Fully Redone Three-Family
For Sale
Contact for pricing
1024 E 226TH ST, Bronx, NY 10466
Renovated triplex with modern finishes, in-unit climate options, and backyard space for multiple cars.
Property Size2,304 SF
Price / SF$546.44
Days on Market111
Property Features for 1024 E 226TH ST
General Information
Standard status
Active
Size
2,304 SF
Class
A
Total Parking Spaces
5
Property subtype
Multifamily
Zoning
R4
Additional Details
Multifamily Units
3
Building Details
Year Built
1940
Buildings
1
Stories
3
Units
3
Tenancy
Multi
Listing Agency:
Budget Real Estate NYC INC
Listed By:
Inbal Levy · License #NY 10311208049
(347) 517-8828
Source:
Crexi
Added: May 28
Changed: Sep 8
Last Checked: Sep 15 at 4:49AM
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 Budget Real Estate NYC INC
Investment Insights
Based on property information with market context.
This fully redone three-family home features top-of-the-line finishes and stainless steel appliances. The building includes three separate residences: the top apartment offers three bedrooms with full-size closets, and the second-floor unit also provides three bedrooms, with full-size closets in each. The first-floor apartment has two bedrooms and includes an exit to the backyard. Shared services include washer/dryer hookups and split unit AC per apartment, supported by a boiler room with three separate hot water tanks.
The property is located in the Bronx and is about four blocks from a subway, supporting convenient transit access for occupants. A backyard provides additional outdoor space, including room to park approximately four to five cars.
For owner-occupants or investors, the layout offers flexibility across unit sizes while keeping the residences cohesive in condition and finish level. With split unit AC, washer/dryer hookups, and dedicated hot water tank service, the home is designed for practical day-to-day living and straightforward tenant setup.
The property is located in the Bronx and is about four blocks from a subway, supporting convenient transit access for occupants. A backyard provides additional outdoor space, including room to park approximately four to five cars.
For owner-occupants or investors, the layout offers flexibility across unit sizes while keeping the residences cohesive in condition and finish level. With split unit AC, washer/dryer hookups, and dedicated hot water tank service, the home is designed for practical day-to-day living and straightforward tenant setup.
Key Highlights
- Fully redone renovated triplex, built in 1940, with modern finishes and stainless steel appliances
- 3 apartments: top unit has 3 bedrooms; second floor has 3 bedrooms; first floor has 2 bedrooms
- Each bedroom in the top and second‑floor units includes full‑size closets
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
$58,525
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
4.65%
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%
$1,170,500
$1.2M
Cap Rate 7%
$836,071
$836.1K
Cap Rate 9%
$650,278
$650.3K
Market Conditions
NOI Build-Up for 2,304 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
$88.5K $38.40/SF
− Vacancy
−$4.9K −$2.11/SF
EGI
$83.6K $36.29/SF
− OpEx
−$25.1K −$10.89/SF
NOI
$58.5K $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%
$1,170,500
Cap Rate 7%
$836,071
Cap Rate 9%
$650,278
Alternative Uses
Best Use
Multifamily LT 5
$836.1K
$731.6K – $975.4K
NOI $58,525 @ 7.0% cap · market cap 4.65%
Second Best
Apartment 5plus
$757.1K
$662.5K – $883.3K
NOI $53,000 @ 7.0% cap · market cap 4.21%
Theoretical Best
Warehouse
$1.60M
$1.40M – $1.86M
NOI $111,756 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,500
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Renovated triplex with modern finishes, in-unit climate options, and backyard space for multiple cars.
Where is this triplex located?
The property is located at 1024 E 226TH ST Bronx, NY.
What is the asking price?
The asking price for this property is $1,258,999.
What are key features of this property?
This property features: Fully redone renovated triplex, built in 1940, with modern finishes and stainless steel appliances; 3 apartments: top unit has 3 bedrooms; second floor has 3 bedrooms; first floor has 2 bedrooms; Each bedroom in the top and second‑floor units includes full‑size closets
