Renovated 3-Unit Multifamily
New
For Sale
$1,124,999
721 Prospect Avenue, Bronx, NY 10455
All three apartments are occupied by paying tenants who cover their own utilities.
Property Size2,915 SF
Days on Market5
Property Features for 721 Prospect Avenue
General Information
Standard status
Active
Size
2,915 SF
Property subtype
Triplex
Additional Details
Multifamily Units
3
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$5,712
Building Details
Building Size
2,915 SF
Year Built
1901
Listing Agency:
Braithwaite Realty LLC
Listed By:
Joseph A. De Marco
(917) 549-4132
Source:
Serhant
Added: Oct 20
Changed: Oct 23
Last Checked: Oct 23 at 3:25PM
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 Braithwaite Realty LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This three-family property contains three apartments, with closets in every bedroom. The building dates to 1901 and received a full interior and exterior renovation less than 10 years ago.
The sale includes the existing paying tenants, who are responsible for their own utility costs.
The sale includes the existing paying tenants, who are responsible for their own utility costs.
Key Highlights
- Three‑family property with three apartments
- Full interior and exterior renovation completed less than 10 years ago
- Existing paying tenants included in the sale; tenants pay their own utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,046
Cap Rate
6.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,480,920
$1.5M
Cap Rate 7%
$1,057,800
$1.1M
Cap Rate 9%
$822,733
$822.7K
Market Conditions
NOI Build-Up for 2,915 SF
Gross rent
$111.9K $38.40/SF
− Vacancy
−$6.2K −$2.11/SF
EGI
$105.8K $36.29/SF
− OpEx
−$31.7K −$10.89/SF
NOI
$74.0K $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 Rate 5%
$1,480,920
Cap Rate 7%
$1,057,800
Cap Rate 9%
$822,733
Alternative Uses
Best Use
Multifamily LT 5
$1.06M
$925.6K – $1.23M
NOI $74,046 @ 7.0% cap · market cap 6.58%
Second Best
Apartment 5plus
$957.9K
$838.2K – $1.12M
NOI $67,056 @ 7.0% cap · market cap 5.96%
Theoretical Best
Warehouse
$2.02M
$1.77M – $2.36M
NOI $141,392 @ 7.0% cap · market cap 12.57%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,058
Businesses Nearby
Explore this area
Business Placement
Demographics for 10455, NY
43,804
Population
16,608
Households
2.6
Avg Household Size
33
Median Age
16%
College-Educated
69%
High-School Grad
0.7 sq mi
ZIP Area
62,577
Density / Sq Mi
$36,701
Median Household Income
$33,892
Median Earnings
$1,130
Median Rent
$348,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - All three apartments are occupied by paying tenants who cover their own utilities.
Where is this triplex located?
The property is located at 721 Prospect Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,124,999.
What are key features of this property?
This property features: Three‑family property with three apartments; Full interior and exterior renovation completed less than 10 years ago; Existing paying tenants included in the sale; tenants pay their own utilities
