Three-Unit Residential Income
For Sale
$950,000
Pending
2025 Hobart Ave The, Bronx, NY 10461
As-is three-unit triplex with bedroom configurations spanning 3BR over 2BR and two additional 2BR units.
Property Size3,060 SF
Days on Market129
Property Features for 2025 Hobart Ave The
General Information
Standard status
Pending
Size
3,060 SF
Property subtype
Investment
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,975
Building Details
Building Size
3,060 SF
Year Built
1920
Units
3
Tenancy
Multi
Listing Agency:
G.C.B International Realty Co.
Listed By:
Richard Torres
(718) 709-0610
Source:
Elliman
Added: Apr 28
Changed: Aug 23
Last Checked: Sep 1 at 8:55PM
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 G.C.B International Realty Co.
Investment Insights
Based on property information with market context.
This three-unit triplex at 2025 Hobart Avenue is being sold as-is and configured for residential rental use. The layout includes a 3-bedroom unit over a 2-bedroom unit, plus two additional 2-bedroom units.
The property is in the Pelham Bay section of the Bronx and is near public transportation, with access to the B6, Bx5, and Bx8 bus lines. Pelham Bay Park station for the 6 train is described as just minutes away, supporting direct access into Manhattan. Bay Plaza Shopping Center is nearby, with stores including Target, Marshalls, and Burlington, and grocery options include ShopRite and Stop & Shop.
WalkScore, BikeScore, and TransitScore are provided as 94, 82, and 92, respectively.
The property is in the Pelham Bay section of the Bronx and is near public transportation, with access to the B6, Bx5, and Bx8 bus lines. Pelham Bay Park station for the 6 train is described as just minutes away, supporting direct access into Manhattan. Bay Plaza Shopping Center is nearby, with stores including Target, Marshalls, and Burlington, and grocery options include ShopRite and Stop & Shop.
WalkScore, BikeScore, and TransitScore are provided as 94, 82, and 92, respectively.
Key Highlights
- As‑is 3‑unit multi‑family triplex at 2025 Hobart Avenue
- Unit mix includes 3BR over 2BR plus two additional 2BR units
- Near Pelham Bay Park (6 train), with direct access into Manhattan
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
$77,729
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
8.18%
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%
$1,554,580
$1.6M
Cap Rate 7%
$1,110,414
$1.1M
Cap Rate 9%
$863,656
$863.7K
Market Conditions
NOI Build-Up for 3,060 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
$117.5K $38.40/SF
− Vacancy
−$6.5K −$2.11/SF
EGI
$111.0K $36.29/SF
− OpEx
−$33.3K −$10.89/SF
NOI
$77.7K $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%
$1,554,580
Cap Rate 7%
$1,110,414
Cap Rate 9%
$863,656
Alternative Uses
Best Use
Multifamily LT 5
$1.11M
$971.6K – $1.30M
NOI $77,729 @ 7.0% cap · market cap 8.18%
Second Best
Apartment 5plus
$1.01M
$879.9K – $1.17M
NOI $70,391 @ 7.0% cap · market cap 7.41%
Theoretical Best
Warehouse
$2.12M
$1.86M – $2.47M
NOI $148,426 @ 7.0% cap · market cap 15.62%
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
2,078
Businesses Nearby
Explore this area
Business Placement
Demographics for 10461, NY
54,901
Population
20,418
Households
2.7
Avg Household Size
38
Median Age
27%
College-Educated
82%
High-School Grad
2.4 sq mi
ZIP Area
22,875
Density / Sq Mi
$65,023
Median Household Income
$45,445
Median Earnings
$1,741
Median Rent
$640,400
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 - As-is three-unit triplex with bedroom configurations spanning 3BR over 2BR and two additional 2BR units.
Where is this triplex located?
The property is located at 2025 Hobart Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: As‑is 3‑unit multi‑family triplex at 2025 Hobart Avenue; Unit mix includes 3BR over 2BR plus two additional 2BR units; Near Pelham Bay Park (6 train), with direct access into Manhattan
