Wakefield Legal 3-Family
For Sale
$850,000
Pending
4600 Bronx Blvd The, Bronx, NY 10470
Legal 3-family home with income potential in Wakefield.
Property Size2,600 SF
Lot Size0.05 Acres
Days on Market165
Property Features for 4600 Bronx Blvd The
General Information
Standard status
Pending
Size
2,600 SF
Lot size
0.05 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$7,999
Building Details
Building Size
2,600 SF
Year Built
1989
Units
3
Listing Agency:
VORO LLC
(646) 348-4472
Listed By:
Mohammad G. Amin · License #40CH1104872
(646) 348-4472
Source:
Elliman
Added: Mar 12
Changed: Aug 8
Last Checked: Aug 22 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 VORO LLC
Investment Insights
Based on property information with market context.
This legal 3-family semi-detached brick home presents an investment opportunity on a corner lot. The property features two occupied units and a vacant first-floor apartment with exclusive backyard access. This setup is suitable for owner-occupancy or immediate rental income. The property includes a private driveway and garage parking. Its location provides convenient access to Metro-North, shopping, schools, and parks. The brick construction offers durability and reduced maintenance needs, while the corner lot enhances curb appeal and natural light. This property is located in an established Bronx neighborhood. It is suited for investors seeking stable cash flow or homebuyers aiming to offset living expenses with rental income.
Key Highlights
- Legal 3‑family home offers excellent income potential with two occupied units.
- Vacant 1st‑floor apartment with exclusive backyard access ideal for owner‑occupancy or immediate rental income.
- Private driveway and garage parking.
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
$66,044
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
7.77%
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%
$1,320,880
$1.3M
Cap Rate 7%
$943,486
$943.5K
Cap Rate 9%
$733,822
$733.8K
Market Conditions
NOI Build-Up for 2,600 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
$99.8K $38.40/SF
− Vacancy
−$5.5K −$2.11/SF
EGI
$94.3K $36.29/SF
− OpEx
−$28.3K −$10.89/SF
NOI
$66.0K $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%
$1,320,880
Cap Rate 7%
$943,486
Cap Rate 9%
$733,822
Alternative Uses
Best Use
Multifamily LT 5
$943.5K
$825.6K – $1.10M
NOI $66,044 @ 7.0% cap · market cap 7.77%
Second Best
Apartment 5plus
$854.4K
$747.6K – $996.8K
NOI $59,809 @ 7.0% cap · market cap 7.04%
Theoretical Best
Warehouse
$1.80M
$1.58M – $2.10M
NOI $126,113 @ 7.0% cap · market cap 14.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,073
Businesses Nearby
Explore this area
Business Placement
Demographics for 10470, NY
16,686
Population
6,869
Households
2.4
Avg Household Size
38
Median Age
41%
College-Educated
86%
High-School Grad
1.4 sq mi
ZIP Area
11,919
Density / Sq Mi
$81,134
Median Household Income
$54,227
Median Earnings
$1,656
Median Rent
$500,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Legal 3-family home with income potential in Wakefield.
Where is this triplex located?
The property is located at 4600 Bronx Blvd The Bronx, NY.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Legal 3‑family home offers excellent income potential with two occupied units.; Vacant 1st‑floor apartment with exclusive backyard access ideal for owner‑occupancy or immediate rental income.; Private driveway and garage parking.
