Brick Triplex with
For Sale
$1,150,000
Pending
1235 Ward Ave The, Bronx, NY 10472
Legal three-family brick property with an unfinished basement, separate utility meters, and rear parking.
Property Size2,544 SF
Lot Size0.06 Acres
Days on Market128
Property Features for 1235 Ward Ave The
General Information
Standard status
Pending
Size
2,544 SF
Total Parking Spaces
2
Lot size
0.06 Acres
Property subtype
Investment
Zoning
R6
Units
Unit Mix
1 x 3-4BR, 1 x 1BR, 1 x 2BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,547
Building Details
Building Size
2,544 SF
Year Built
1930
Buildings
1
Stories
2
Units
3
Construction
brick
Listing Agency:
NY Champions Realty
(718) 362-0500
Listed By:
Jennie Leung
(718) 362-0500
Source:
Elliman
Added: Apr 28
Changed: Aug 31
Last Checked: Sep 1 at 7:01PM
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 NY Champions Realty
Investment Insights
Based on property information with market context.
This legal three-family brick triplex was built in 1930 and occupies a 25-by-100-foot lot with a 20-by-66-foot building. The two-story layout includes a first-floor apartment configured with 3–4 bedrooms, plus two second-floor apartments: a one-bedroom front unit and a two-bedroom rear unit. A semi-above-grade unfinished basement offers high ceilings and windows, while the rear provides 2-car parking. The property has 3 electrical meters and 3 gas meters.
Located in the Bronx’s Soundview section, the property is zoned R6 and sits near the Elder Avenue stop on the #6 train. WalkScore is 80, BikeScore is 74, and TransitScore is 100.
Located in the Bronx’s Soundview section, the property is zoned R6 and sits near the Elder Avenue stop on the #6 train. WalkScore is 80, BikeScore is 74, and TransitScore is 100.
Key Highlights
- Legal 3‑family brick triplex built in 1930
- 25x100 lot with a 20x66 building
- Unit mix includes 3–4 bedrooms, 1 bedroom, and 2 bedrooms
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
$33,530
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
2.92%
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%
$670,600
$670.6K
Cap Rate 7%
$479,000
$479.0K
Cap Rate 9%
$372,556
$372.6K
Market Conditions
NOI Build-Up for 1,320 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
$50.7K $38.40/SF
− Vacancy
−$2.8K −$2.11/SF
EGI
$47.9K $36.29/SF
− OpEx
−$14.4K −$10.89/SF
NOI
$33.5K $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%
$670,600
Cap Rate 7%
$479,000
Cap Rate 9%
$372,556
Alternative Uses
Best Use
Multifamily LT 5
$479.0K
$419.1K – $558.8K
NOI $33,530 @ 7.0% cap · market cap 2.92%
Second Best
Apartment 5plus
$433.8K
$379.6K – $506.1K
NOI $30,365 @ 7.0% cap · market cap 2.64%
Theoretical Best
Warehouse
$914.7K
$800.3K – $1.07M
NOI $64,027 @ 7.0% cap · market cap 5.57%
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
2,619
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 - Legal three-family brick property with an unfinished basement, separate utility meters, and rear parking.
Where is this triplex located?
The property is located at 1235 Ward Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Legal 3‑family brick triplex built in 1930; 25x100 lot with a 20x66 building; Unit mix includes 3–4 bedrooms, 1 bedroom, and 2 bedrooms
