Three-Family Brick
324 East 197th Street, Bronx, NY 10458
For Sale
Contact for pricing
The three-story residential building contains three free-market apartments on a city lot.
Property Size3,474 SF
Lot Size0.07 Acres
Price / SF$401.55
Days on Market37
Property Features for 324 East 197th Street
General Information
Standard status
Size
Lot size
Property subtype
Additional Details
Public Transit
Multifamily Units
Tenant in Place
Building Details
Stories
Construction
Listing Agency:
RIPCO Real Estate
Listed By:
Brian Whelan · License NY #10401277435
(646) 993-7328
Source:
Crexi
Added: Oct 5
Changed: Nov 8
Last Checked: Nov 10 at 6:13AM
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 RIPCO Real Estate
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Investment Insights
Based on property information with market context.
This three-story brick triplex contains three free-market residential units and approximately 3,474 square feet of building area. The property occupies a 25-foot-by-116-foot lot in Bedford Park, Bronx.
Parks, local universities, and transit access are noted in the surrounding area. The building is not subject to rent stabilization, according to the provided property information.
Parks, local universities, and transit access are noted in the surrounding area. The building is not subject to rent stabilization, according to the provided property information.
Key Highlights
- Three‑story brick building with three free‑market residential units
- Approximately 3,474 SF of building area
- 25' x 116' lot in Bedford Park, Bronx
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$88,245
Cap Rate
6.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,764,900
$1.8M
Cap Rate 7%
$1,260,643
$1.3M
Cap Rate 9%
$980,500
$980.5K
Market Conditions
NOI Build-Up for 3,474 SF
Gross rent
$133.4K $38.40/SF
− Vacancy
−$7.3K −$2.11/SF
EGI
$126.1K $36.29/SF
− OpEx
−$37.8K −$10.89/SF
NOI
$88.2K $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%
$1,764,900
Cap Rate 7%
$1,260,643
Cap Rate 9%
$980,500
Alternative Uses
Best Use
Multifamily LT 5
$1.26M
$1.10M – $1.47M
NOI $88,245 @ 7.0% cap · market cap 6.33%
Second Best
Apartment 5plus
$1.14M
$998.9K – $1.33M
NOI $79,915 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $116,032 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,785
Businesses Nearby
Explore this area
Business Placement
Demographics for 10458, NY
81,299
Population
30,592
Households
2.7
Avg Household Size
32
Median Age
16%
College-Educated
68%
High-School Grad
1.2 sq mi
ZIP Area
67,749
Density / Sq Mi
$42,107
Median Household Income
$29,596
Median Earnings
$1,548
Median Rent
$515,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Triplexes in Bronx, NY
Properties on Market for Triplexes in Bronx
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - The three-story residential building contains three free-market apartments on a city lot.
Where is this triplex located?
The property is located at 324 East 197th Street Bronx, NY.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: Three‑story brick building with three free‑market residential units; Approximately 3,474 SF of building area; 25' x 116' lot in Bedford Park, Bronx
