Three-Unit Multifamily
For Sale
$1,699,000
1162 Edison Avenue, Bronx, NY 10461
Well-maintained triplex offers three spacious apartments with balconies and on-site coin-operated laundry.
Property Size4,800 SF
Days on Market84
Property Features for 1162 Edison Avenue
General Information
Standard status
Active
Size
4,800 SF
Total Parking Spaces
1
Property subtype
Residential Income
Additional Details
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$11,609
Amenities
Central Air, Wall/Window Unit(s)
Baseboard, Hot Water, Natural Gas
Storage Space
Cathedral Ceiling(s), Ceiling Fan(s), Eat-in Kitchen, Entrance Foyer, Open Floorplan, Storage
Driveway
Colonial
Building Details
Building Size
4,800 SF
Year Built
1998
Stories
3
Listing Agency:
Morrs Park Realty
(718) 881-1923
Listed By:
Joseph Cosentino · License #10311205741
(718) 881-1923
Source:
Evrealestate
Added: Jun 2
Changed: Aug 23
Last Checked: Aug 24 at 4:38AM
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 Morrs Park Realty
Investment Insights
Based on property information with market context.
1162 Edison Avenue is a well-maintained three-unit multifamily property configured as an owner-occupant friendly triplex. The top-floor residence is a fully updated 3-bedroom, 2-bath layout with soaring ceilings, hardwood floors, central air conditioning and heating, and both front and rear private balconies. The second-floor apartment provides a 3-bedroom, 2-bath floor plan with hardwood floors and front and rear balconies as well. The first-floor unit is a 2-bedroom, 2-bath apartment with hardwood flooring throughout, along with ample outdoor space for the building.
The property is in the Pelham Bay section of the Bronx and is described as being conveniently located near shopping, restaurants, schools, parks, major highways, and public transportation. Transit access is indicated as excellent, with walking characterized as car-dependent and bikeability as somewhat bikeable.
From a tenant or owner-operator perspective, the building’s multiple independent bedroom-bath layouts support a range of household sizes, while shared conveniences include coin-operated laundry facilities and robust building systems. The property is also supported by four separate gas boilers and four hot water heaters, reflecting dedicated utilities for the apartments.
The property is in the Pelham Bay section of the Bronx and is described as being conveniently located near shopping, restaurants, schools, parks, major highways, and public transportation. Transit access is indicated as excellent, with walking characterized as car-dependent and bikeability as somewhat bikeable.
From a tenant or owner-operator perspective, the building’s multiple independent bedroom-bath layouts support a range of household sizes, while shared conveniences include coin-operated laundry facilities and robust building systems. The property is also supported by four separate gas boilers and four hot water heaters, reflecting dedicated utilities for the apartments.
Key Highlights
- Well‑maintained 1998‑built triplex with three apartments (top‑floor, second‑floor, and first‑floor units)
- Top‑floor unit: updated 3BR/2BA with soaring ceilings, hardwood floors, central air/heat, and front & rear private balconies
- Second‑floor unit: 3BR/2BA with hardwood floors and front & rear balconies
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
$121,928
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
7.18%
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%
$2,438,560
$2.4M
Cap Rate 7%
$1,741,829
$1.7M
Cap Rate 9%
$1,354,756
$1.4M
Market Conditions
NOI Build-Up for 4,800 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
$184.3K $38.40/SF
− Vacancy
−$10.1K −$2.11/SF
EGI
$174.2K $36.29/SF
− OpEx
−$52.3K −$10.89/SF
NOI
$121.9K $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%
$2,438,560
Cap Rate 7%
$1,741,829
Cap Rate 9%
$1,354,756
Alternative Uses
Best Use
Multifamily LT 5
$1.74M
$1.52M – $2.03M
NOI $121,928 @ 7.0% cap · market cap 7.18%
Second Best
Apartment 5plus
$1.58M
$1.38M – $1.84M
NOI $110,417 @ 7.0% cap · market cap 6.50%
Theoretical Best
Warehouse
$3.33M
$2.91M – $3.88M
NOI $232,824 @ 7.0% cap · market cap 13.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,486
Businesses Nearby
Explore this area
Business Placement
Demographics for 10461, NY
54,901
Population
20,418
Households
2.7
Avg Household Size
38
Median Age
27%
College-Educated
82%
High-School Grad
2.4 sq mi
ZIP Area
22,875
Density / Sq Mi
$65,023
Median Household Income
$45,445
Median Earnings
$1,741
Median Rent
$640,400
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 triplex offers three spacious apartments with balconies and on-site coin-operated laundry.
Where is this triplex located?
The property is located at 1162 Edison Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Well‑maintained 1998‑built triplex with three apartments (top‑floor, second‑floor, and first‑floor units); Top‑floor unit: updated 3BR/2BA with soaring ceilings, hardwood floors, central air/heat, and front & rear private balconies; Second‑floor unit: 3BR/2BA with hardwood floors and front & rear balconies
