Triplex with Separate Heating
New
For Sale
$1,800,000
2905 Wilkinson Ave The, Bronx, NY 10461
The three residences comprise two three-bedroom units and one one-bedroom unit, each with a separate heating system.
Property Size4,104 SF
Lot Size0.11 Acres
Price / SF$439.02
Days on Market2
Property Features for 2905 Wilkinson Ave The
General Information
Standard status
Active
Size
4,104 SF
Lot size
0.11 Acres
Property subtype
Investment
Units
Unit Mix
2 x 3BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$10,741
Building Details
Building Size
4,104 SF
Year Built
1965
Buildings
1
Units
3
Construction
brick
Listing Agency:
homecoin.com
Listed By:
JONATHAN MINERICK · License #01523060
(888) 400-2513
Source:
Elliman
Added: Sep 26
Last Checked: Sep 26 at 3:12PM
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 homecoin.com
Investment Insights
Based on property information with market context.
This brick triplex contains three residences with a combined interior area of more than 4,100 square feet. The upper and middle units each have three bedrooms and one bathroom; the lower unit has one bedroom and one bathroom. The property occupies a 50-by-100-foot lot. A roof replacement, window replacement, and new heating systems were completed in 2019, with an individual heating system serving each unit. Renovation work is complete.
In Pelham Bay, the property is a few blocks from the Pelham Bay Park station on the 6 train and has access to multiple express bus routes. Walk Score is 70, Bike Score is 62, and Transit Score is 91.
In Pelham Bay, the property is a few blocks from the Pelham Bay Park station on the 6 train and has access to multiple express bus routes. Walk Score is 70, Bike Score is 62, and Transit Score is 91.
Key Highlights
- Three residences: two 3‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit
- More than 4,100 square feet of interior space on a 50x100 property lot
- Separate heating system for each unit
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
$104,147
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
5.79%
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%
$2,082,940
$2.1M
Cap Rate 7%
$1,487,814
$1.5M
Cap Rate 9%
$1,157,189
$1.2M
Market Conditions
NOI Build-Up for 4,100 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
$157.4K $38.40/SF
− Vacancy
−$8.7K −$2.11/SF
EGI
$148.8K $36.29/SF
− OpEx
−$44.6K −$10.89/SF
NOI
$104.1K $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%
$2,082,940
Cap Rate 7%
$1,487,814
Cap Rate 9%
$1,157,189
Alternative Uses
Best Use
Multifamily LT 5
$1.49M
$1.30M – $1.74M
NOI $104,147 @ 7.0% cap · market cap 5.79%
Second Best
Apartment 5plus
$1.35M
$1.18M – $1.57M
NOI $94,315 @ 7.0% cap · market cap 5.24%
Theoretical Best
Warehouse
$2.84M
$2.49M – $3.31M
NOI $198,871 @ 7.0% cap · market cap 11.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - The three residences comprise two three-bedroom units and one one-bedroom unit, each with a separate heating system.
Where is this triplex located?
The property is located at 2905 Wilkinson Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Three residences: two 3‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit; More than 4,100 square feet of interior space on a 50x100 property lot; Separate heating system for each unit
