Triplex Multifamily
For Sale
$999,999
1804 Muliner Avenue, Bronx, NY 10462
Three apartments feature traditional layouts, natural light, and shared access to a full unfinished basement.
Property Size3,303 SF
Days on Market47
Property Features for 1804 Muliner Avenue
General Information
Standard status
Active
Size
3,303 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$7,583
Building Details
Building Size
3,303 SF
Year Built
1899
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
Keller Williams Realty Group
(929) 291-9133
Listed By:
Jampa Nyandak · License #10401365196
Source:
Serhant
Added: Jun 27
Changed: Aug 8
Last Checked: Aug 11 at 12:13PM
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 Keller Williams Realty Group
Investment Insights
Based on property information with market context.
This three-story triplex multifamily property includes two-bedroom apartments on the second and third floors and a one-bedroom apartment on the first floor. Each apartment has a living room, dining room, kitchen, and full bathroom, with traditional layouts, comfortable room sizes, and good natural light. Interior finishes include a mix of hardwood and tile flooring, while a common interior stairwell serves the apartments. The property also includes a full unfinished basement.
Built in 1899, the property is located near Morris Park Avenue in the Van Nest section of the Bronx. Public transportation, local shops, restaurants, schools, and everyday neighborhood conveniences are nearby. The configuration supports use as a three-family residence, including the possibility of occupying one apartment while collecting rental income.
Built in 1899, the property is located near Morris Park Avenue in the Van Nest section of the Bronx. Public transportation, local shops, restaurants, schools, and everyday neighborhood conveniences are nearby. The configuration supports use as a three-family residence, including the possibility of occupying one apartment while collecting rental income.
Key Highlights
- Three‑story triplex with a 2‑bedroom apartment on the 2nd floor, a 2‑bedroom apartment on the 3rd floor, and a 1‑bedroom apartment on the 1st floor
- Each apartment includes a living room, dining room, kitchen, and full bathroom
- Full unfinished basement and common interior stairwell
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
$80,206
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
8.02%
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%
$1,604,120
$1.6M
Cap Rate 7%
$1,145,800
$1.1M
Cap Rate 9%
$891,178
$891.2K
Market Conditions
NOI Build-Up for 3,303 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
$120.9K $36.60/SF
− Vacancy
−$6.3K −$1.91/SF
EGI
$114.6K $34.69/SF
− OpEx
−$34.4K −$10.41/SF
NOI
$80.2K $24.28/SF
Area
ZIP 10462
Vacancy
5.22%
Lease Rate
$36.60 /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%
$1,604,120
Cap Rate 7%
$1,145,800
Cap Rate 9%
$891,178
Alternative Uses
Best Use
Multifamily LT 5
$1.15M
$1.00M – $1.34M
NOI $80,206 @ 7.0% cap · market cap 8.02%
Second Best
Apartment 5plus
$1.02M
$893.6K – $1.19M
NOI $71,485 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$1.58M
$1.38M – $1.84M
NOI $110,321 @ 7.0% cap · market cap 11.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,577
Businesses Nearby
Explore this area
Business Placement
Demographics for 10462, NY
84,655
Population
31,828
Households
2.7
Avg Household Size
37
Median Age
28%
College-Educated
83%
High-School Grad
1.5 sq mi
ZIP Area
56,437
Density / Sq Mi
$63,460
Median Household Income
$42,383
Median Earnings
$1,711
Median Rent
$372,100
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 apartments feature traditional layouts, natural light, and shared access to a full unfinished basement.
Where is this triplex located?
The property is located at 1804 Muliner Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Three‑story triplex with a 2‑bedroom apartment on the 2nd floor, a 2‑bedroom apartment on the 3rd floor, and a 1‑bedroom apartment on the 1st floor; Each apartment includes a living room, dining room, kitchen, and full bathroom; Full unfinished basement and common interior stairwell
