Residential Income Property with
New
For Sale
$532,000
3135 JOHNSON Avenue 12C, Bronx, NY 10463
High-floor co-op residence with flexible bedroom space, two bathrooms, and access to extensive building amenities.
Property Size1,350 SF
Price / SF$394.07
Days on Market5
Property Features for 3135 JOHNSON Avenue 12C
General Information
Standard status
Active
Size
1,350 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA convertible to 3BR
Multifamily Units
1
Additional Details
HOA Fee
$2,143
Public Transit
Yes
Amenities
gym
outdoor patio
pet friendly
24 hour doorman
storage
upgraded elevators
seasonal heated swimming pool
central laundry
bike storage
balcony
Building Details
Building Size
1,350 SF
Year Built
1953
Listing Agency:
Brown Harris Stevens Riverdale LLC
(917) 923-4795
Listed By:
Belkis Tappan · License #10401208982 (NY)
(917) 923-4795
Source:
Carlinwright
Added: Aug 6
Changed: Aug 9
Last Checked: Aug 9 at 6:55AM
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 Brown Harris Stevens Riverdale LLC
Investment Insights
Based on property information with market context.
This 12th-floor co-op residence at The Edmond Lee offers a two-bedroom layout with the flexibility to create a third bedroom or office. The home includes two full bathrooms, an entry foyer, a windowed eat-in kitchen with quartz countertops, a dining area, parquet flooring, generous closet space, and a private balcony. Views are available from all windows.
The full-service building includes a 24-hour doorman, resident superintendent, porters, upgraded elevators, storage, central laundry, bike storage, a gym, outdoor patio, and a seasonal heated swimming pool with lifeguards. Indoor and outdoor garage parking may be available for an additional fee, subject to availability. The property is pet friendly.
The residence is in Riverdale, near the #1 Subway, Spuyten Duyvil Metro-North station, and local and express bus service to Manhattan. Ewen Park is directly across the building, while Wave Hill, shopping, dining, and coffee shops are nearby.
The full-service building includes a 24-hour doorman, resident superintendent, porters, upgraded elevators, storage, central laundry, bike storage, a gym, outdoor patio, and a seasonal heated swimming pool with lifeguards. Indoor and outdoor garage parking may be available for an additional fee, subject to availability. The property is pet friendly.
The residence is in Riverdale, near the #1 Subway, Spuyten Duyvil Metro-North station, and local and express bus service to Manhattan. Ewen Park is directly across the building, while Wave Hill, shopping, dining, and coffee shops are nearby.
Key Highlights
- Two‑bedroom residence with flexibility for a third bedroom or office
- Private balcony and views from all windows
- 12th‑floor co‑op residence with two full bathrooms
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
$31,055
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
5.84%
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%
$621,100
$621.1K
Cap Rate 7%
$443,643
$443.6K
Cap Rate 9%
$345,056
$345.1K
Market Conditions
NOI Build-Up for 1,350 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
$59.9K $44.40/SF
− Vacancy
−$3.5K −$2.58/SF
EGI
$56.5K $41.82/SF
− OpEx
−$25.4K −$18.82/SF
NOI
$31.1K $23.00/SF
Area
Bronx, NY
Vacancy
5.80%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
45.00%
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%
$621,100
Cap Rate 7%
$443,643
Cap Rate 9%
$345,056
Alternative Uses
Best Use
Apartment 5plus
$443.6K
$388.2K – $517.6K
NOI $31,055 @ 7.0% cap · market cap 5.84%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$935.5K
$818.5K – $1.09M
NOI $65,482 @ 7.0% cap · market cap 12.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
3,093
Businesses Nearby
Explore this area
Business Placement
Demographics for 10463, NY
71,301
Population
30,602
Households
2.3
Avg Household Size
41
Median Age
44%
College-Educated
85%
High-School Grad
2.8 sq mi
ZIP Area
25,465
Density / Sq Mi
$72,952
Median Household Income
$48,409
Median Earnings
$1,611
Median Rent
$352,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - High-floor co-op residence with flexible bedroom space, two bathrooms, and access to extensive building amenities.
Where is this residential income property located?
The property is located at 3135 JOHNSON Avenue 12C Bronx, NY.
What is the asking price?
The asking price for this property is $532,000.
What are key features of this property?
This property features: Two‑bedroom residence with flexibility for a third bedroom or office; Private balcony and views from all windows; 12th‑floor co‑op residence with two full bathrooms
