Three-Unit Triplex with Private
523 E 148th St The Bronx, NY 10455
523 E 148th St The, Bronx, NY, 10455
$1,367,000
For Sale
$1,367,000
Three-unit income property with separate utilities and a walk-out basement leading to a private backyard.
Property Size3,606 SF
Price / SF$379.09
Days on Market49
Property Features for 523 E 148th St The
General Information
- Standard status
- Active
- Size
- 3,606 SF
- Property subtype
- Investment
Building Details
- Year Built
- 2005
Listing agency
(646) 373-3867
Listed by
Evelyn Jean-Delere
(646) 373-3867
Source
Elliman
Added: Jun 3 Updated: Jul 10 at 1:50PM Checked: Jul 21 at 8:12AM
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 Evelyn Jean-Delere
Investment Insights
Based on property information with market context.
This three-unit triplex provides a flexible mix of spacious layouts, including combinations of two- to three-bedroom units. Two-bedroom configurations feature two bathrooms, while the three-bedroom unit includes an ensuite. The building also offers separate utilities, supporting convenient management and potential cost control for an owner. A full walk-out basement adds additional living or storage space and opens directly to a large private backyard.
The property is positioned for easy city access in Mott Haven, with walkability and transit convenience noted by Walk Score 97 and Transit Score 100. It is described as being near the 2, 5, and 6 subway lines, along with the Bx17 bus, supporting straightforward commuting throughout the Bronx and beyond.
For investors or owner-occupants, the unit mix and separate utilities can support a practical approach to leasing and day-to-day operations. The first and third floor units are currently occupied, with no leases in place as per seller request, and the property can be delivered vacant for an incoming buyer who wants to customize use. With the combination of interior flexibility and outdoor space, this triplex may fit buyers looking for a multi-unit property in a connected, developing area of the neighborhood.
The property is positioned for easy city access in Mott Haven, with walkability and transit convenience noted by Walk Score 97 and Transit Score 100. It is described as being near the 2, 5, and 6 subway lines, along with the Bx17 bus, supporting straightforward commuting throughout the Bronx and beyond.
For investors or owner-occupants, the unit mix and separate utilities can support a practical approach to leasing and day-to-day operations. The first and third floor units are currently occupied, with no leases in place as per seller request, and the property can be delivered vacant for an incoming buyer who wants to customize use. With the combination of interior flexibility and outdoor space, this triplex may fit buyers looking for a multi-unit property in a connected, developing area of the neighborhood.
Key Highlights
- 3‑unit triplex (3,606 sq. ft.) built in 2005 in Mott Haven
- Flexible unit mix with spacious 2–3 and 3‑bedroom apartments; 2 bedrooms include 2 bathrooms and 3 bedrooms include an ensuite
- Separate utilities for each unit
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $138.5k | $38.40 |
| − Vacancy | −$7.6k | −$2.11 |
| EGI | $130.9k | $36.29 |
| − OpEx | −$39.3k | −$10.89 |
| NOI | $91.6k | $25.40 |
3,606 SF · lease $38.40/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.31M
$1.14M – $1.53M
NOI $91,598 @ 7.0% cap · market cap 6.70%
Second Best
Apartment 5plus
$1.19M
$1.04M – $1.38M
NOI $82,951 @ 7.0% cap · market cap 6.07%
Theoretical Best
Warehouse
$2.50M
$2.19M – $2.92M
NOI $174,909 @ 7.0% cap · market cap 12.80%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-unit income property with separate utilities and a walk-out basement leading to a private backyard.
Where is this triplex located?
The property is located at 523 E 148th St The Bronx, NY.
What is the asking price?
The asking price for this property is $1,367,000.
What are key features of this property?
This property features: 3‑unit triplex (3,606 sq. ft.) built in 2005 in Mott Haven; Flexible unit mix with spacious 2–3 and 3‑bedroom apartments; 2 bedrooms include 2 bathrooms and 3 bedrooms include an ensuite; Separate utilities for each unit
