Renovated Residential Income Condo with Outdoor
For Sale
$1,150,000
3220 ARLINGTON Avenue 3A, Bronx, NY 10463
Renovated three-bedroom, two-and-a-half-bath condominium unit with a deeded indoor parking space and a large sun-filled outdoor terrace.
Property Size2,045 SF
Price / SF$562.35
Days on Market50
Property Features for 3220 ARLINGTON Avenue 3A
General Information
Standard status
Active
Size
2,045 SF
Property subtype
Apartment
Building Details
Building Size
2,045 SF
Year Built
2007
Listing Agency:
Douglas Elliman Real Estate
(646) 599-0040
Listed By:
Abraham Sarway · License #10301221964
(646) 599-0040
Source:
Carlinwright
Added: Jun 26
Changed: Aug 10
Last Checked: Aug 13 at 11:20AM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
Experience a newly renovated condominium residence at Riverstone in Riverdale. This 2,045 SF home offers three bedrooms, two bathrooms, and one powder room, with floor-to-ceiling windows facing south, east, and north. The living space opens to an expansive 1,101 SF sun-filled outdoor area.
The kitchen is finished with cherry wood cabinets with pantry, granite countertops, a slate backsplash, and Viking and Subzero appliances, including a six-burner Viking stove and Subzero refrigerator. The residence also includes a washer/dryer. The primary suite features a walk-in closet and an en-suite bath with a double vanity, bathtub, and standup shower, while the second and third bedrooms have large closets.
The unit transfers with one deeded indoor parking space. Building amenities include a 24-hour doorman, concierge, business center, movie theatre, cold storage, playroom, roof deck with grill, and a health club with a fitness center, indoor pool, sauna, and steam room. Access to Midtown is described as a Metro Card swipe, with an approximately 22-minute trip to Grand Central via Metro-North.
The kitchen is finished with cherry wood cabinets with pantry, granite countertops, a slate backsplash, and Viking and Subzero appliances, including a six-burner Viking stove and Subzero refrigerator. The residence also includes a washer/dryer. The primary suite features a walk-in closet and an en-suite bath with a double vanity, bathtub, and standup shower, while the second and third bedrooms have large closets.
The unit transfers with one deeded indoor parking space. Building amenities include a 24-hour doorman, concierge, business center, movie theatre, cold storage, playroom, roof deck with grill, and a health club with a fitness center, indoor pool, sauna, and steam room. Access to Midtown is described as a Metro Card swipe, with an approximately 22-minute trip to Grand Central via Metro-North.
Key Highlights
- Newly renovated condominium residence in Riverstone
- 2,045 SF interior with three bedrooms and three bathrooms total (two full, one powder)
- Floor‑to‑ceiling windows facing south, east, and north
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
$47,042
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
4.09%
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%
$940,840
$940.8K
Cap Rate 7%
$672,029
$672.0K
Cap Rate 9%
$522,689
$522.7K
Market Conditions
NOI Build-Up for 2,045 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
$90.8K $44.40/SF
− Vacancy
−$5.3K −$2.58/SF
EGI
$85.5K $41.82/SF
− OpEx
−$38.5K −$18.82/SF
NOI
$47.0K $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%
$940,840
Cap Rate 7%
$672,029
Cap Rate 9%
$522,689
Alternative Uses
Best Use
Apartment 5plus
$672.0K
$588.0K – $784.0K
NOI $47,042 @ 7.0% cap · market cap 4.09%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.42M
$1.24M – $1.65M
NOI $99,193 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,835
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 - Renovated three-bedroom, two-and-a-half-bath condominium unit with a deeded indoor parking space and a large sun-filled outdoor terrace.
Where is this residential income property located?
The property is located at 3220 ARLINGTON Avenue 3A Bronx, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Newly renovated condominium residence in Riverstone; 2,045 SF interior with three bedrooms and three bathrooms total (two full, one powder); Floor‑to‑ceiling windows facing south, east, and north
