3-Unit Multifamily Building with
For Sale
$1,349,000
2531b Grand Avenue, Bronx, NY 10468
Three apartments have separate gas and electric meters, and the ground-floor residence has private rear outdoor space.
Property Size3,206 SF
Lot Size0.05 Acres
Price / SF$420.77
Days on Market41
Property Features for 2531b Grand Avenue
General Information
Standard status
Active
Size
3,206 SF
Total Parking Spaces
2
Lot size
0.05 Acres
Property subtype
Residential Income
Zoning
R6
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/2BA, 2 x 3BR/2BA
Multifamily Units
3
Individually Metered Utilities
gas, electric
Taxes and HOA fees
Annual Taxes
$237
Amenities
First Floor Bedroom
First Floor Full Bath
Eat-in Kitchen
Formal Dining
High Speed Internet
Marble Counters
Open Kitchen
Original Details
Primary Bathroom
Storage
Building Details
Building Size
3,206 SF
Year Built
2004
Buildings
1
Stories
3
Units
3
Listing Agency:
Best Hope Realty Inc
(718) 685-2000
Listed By:
Mohammed S. Ali
(347) 236-2737
Source:
Halknopfrealty
Added: Sep 19
Changed: Oct 26
Last Checked: Oct 26 at 4:01AM
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 Best Hope Realty Inc
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Investment Insights
Based on property information with market context.
Built in 2004, this three-family property contains approximately 3,206 square feet of living space. The unit mix includes a first-floor apartment with 2 bedrooms and 2 baths, plus 3-bedroom, 2-bath apartments on each of the upper floors. Hardwood flooring and natural-gas heat are provided, with gas and electric service separately metered for each apartment. The first-floor residence has access to private outdoor space at the rear, and two parking spaces are located at the front of the property.
The property is at 2531b Grand Avenue in the Bronx, on an approximately 18.75' x 106' lot within an R6 zoning district. Nearby transit options include the 4 and D subway lines and the Bx12, Bx9, Bx3, Bx22 and Bx28 bus routes. Shopping, schools, colleges, healthcare facilities and major roadways are also identified in the surrounding area.
The property is at 2531b Grand Avenue in the Bronx, on an approximately 18.75' x 106' lot within an R6 zoning district. Nearby transit options include the 4 and D subway lines and the Bx12, Bx9, Bx3, Bx22 and Bx28 bus routes. Shopping, schools, colleges, healthcare facilities and major roadways are also identified in the surrounding area.
Key Highlights
- Three apartments: one 2‑bedroom, 2‑bath unit and two 3‑bedroom, 2‑bath units
- Approximately 3,206 sq. ft. of living space; built in 2004
- Two front parking spaces and private rear outdoor space for the first‑floor unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$81,438
Cap Rate
6.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,628,760
$1.6M
Cap Rate 7%
$1,163,400
$1.2M
Cap Rate 9%
$904,867
$904.9K
Market Conditions
NOI Build-Up for 3,206 SF
Gross rent
$123.1K $38.40/SF
− Vacancy
−$6.8K −$2.11/SF
EGI
$116.3K $36.29/SF
− OpEx
−$34.9K −$10.89/SF
NOI
$81.4K $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%
$1,628,760
Cap Rate 7%
$1,163,400
Cap Rate 9%
$904,867
Alternative Uses
Best Use
Multifamily LT 5
$1.16M
$1.02M – $1.36M
NOI $81,438 @ 7.0% cap · market cap 6.04%
Second Best
Apartment 5plus
$1.05M
$921.9K – $1.23M
NOI $73,750 @ 7.0% cap · market cap 5.47%
Theoretical Best
Warehouse
$2.22M
$1.94M – $2.59M
NOI $155,507 @ 7.0% cap · market cap 11.53%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
5,193
Businesses Nearby
Explore this area
Business Placement
Demographics for 10468, NY
78,238
Population
29,553
Households
2.6
Avg Household Size
35
Median Age
16%
College-Educated
72%
High-School Grad
1.0 sq mi
ZIP Area
78,238
Density / Sq Mi
$46,624
Median Household Income
$29,914
Median Earnings
$1,594
Median Rent
$259,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three apartments have separate gas and electric meters, and the ground-floor residence has private rear outdoor space.
Where is this triplex located?
The property is located at 2531b Grand Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,349,000.
What are key features of this property?
This property features: Three apartments: one 2‑bedroom, 2‑bath unit and two 3‑bedroom, 2‑bath units; Approximately 3,206 sq. ft. of living space; built in 2004; Two front parking spaces and private rear outdoor space for the first‑floor unit
