Three-Family Residential
For Sale
$999,000
Pending
1346 Elder Ave The, Bronx, NY 10472
Two 3-bedroom units and one 1-bedroom unit in a three-family building with an attached 2-car garage, sold as-is.
Property Size3,100 SF
Days on Market100
Property Features for 1346 Elder Ave The
General Information
Standard status
Pending
Size
3,100 SF
Total Parking Spaces
2
Property subtype
Investment
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,539
Building Details
Building Size
3,100 SF
Year Built
1920
Units
3
Tenancy
Multi
Listing Agency:
LRG I LLC
(914) 629-9551
Listed By:
Satoshi Maezono · License #10301206213 (NY)
(914) 629-9551
Source:
Elliman
Added: May 9
Changed: Aug 8
Last Checked: Aug 15 at 9:32AM
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 LRG I LLC
Investment Insights
Based on property information with market context.
This three-family residential property includes two spacious 3-bedroom units and one 1-bedroom unit. The layout is designed for comfortable, separate living arrangements across all three units, and the property also features an attached 2-car garage. The home is being sold strictly as-is.
Public location details are limited to the Bronx address provided. Nearby lifestyle convenience indicators in the remarks include a Walk Score of 80 (Very Walkable), a Bike Score of 74 (Very Bikeable), and a Transit Score of 100 (Rider’s Paradise).
From an operational standpoint, the building’s unit mix supports both traditional rental income and the possibility of owner-occupancy with additional rental units, depending on the buyer’s intended use.
Public location details are limited to the Bronx address provided. Nearby lifestyle convenience indicators in the remarks include a Walk Score of 80 (Very Walkable), a Bike Score of 74 (Very Bikeable), and a Transit Score of 100 (Rider’s Paradise).
From an operational standpoint, the building’s unit mix supports both traditional rental income and the possibility of owner-occupancy with additional rental units, depending on the buyer’s intended use.
Key Highlights
- Three‑family residential building built in 1920
- Unit mix includes two 3‑bedroom units and one 1‑bedroom unit
- Attached 2‑car garage
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
$78,745
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
7.88%
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%
$1,574,900
$1.6M
Cap Rate 7%
$1,124,929
$1.1M
Cap Rate 9%
$874,944
$874.9K
Market Conditions
NOI Build-Up for 3,100 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
$119.0K $38.40/SF
− Vacancy
−$6.5K −$2.11/SF
EGI
$112.5K $36.29/SF
− OpEx
−$33.7K −$10.89/SF
NOI
$78.7K $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%
$1,574,900
Cap Rate 7%
$1,124,929
Cap Rate 9%
$874,944
Alternative Uses
Best Use
Multifamily LT 5
$1.12M
$984.3K – $1.31M
NOI $78,745 @ 7.0% cap · market cap 7.88%
Second Best
Apartment 5plus
$1.02M
$891.4K – $1.19M
NOI $71,311 @ 7.0% cap · market cap 7.14%
Theoretical Best
Warehouse
$2.15M
$1.88M – $2.51M
NOI $150,366 @ 7.0% cap · market cap 15.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,799
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
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Frequently Asked Questions
What type of property is this?
Triplex - Two 3-bedroom units and one 1-bedroom unit in a three-family building with an attached 2-car garage, sold as-is.
Where is this triplex located?
The property is located at 1346 Elder Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Three‑family residential building built in 1920; Unit mix includes two 3‑bedroom units and one 1‑bedroom unit; Attached 2‑car garage
