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    Turnkey Triplex with Finished Basement Title is generated by Realmo AI

    2722 Wallace Avenue, Bronx, NY 10467

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    New
    For Sale
    $999,000

    MULTI_FAMILY - Bronx, NY

    Lot size:
    0.05 Acres
    Added:
    Jun 5, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 6 at 2:06 am

    Property Features for 2722 Wallace Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    9
    Bathrooms
    3
    Rooms
    Bathroom 2, Bedroom 7, Bathroom 3, Bedroom 5, Bedroom 8, Bedroom 9, Bedroom 6, Bedroom 3, Bathroom 1, Basement, Bedroom 4, Bedroom 1, Bedroom 2
    Parking features
    On Street
    Interior features
    First Floor Bedroom, First Floor Full Bath, Primary Bathroom
    Basement
    Full
    Standard status
    Active
    APN
    04512-0008
    Lot size
    0.05 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    4830

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Baseboard
    Cooling system
    Window Unit(s), Wall/Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    2002
    Number of units
    3
    Building materials
    Brick

    We can help!

    Listing Contact
    Valon Nikci
    Valon Nikci

    Listing agent Valon Nikci License #10491202180

    Listing office Link NY Realty 141 Parkway Road, Suite 28, Bronxville, NY

    Listing date Jun 5, 2026

    MLS# 1009825 Listing URL

    Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 3‑apartment multifamily with each unit offering 3 bedrooms and 1 full bathroom
    • Finished basement adds additional usable space to the building
    • Gross income of $6,667/mo reported by the seller; 2 apartments fully occupied and the 3rd‑floor unit currently vacant
    • Built in 2002; brick construction; baseboard heating and window/wall AC units
    • Public water and public sewer
    • Tenants pay heat and electric; landlord pays water and insurance; on‑street parking

    Overview

    This newly constructed triplex offers three residential apartments configured with three bedrooms and one full bathroom each. Two units are currently fully occupied, and the third-floor unit is scheduled to come vacant. The property is described as being in excellent condition with minimal maintenance requirements, and it includes a finished basement that provides additional usable space for the building.

    The building is located at 2722 Wallace Avenue in the Bronx, NY 10467. The offering notes that tenants pay their own heat and electric, while the landlord’s expenses are limited to water and insurance. The property is also identified as non-Article XI.

    From an ownership standpoint, this setup can be appealing for buyers seeking a straightforward residential income property with reduced landlord utility responsibility. With two units already occupied and one unit coming vacant, the landlord may have flexibility in how the third unit is handled while maintaining an overall income-producing structure. Because the property is presented as turnkey and in exceptional condition, it may suit buyers looking for a low-maintenance multifamily asset with the option to adjust rents on the unit that is becoming available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.864147
    Latitude
    40.866249

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    FAQs

    What type of property is this?
    Triplex - A newly constructed triplex with two occupied units and a soon-to-vacate third-floor apartment.
    Where is this triplex located?
    The property is located at 2722 Wallace Avenue Bronx, NY.
    What is the asking price?
    The asking price for this property is $999,000.
    What are key features of this property?
    This property features: 3‑apartment multifamily with each unit offering 3 bedrooms and 1 full bathroom; Finished basement adds additional usable space to the building; Gross income of $6,667/mo reported by the seller; 2 apartments fully occupied and the 3rd‑floor unit currently vacant
    (646) 321-9428
    We can help!
    Listing Contact
    Valon Nikci
    Valon Nikci
    Real Estate License ID: 10491202180
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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