Brick Triplex with Finished
For Sale
$1,150,000
Pending
1139 Noble Ave The, Bronx, NY 10472
Well-maintained brick triplex with three units, including a finished basement and private 2-car driveway.
Property Size3,740 SF
Days on Market111
Property Features for 1139 Noble Ave The
General Information
Standard status
Pending
Size
3,740 SF
Total Parking Spaces
2
Property subtype
Investment
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,063
Amenities
finished basement
solar panels
Building Details
Building Size
3,740 SF
Year Built
1930
Units
3
Construction
brick
Tenancy
Multi
Listing Agency:
Motivated Access Realty Corp
(929) 575-2178
Listed By:
Carina M. Alvarez Rodriguez
(929) 575-2178
Source:
Elliman
Added: Apr 28
Changed: Aug 8
Last Checked: Aug 15 at 7:57AM
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 Motivated Access Realty Corp
Investment Insights
Based on property information with market context.
Well-maintained brick triplex featuring three residential units plus additional finished basement space. The first floor offers a 4-bedroom unit, while the second floor includes a 2-bedroom unit and a 1-bedroom unit. Improvements include a new boiler and a new roof, and the property includes transferable solar panels.
The building is located in Soundview near Westchester Avenue, Soundview Park, schools, shopping, and transportation.
A private 2-car driveway supports convenient off-street parking for residents.
The building is located in Soundview near Westchester Avenue, Soundview Park, schools, shopping, and transportation.
A private 2-car driveway supports convenient off-street parking for residents.
Key Highlights
- Well‑maintained brick triplex built in 1930
- Three‑unit layout: 4‑bedroom unit on the first floor, plus 2‑bedroom and 1‑bedroom units on the second floor
- Finished basement adds additional usable space
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
$95,002
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
8.26%
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%
$1,900,040
$1.9M
Cap Rate 7%
$1,357,171
$1.4M
Cap Rate 9%
$1,055,578
$1.1M
Market Conditions
NOI Build-Up for 3,740 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
$143.6K $38.40/SF
− Vacancy
−$7.9K −$2.11/SF
EGI
$135.7K $36.29/SF
− OpEx
−$40.7K −$10.89/SF
NOI
$95.0K $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%
$1,900,040
Cap Rate 7%
$1,357,171
Cap Rate 9%
$1,055,578
Alternative Uses
Best Use
Multifamily LT 5
$1.36M
$1.19M – $1.58M
NOI $95,002 @ 7.0% cap · market cap 8.26%
Second Best
Apartment 5plus
$1.23M
$1.08M – $1.43M
NOI $86,034 @ 7.0% cap · market cap 7.48%
Theoretical Best
Warehouse
$2.59M
$2.27M – $3.02M
NOI $181,409 @ 7.0% cap · market cap 15.77%
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
2,832
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 - Well-maintained brick triplex with three units, including a finished basement and private 2-car driveway.
Where is this triplex located?
The property is located at 1139 Noble 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: Well‑maintained brick triplex built in 1930; Three‑unit layout: 4‑bedroom unit on the first floor, plus 2‑bedroom and 1‑bedroom units on the second floor; Finished basement adds additional usable space
