Three-Unit Residential
For Sale
$1,300,000
1164 Union Ave The, Bronx, NY 10459
Three apartments offer varied layouts, with hardwood flooring in the lower-level unit and basement laundry access.
Property Size3,402 SF
Days on Market8
Property Features for 1164 Union Ave The
General Information
Standard status
Active
Size
3,402 SF
Property subtype
Investment
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 2BR/1BA, 1 x 3BR/1.5BA
Multifamily Units
3
Additional Details
Gross Income
$105,396
Taxes and HOA fees
Annual Taxes
$6,497
Building Details
Building Size
3,402 SF
Year Built
2005
Buildings
1
Units
3
Listing Agency:
Prudential World Homes
Listed By:
Robert M Palazzo
(845) 216-1997
Source:
Elliman
Added: Sep 20
Changed: Sep 26
Last Checked: Sep 26 at 10:20AM
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 Prudential World Homes
Investment Insights
Based on property information with market context.
This triplex contains three separate apartments arranged across the building. The lower-level residence has 3BR and 1.5 baths with hardwood flooring, while the second-floor unit provides 2 bedrooms and 1 bath. The third-floor apartment includes 3 bedrooms and 1.5 baths. Laundry access is located in the full unfinished basement and is designated for the first-floor apartment, with exterior basement access also provided.
The property includes driveway parking and is located at 1164 Union Ave in The Bronx. Walk Score is 82, Bike Score is 76, and Transit Score is 100, supporting convenient access by foot, bicycle, and public transportation.
The property includes driveway parking and is located at 1164 Union Ave in The Bronx. Walk Score is 82, Bike Score is 76, and Transit Score is 100, supporting convenient access by foot, bicycle, and public transportation.
Key Highlights
- Three‑unit triplex with 3BR, 1.5 baths; 2 bedrooms, 1 bath; and 3 bedrooms, 1.5 baths
- Lower‑level apartment features hardwood flooring
- Full unfinished basement provides laundry access for the first‑floor apartment
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
$86,416
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
6.65%
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%
$1,728,320
$1.7M
Cap Rate 7%
$1,234,514
$1.2M
Cap Rate 9%
$960,178
$960.2K
Market Conditions
NOI Build-Up for 3,402 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
$130.6K $38.40/SF
− Vacancy
−$7.2K −$2.11/SF
EGI
$123.5K $36.29/SF
− OpEx
−$37.0K −$10.89/SF
NOI
$86.4K $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%
$1,728,320
Cap Rate 7%
$1,234,514
Cap Rate 9%
$960,178
Alternative Uses
Best Use
Multifamily LT 5
$1.23M
$1.08M – $1.44M
NOI $86,416 @ 7.0% cap · market cap 6.65%
Second Best
Apartment 5plus
$1.12M
$978.2K – $1.30M
NOI $78,258 @ 7.0% cap · market cap 6.02%
Theoretical Best
Warehouse
$2.36M
$2.06M – $2.75M
NOI $165,014 @ 7.0% cap · market cap 12.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,708
Businesses Nearby
Explore this area
Business Placement
Demographics for 10459, NY
50,984
Population
18,678
Households
2.7
Avg Household Size
34
Median Age
14%
College-Educated
68%
High-School Grad
0.8 sq mi
ZIP Area
63,730
Density / Sq Mi
$39,276
Median Household Income
$30,200
Median Earnings
$1,285
Median Rent
$589,500
Median Home Value
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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 - Three apartments offer varied layouts, with hardwood flooring in the lower-level unit and basement laundry access.
Where is this triplex located?
The property is located at 1164 Union Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Three‑unit triplex with 3BR, 1.5 baths; 2 bedrooms, 1 bath; and 3 bedrooms, 1.5 baths; Lower‑level apartment features hardwood flooring; Full unfinished basement provides laundry access for the first‑floor apartment
