3-Unit
3520 Corsa Ave The, Bronx, NY 10469
For Sale
New
$1,200,000
One unit is occupied, with the remaining two units vacant.
Property Size3,726 SF
Days on Market2
Property Features for 3520 Corsa Ave The
General Information
Standard status
Size
Property subtype
Property Condition
Severity
Evidence
Additional Details
Public Transit
Multifamily Units
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Units
Listed By:
Michael Kingston
Source:
Elliman
Added: Nov 8
Last Checked: Nov 8 at 2:26PM
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 Michael Kingston
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Investment Insights
Based on property information with market context.
Built in 1988, this three-unit property is offered in as-is condition and requires some repair and updating. One unit is occupied; the other two are vacant.
The property is at 3520 Corsa Ave in The Bronx. Its reported scores are 74 for biking, 83 for walking, and 82 for transit.
The property is at 3520 Corsa Ave in The Bronx. Its reported scores are 74 for biking, 83 for walking, and 82 for transit.
Key Highlights
- Three units; one occupied and two vacant
- Built in 1988
- Offered in as‑is condition; repairs and updating are needed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$94,646
Cap Rate
7.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,892,920
$1.9M
Cap Rate 7%
$1,352,086
$1.4M
Cap Rate 9%
$1,051,622
$1.1M
Market Conditions
NOI Build-Up for 3,726 SF
Gross rent
$143.1K $38.40/SF
− Vacancy
−$7.9K −$2.11/SF
EGI
$135.2K $36.29/SF
− OpEx
−$40.6K −$10.89/SF
NOI
$94.6K $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%
$1,892,920
Cap Rate 7%
$1,352,086
Cap Rate 9%
$1,051,622
Alternative Uses
Best Use
Multifamily LT 5
$1.35M
$1.18M – $1.58M
NOI $94,646 @ 7.0% cap · market cap 7.89%
Second Best
Apartment 5plus
$1.22M
$1.07M – $1.43M
NOI $85,712 @ 7.0% cap · market cap 7.14%
Theoretical Best
Office A
$1.78M
$1.56M – $2.07M
NOI $124,449 @ 7.0% cap · market cap 10.37%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,946
Businesses Nearby
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Business Placement
Demographics for 10469, NY
71,571
Population
25,082
Households
2.9
Avg Household Size
39
Median Age
29%
College-Educated
83%
High-School Grad
2.4 sq mi
ZIP Area
29,821
Density / Sq Mi
$76,018
Median Household Income
$45,857
Median Earnings
$1,653
Median Rent
$640,400
Median Home Value
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Market
Average Price Trend$/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 - One unit is occupied, with the remaining two units vacant.
Where is this triplex located?
The property is located at 3520 Corsa Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Three units; one occupied and two vacant; Built in 1988; Offered in as‑is condition; repairs and updating are needed
