1500 Vyse Ave, Bronx, NY 10460

Building Details

Year Built 2005 More

Construction brick More

Listing Agency: Apex Realty

Listed By: Nik Berisha Show Phone

Source: Searchhomesinlongisland

Added: Oct 18 Changed: Nov 8 Last Checked: Nov 8 at 7:06AM

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Investment Insights

Based on property information with market context.

This 3,678-square-foot brick property is a legal three-family building delivered vacant and in as-is condition. Approved architectural plans address rehabilitation following prior fire damage and outline a conversion to eight one-bedroom residences. A condominium conversion application package has also been prepared, alongside the option of retaining the property as rental housing, subject to applicable approvals.

The property is located in the Crotona Park section of the Bronx and was built in 2005.

Key Highlights

• Legal three‑family brick building totaling 3,678 square feet
• Approved architectural plans outline rehabilitation after prior fire damage
• Plans propose conversion to eight one‑bedroom residential units

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$93,427

Cap Rate

5.86%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,868,540 $1.9M

Cap Rate 7%

$1,334,671 $1.3M

Cap Rate 9%

$1,038,078 $1.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,678 SF

Gross rent

$141.2K $38.40/SF

− Vacancy

−$7.8K −$2.11/SF

EGI

$133.5K $36.29/SF

− OpEx

−$40.0K −$10.89/SF

NOI

$93.4K $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 Rate 5%

$1,868,540

Cap Rate 7%

$1,334,671

Cap Rate 9%

$1,038,078

Alternative Uses

Best Use

Multifamily LT 5

$1.33M

$1.17M – $1.56M (±1% cap)

NOI $93,427 @ 7.0% cap · market cap 5.86%

Second Best

Apartment 5plus

$1.21M

$1.06M – $1.41M (±1% cap)

NOI $84,607 @ 7.0% cap · market cap 5.30%

Theoretical Best

Office A

$1.75M

$1.54M – $2.05M (±1% cap)

NOI $122,846 @ 7.0% cap · market cap 7.70%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

3

Residential units

Location Intelligence

Trade Area within ½ mile

3,043

Businesses Nearby

Explore this area Business Placement

Demographics for 10460, NY

62,625

Population

24,085

Households

2.6

Avg Household Size

34

Median Age

15%

College-Educated

71%

High-School Grad

1.5 sq mi

ZIP Area

41,750

Density / Sq Mi

$36,067

Median Household Income

$31,283

Median Earnings

$1,332

Median Rent

$589,300

Median Home Value

Market

Average Price Trend$/SF for Triplexes in Bronx, NY

$405 Jul

$411 Aug

$395 Sep

$408 Oct

Properties on Market for Triplexes in Bronx

Jul

Aug

Sep

Oct

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Triplex - Vacant, three-family building with architectural plans for a proposed eight-unit residential reconfiguration.

Where is this triplex located?

The property is located at 1500 Vyse Ave Bronx, NY.

What is the asking price?

The asking price for this property is $1,595,000.

What are key features of this property?

This property features: Legal three‑family brick building totaling 3,678 square feet; Approved architectural plans outline rehabilitation after prior fire damage; Plans propose conversion to eight one‑bedroom residential units