Brick Triplex With Private
New
For Sale
$1,100,000
1405 E 233rd St The, Bronx, NY 10466
Three residential units include finished lower-level space, outdoor amenities, and convenient access to shopping, transit, schools, and parks.
Property Size3,036 SF
Price / SF$362.32
Days on Market5
Property Features for 1405 E 233rd St The
General Information
Standard status
Active
Size
3,036 SF
Total Parking Spaces
2
Property subtype
Investment
Units
Unit Mix
1 x 3BR, 1 x 2BR, 1 x 1BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,475
Amenities
finished basement
laundry
private rear yard
brick oven
Building Details
Building Size
3,036 SF
Year Built
1959
Buildings
1
Units
3
Construction
brick
Listing Agency:
Fave Realty Inc.
(646) 320-8803
Listed By:
Elvis Gonzalez · License #10401287727
(646) 320-8803
Source:
Elliman
Added: Aug 28
Changed: Aug 30
Last Checked: Aug 31 at 5:37PM
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 Fave Realty Inc.
Investment Insights
Based on property information with market context.
This 1959 brick triplex contains approximately 3,036 square feet arranged among three residential apartments. The unit mix includes a three-bedroom residence on the top floor, a two-bedroom apartment on the second floor, and a one-bedroom apartment at street level. Hardwood flooring and natural light are noted throughout the units, which feature practical living arrangements.
A full finished basement adds laundry facilities and additional rooms for storage, recreation, or other uses. Exterior amenities include a private rear yard with a brick oven. Parking is provided by an attached garage and private driveway with capacity for up to two vehicles.
The property is located at 1405 E 233rd St in The Bronx, near shopping, dining, schools, parks, and public transportation. Dyre Avenue subway station is identified as a nearby transit option. Walk Score is 74, Transit Score is 65, and Bike Score is 53.
A full finished basement adds laundry facilities and additional rooms for storage, recreation, or other uses. Exterior amenities include a private rear yard with a brick oven. Parking is provided by an attached garage and private driveway with capacity for up to two vehicles.
The property is located at 1405 E 233rd St in The Bronx, near shopping, dining, schools, parks, and public transportation. Dyre Avenue subway station is identified as a nearby transit option. Walk Score is 74, Transit Score is 65, and Bike Score is 53.
Key Highlights
- Three‑unit brick property with approximately 3,036 square feet of living space
- Unit mix includes 3‑bedroom, 2‑bedroom, and 1‑bedroom apartments
- Full finished basement includes laundry and additional rooms
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
$77,119
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
7.01%
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%
$1,542,380
$1.5M
Cap Rate 7%
$1,101,700
$1.1M
Cap Rate 9%
$856,878
$856.9K
Market Conditions
NOI Build-Up for 3,036 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
$116.6K $38.40/SF
− Vacancy
−$6.4K −$2.11/SF
EGI
$110.2K $36.29/SF
− OpEx
−$33.1K −$10.89/SF
NOI
$77.1K $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%
$1,542,380
Cap Rate 7%
$1,101,700
Cap Rate 9%
$856,878
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$964.0K – $1.29M
NOI $77,119 @ 7.0% cap · market cap 7.01%
Second Best
Apartment 5plus
$997.7K
$873.0K – $1.16M
NOI $69,839 @ 7.0% cap · market cap 6.35%
Theoretical Best
Warehouse
$2.10M
$1.84M – $2.45M
NOI $147,261 @ 7.0% cap · market cap 13.39%
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
1,383
Businesses Nearby
Explore this area
Business Placement
Demographics for 10466, NY
70,420
Population
26,303
Households
2.7
Avg Household Size
38
Median Age
26%
College-Educated
81%
High-School Grad
2.0 sq mi
ZIP Area
35,210
Density / Sq Mi
$66,328
Median Household Income
$44,053
Median Earnings
$1,528
Median Rent
$605,300
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 - Three residential units include finished lower-level space, outdoor amenities, and convenient access to shopping, transit, schools, and parks.
Where is this triplex located?
The property is located at 1405 E 233rd St The Bronx, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Three‑unit brick property with approximately 3,036 square feet of living space; Unit mix includes 3‑bedroom, 2‑bedroom, and 1‑bedroom apartments; Full finished basement includes laundry and additional rooms
