Three-Unit Residential Income
For Sale
$1,288,999
2515 Holland Avenue, Bronx, NY 10467
Three residential units with individual electric panels and a finished basement, with tenants paying their own utilities.
Property Size2,520 SF
Price / SF$511.51
Days on Market232
Property Features for 2515 Holland Avenue
General Information
Standard status
Active
Size
2,520 SF
Property subtype
Triplex
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,526
Amenities
No, Square Feet
No
Finished, Full, Walk-Out Access, Yes
Wood
Back Yard, Ceiling Fan(s), Garden, Mailbox, Public, Wood
Ceiling Fan(s)
Walk Out Basement
Back Yard
Garden, Mailbox
Advanced Framing Technique
Garden, Mailbox, Detached, Garage, Back Yard
Building Details
Year Built
1920
Listing Agency:
Compass
Listed By:
Luz Lopez · License #10401271483
(347) 261-5398
Source:
Compass
Added: Jan 16
Changed: Sep 3
Last Checked: Sep 4 at 4:20PM
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
Investment Insights
Based on property information with market context.
Welcome to 2515 Holland Ave, a three-family residential income property offering three separate units and a full finished basement. The first-floor unit features three bedrooms and one bathroom, while the two second-floor units each offer two bedrooms and one bathroom. The property includes tenants paying their own utilities, and each unit has its own electric panel, with a mix of gas and fully electric units.
The property is located in the Allerton neighborhood of the Bronx, with walk, bike, and transit ratings indicating strong access to daily conveniences and transportation options.
From a layout standpoint, the building provides three distinct residential configurations plus a finished basement, making it well-suited for income-focused ownership or owner-occupant use where the remaining units can offset expenses.
The property is located in the Allerton neighborhood of the Bronx, with walk, bike, and transit ratings indicating strong access to daily conveniences and transportation options.
From a layout standpoint, the building provides three distinct residential configurations plus a finished basement, making it well-suited for income-focused ownership or owner-occupant use where the remaining units can offset expenses.
Key Highlights
- 3‑family property built in 1920 in the Allerton neighborhood of the Bronx
- Unit mix: one 3‑bedroom, 1‑bath on the first floor, plus two 2‑bedroom, 1‑bath units on the second floor
- Full finished basement included
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
$61,355
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
4.76%
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%
$1,227,100
$1.2M
Cap Rate 7%
$876,500
$876.5K
Cap Rate 9%
$681,722
$681.7K
Market Conditions
NOI Build-Up for 2,520 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
$93.7K $37.20/SF
− Vacancy
−$6.1K −$2.42/SF
EGI
$87.7K $34.78/SF
− OpEx
−$26.3K −$10.43/SF
NOI
$61.4K $24.35/SF
Area
ZIP 10467
Vacancy
6.50%
Lease Rate
$37.20 /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%
$1,227,100
Cap Rate 7%
$876,500
Cap Rate 9%
$681,722
Alternative Uses
Best Use
Multifamily LT 5
$876.5K
$766.9K – $1.02M
NOI $61,355 @ 7.0% cap · market cap 4.76%
Second Best
Apartment 5plus
$783.4K
$685.5K – $913.9K
NOI $54,836 @ 7.0% cap · market cap 4.25%
Theoretical Best
Warehouse
$1.75M
$1.53M – $2.04M
NOI $122,233 @ 7.0% cap · market cap 9.48%
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
2,674
Businesses Nearby
Explore this area
Business Placement
Demographics for 10467, NY
103,660
Population
40,582
Households
2.6
Avg Household Size
36
Median Age
22%
College-Educated
75%
High-School Grad
2.3 sq mi
ZIP Area
45,070
Density / Sq Mi
$47,806
Median Household Income
$36,949
Median Earnings
$1,505
Median Rent
$425,500
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 with individual electric panels and a finished basement, with tenants paying their own utilities.
Where is this triplex located?
The property is located at 2515 Holland Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,288,999.
What are key features of this property?
This property features: 3‑family property built in 1920 in the Allerton neighborhood of the Bronx; Unit mix: one 3‑bedroom, 1‑bath on the first floor, plus two 2‑bedroom, 1‑bath units on the second floor; Full finished basement included
