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Spacious Multi-Family Investment Opportunity

1961 Wallace Ave The, Bronx, NY 10462

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For Sale

$899,000

Multi-family property with finished basement, hardwood floors, and backyard.

Type:Multi Family

Property size:

3,216 SF

Lot size:

0.05 Acres

Price / SF:

$279/SF

HighLights

Multi‑family investment opportunity with 3,216 sq. ft. of finished space.
Finished walkout basement (1,032 sq. ft.) with guest room/office, recreational room, full bathroom, and summer kitchen.
4 bedrooms and 3 bathrooms provide ample and versatile living space.
Hardwood floors and recessed lighting throughout the property.
Charming deck and backyard accessible from both the 1st floor unit and the basement.
Separate utility meters (3 electric, 2 gas), boilers, and hot water heaters for investment flexibility.

We can help!

Contact an agent

Roseanne Degliuomini

For Sale

$899,000

Multi-family property with finished basement, hardwood floors, and backyard.

Type:Multi Family

Property size:

3,216 SF

Lot size:

0.05 Acres

Price / SF:

$279/SF

Added:: Mar 11, 2026
Days on Market:: 118
Last Refresh:: Jul 3 at 2:10 am

Property Features for 1961 Wallace Ave The

General Information

Standard status: Active
Size: 3,216 SF
Lot size: 0.05 Acres
Property subtype: Multi Family

Building Details

Year Built: 1905

We can help!

Contact an agent

Roseanne Degliuomini

Listing office Compass

Listing date Mar 11, 2026

Source Elliman

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 Compass

HighLights

Multi‑family investment opportunity with 3,216 sq. ft. of finished space.
Finished walkout basement (1,032 sq. ft.) with guest room/office, recreational room, full bathroom, and summer kitchen.
4 bedrooms and 3 bathrooms provide ample and versatile living space.
Hardwood floors and recessed lighting throughout the property.
Charming deck and backyard accessible from both the 1st floor unit and the basement.
Separate utility meters (3 electric, 2 gas), boilers, and hot water heaters for investment flexibility.

Overview

This multi-family property offers 3,216 sq. ft. of finished space, including a 1,032 sq. ft. finished walkout basement. The residence features 4 bedrooms and 3 bathrooms. Hardwood floors and recessed lighting are present throughout the property. The kitchen is equipped with a dishwasher, gas stove, and refrigerator. A deck and backyard provide outdoor space for relaxation and entertaining. The finished walkout basement includes a guest room/office, recreational room, full bathroom, and summer kitchen. The backyard is accessible from the first-floor unit or the basement. Additional features include a storage shed, baseboard heating, wall units for cooling, and a washer and dryer. Street parking is available. The property has 3 electric meters, 2 gas meters, 2 boilers, and 2 hot water heaters, making it a potential investment opportunity.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$117.7k	$36.60
− Vacancy	−$6.1k	−$1.91
EGI	$111.6k	$34.69
− OpEx	−$33.5k	−$10.41
NOI	$78.1k	$24.28

3,216 SF · lease $36.60/SF/yr · vacancy 5.22% · expense 30.00%

Alternative Uses

Best Use

Multifamily LT 5

$1.12M

$976.2K – $1.30M (±1% cap)

NOI $78,093 @ 7.0% cap · market cap 8.69%

Second Best

Apartment 5plus

$994.3K

$870.0K – $1.16M (±1% cap)

NOI $69,602 @ 7.0% cap · market cap 7.74%

Theoretical Best

Office A

$1.53M

$1.34M – $1.79M (±1% cap)

NOI $107,415 @ 7.0% cap · market cap 11.95%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Triplexes

Suggested Use

Location Insight

Map
Local Demand

City: Bronx
County: Bronx
State: New York
Longitude: -73.8651
Latitude: 40.8496

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For sale
Triplexes
NY
Bronx
10462
1961 Wallace Ave The

What type of property is this?

Triplex - Multi-family property with finished basement, hardwood floors, and backyard.

Where is this triplex located?

The property is located at 1961 Wallace Ave The Bronx, NY.

What is the asking price?

The asking price for this property is $899,000.

What are key features of this property?

This property features: Multi‑family investment opportunity with 3,216 sq. ft. of finished space.; Finished walkout basement (1,032 sq. ft.) with guest room/office, recreational room, full bathroom, and summer kitchen.; 4 bedrooms and 3 bathrooms provide ample and versatile living space.