Three-Unit Brick Income
For Sale
$1,025,000
Pending
1010 E 233rd Street, Bronx, NY 10466
Well-maintained three-family brick building with gas heat, hardwood floors, and stainless appliances for rental or owner-occupant use.
Property Size2,650 SF
Days on Market83
Property Features for 1010 E 233rd Street
General Information
Standard status
Pending
Size
2,650 SF
Total Parking Spaces
1
Property subtype
Residential Income
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,566
Amenities
Natural Gas
Eat-in Kitchen, Entrance Foyer
Fenced
Driveway
Awning(s), Balcony
Row Dwelling
Building Details
Building Size
2,650 SF
Year Built
1959
Listing Agency:
Keller Williams Realty Group
(917) 517-4004
Listed By:
Janet Bingham · License #10301222227
(917) 517-4004
Source:
Evrealestate
Added: Jun 8
Changed: Aug 25
Last Checked: Aug 28 at 7:47AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty Group
Investment Insights
Based on property information with market context.
This three-family brick residence offers three separate apartments across the top floor, second floor, and walk-in level. The top unit is a three-bedroom layout with a living room, kitchen, and full bathroom. The second-floor unit includes two bedrooms with a living room, kitchen, and full bathroom. The walk-in level also provides a two-bedroom arrangement with a living room and kitchen, plus a full bathroom. The property is described as having hardwood flooring and stainless steel appliances throughout, with washer and dryer hookup on the first floor. Heating is provided via gas heat, and the building has a newer boiler and hot water heater. A roof repair was completed in 2023 with a transferable seven-year warranty. The property will be delivered vacant, offering flexibility for investors and owner-occupants, and it is sold as-is.
The building is located in the Northeast Bronx and is described as being near public transportation as well as shopping, schools, and laundromats, supporting day-to-day convenience for occupants.
With three distinct units, this property can fit buyers looking for a multi-family setup where they may live in one unit while renting the others. Shared building systems and the stated improvements, including the newer boiler and hot water heater and the warranty-backed roof repair, may be practical considerations for an owner evaluating a residential income property.
The building is located in the Northeast Bronx and is described as being near public transportation as well as shopping, schools, and laundromats, supporting day-to-day convenience for occupants.
With three distinct units, this property can fit buyers looking for a multi-family setup where they may live in one unit while renting the others. Shared building systems and the stated improvements, including the newer boiler and hot water heater and the warranty-backed roof repair, may be practical considerations for an owner evaluating a residential income property.
Key Highlights
- Three‑family brick residence built in 1959, offering top‑floor 3BR and two additional 2BR apartments.
- All units include living room, kitchen, and full bathroom.
- Gas heat; stainless steel appliances; hardwood flooring throughout.
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
$67,314
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
6.57%
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%
$1,346,280
$1.3M
Cap Rate 7%
$961,629
$961.6K
Cap Rate 9%
$747,933
$747.9K
Market Conditions
NOI Build-Up for 2,650 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
$101.8K $38.40/SF
− Vacancy
−$5.6K −$2.11/SF
EGI
$96.2K $36.29/SF
− OpEx
−$28.8K −$10.89/SF
NOI
$67.3K $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%
$1,346,280
Cap Rate 7%
$961,629
Cap Rate 9%
$747,933
Alternative Uses
Best Use
Multifamily LT 5
$961.6K
$841.4K – $1.12M
NOI $67,314 @ 7.0% cap · market cap 6.57%
Second Best
Apartment 5plus
$870.9K
$762.0K – $1.02M
NOI $60,960 @ 7.0% cap · market cap 5.95%
Theoretical Best
Warehouse
$1.84M
$1.61M – $2.14M
NOI $128,538 @ 7.0% cap · market cap 12.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,815
Businesses Nearby
Explore this area
Business Placement
Demographics for 10466, NY
70,420
Population
26,303
Households
2.7
Avg Household Size
38
Median Age
26%
College-Educated
81%
High-School Grad
2.0 sq mi
ZIP Area
35,210
Density / Sq Mi
$66,328
Median Household Income
$44,053
Median Earnings
$1,528
Median Rent
$605,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Well-maintained three-family brick building with gas heat, hardwood floors, and stainless appliances for rental or owner-occupant use.
Where is this triplex located?
The property is located at 1010 E 233rd Street Bronx, NY.
What is the asking price?
The asking price for this property is $1,025,000.
What are key features of this property?
This property features: Three‑family brick residence built in 1959, offering top‑floor 3BR and two additional 2BR apartments.; All units include living room, kitchen, and full bathroom.; Gas heat; stainless steel appliances; hardwood flooring throughout.
