiple transit options, including the 2, 5, and 6 trains. The property is positioned for convenient access to Manhattan while maintaining a neighborhood setting.
Set on a 0.0367-acre lot and totaling 2,148 square feet, the property is offered with a reported 5% cap rate and turnkey occupancy based on fully leased status.
Key Highlights
- 0.0367‑acre lot
- 2,148 square feet total
- Built in 1910 brick three‑family
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$54,563
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.24%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,091,260
$1.1M
Cap Rate 7%
$779,471
$779.5K
Cap Rate 9%
$606,256
$606.3K
Market Conditions
NOI Build-Up for 2,148 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$82.5K $38.40/SF
− Vacancy
−$4.5K −$2.11/SF
EGI
$77.9K $36.29/SF
− OpEx
−$23.4K −$10.89/SF
NOI
$54.6K $25.40/SF
Area
Bronx, NY
Vacancy
5.50%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,091,260
Cap Rate 7%
$779,471
Cap Rate 9%
$606,256
Alternative Uses
Best Use
Multifamily LT 5
$779.5K
$682.0K – $909.4K
NOI $54,563 @ 7.0% cap · market cap 6.24%
Second Best
Apartment 5plus
$705.9K
$617.7K – $823.5K
NOI $49,412 @ 7.0% cap · market cap 5.65%
Theoretical Best
Warehouse
$1.49M
$1.30M – $1.74M
NOI $104,189 @ 7.0% cap · market cap 11.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,809
Businesses Nearby
Explore this area
Business Placement
Demographics for 10454, NY
40,232
Population
15,397
Households
2.6
Avg Household Size
33
Median Age
14%
College-Educated
62%
High-School Grad
1.1 sq mi
ZIP Area
36,575
Density / Sq Mi
$27,500
Median Household Income
$31,243
Median Earnings
$1,064
Median Rent
$780,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-family triplex with M1-2 zoning and three fully leased units in a brick building built in 1910.
Where is this triplex located?
The property is located at 323 Concord Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $874,888.
What are key features of this property?
This property features: 0.0367‑acre lot; 2,148 square feet total; Built in 1910 brick three‑family
