Vacant Three-Family
New
For Sale
$1,400,000
1153 Virginia Ave The, Bronx, NY 10472
Vacant three-family property with varied apartment layouts and finished basement space.
Property Size3,744 SF
Days on Market4
Property Features for 1153 Virginia Ave The
General Information
Standard status
Active
Size
3,744 SF
Property subtype
Investment
Units
Unit Mix
1 x 3BR, 1 x 2BR, 1 x 1BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,511
Building Details
Building Size
3,744 SF
Year Built
1920
Units
4
Listing Agency:
(917) 402-4278
Listed By:
Shakawat Ali
(917) 402-4278
Source:
Elliman
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 21 at 11:44AM
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 Shakawat Ali
Investment Insights
Based on property information with market context.
Built in 1920, this three-family property at 1153 Virginia Ave in The Bronx includes a three-bedroom apartment, a two-bedroom apartment, and a one-bedroom apartment. The finished semi-walk-in basement adds four rooms and one full bath, providing additional interior space within the property. The building will be delivered vacant.
The property is located in The Bronx, NY 10472, with a WalkScore of 93, a TransitScore of 92, and a BikeScore of 52. These ratings indicate strong walkability and transit access, along with bikeable conditions.
The property is located in The Bronx, NY 10472, with a WalkScore of 93, a TransitScore of 92, and a BikeScore of 52. These ratings indicate strong walkability and transit access, along with bikeable conditions.
Key Highlights
- Three‑family property delivered vacant
- Unit mix includes 3‑bedroom, 2‑bedroom, and 1‑bedroom apartments
- Semi walk‑in finished basement with 4 rooms and 1 full bath
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
$95,104
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
6.79%
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%
$1,902,080
$1.9M
Cap Rate 7%
$1,358,629
$1.4M
Cap Rate 9%
$1,056,711
$1.1M
Market Conditions
NOI Build-Up for 3,744 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
$143.8K $38.40/SF
− Vacancy
−$7.9K −$2.11/SF
EGI
$135.9K $36.29/SF
− OpEx
−$40.8K −$10.89/SF
NOI
$95.1K $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%
$1,902,080
Cap Rate 7%
$1,358,629
Cap Rate 9%
$1,056,711
Alternative Uses
Best Use
Multifamily LT 5
$1.36M
$1.19M – $1.59M
NOI $95,104 @ 7.0% cap · market cap 6.79%
Second Best
Apartment 5plus
$1.23M
$1.08M – $1.44M
NOI $86,126 @ 7.0% cap · market cap 6.15%
Theoretical Best
Warehouse
$2.59M
$2.27M – $3.03M
NOI $181,603 @ 7.0% cap · market cap 12.97%
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
3,467
Businesses Nearby
Explore this area
Business Placement
Demographics for 10472, NY
72,245
Population
24,259
Households
3
Avg Household Size
34
Median Age
14%
College-Educated
69%
High-School Grad
1.1 sq mi
ZIP Area
65,677
Density / Sq Mi
$43,125
Median Household Income
$35,180
Median Earnings
$1,445
Median Rent
$632,500
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 - Vacant three-family property with varied apartment layouts and finished basement space.
Where is this triplex located?
The property is located at 1153 Virginia Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Three‑family property delivered vacant; Unit mix includes 3‑bedroom, 2‑bedroom, and 1‑bedroom apartments; Semi walk‑in finished basement with 4 rooms and 1 full bath
