Legal 3-Family
For Sale
$1,500,000
767 Prospect Avenue, Bronx, NY 10455
Residential triplex with a finished basement, R6 zoning, and a three-family configuration.
Property Size3,711 SF
Lot Size0.06 Acres
Days on Market275
Property Features for 767 Prospect Avenue
General Information
Standard status
Active
Size
3,711 SF
Lot size
0.06 Acres
Property subtype
Triplex
Zoning
R6
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,877
Building Details
Building Size
3,711 SF
Year Built
1901
Listing Agency:
Keller Williams Realty NYC Grp
(718) 697-6800
Listed By:
Kenneth Fuentes · License #10401214433
Source:
Serhant
Added: Nov 10, 2025
Changed: Aug 9
Last Checked: Aug 11 at 12:25PM
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 Keller Williams Realty NYC Grp
Investment Insights
Based on property information with market context.
This legal three-family triplex includes a 4-bedroom unit, a second 4-bedroom unit, and a 3-bedroom unit. The property also has a finished basement and was built in 1901, providing a multi-unit residential layout with additional finished space.
Located at 767 Prospect Avenue in the Bronx, the property occupies a 25 x 98.33 lot and carries R6 zoning. Its three-family designation and varied bedroom configuration define the asset’s residential setup.
Located at 767 Prospect Avenue in the Bronx, the property occupies a 25 x 98.33 lot and carries R6 zoning. Its three-family designation and varied bedroom configuration define the asset’s residential setup.
Key Highlights
- Legal 3‑family triplex at 767 Prospect Avenue, Bronx, NY 10455
- Unit mix includes 4 bed / 4 bed / 3 bed
- Finished basement included
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
$94,265
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
6.28%
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%
$1,885,300
$1.9M
Cap Rate 7%
$1,346,643
$1.3M
Cap Rate 9%
$1,047,389
$1.0M
Market Conditions
NOI Build-Up for 3,711 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
$142.5K $38.40/SF
− Vacancy
−$7.8K −$2.11/SF
EGI
$134.7K $36.29/SF
− OpEx
−$40.4K −$10.89/SF
NOI
$94.3K $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%
$1,885,300
Cap Rate 7%
$1,346,643
Cap Rate 9%
$1,047,389
Alternative Uses
Best Use
Multifamily LT 5
$1.35M
$1.18M – $1.57M
NOI $94,265 @ 7.0% cap · market cap 6.28%
Second Best
Apartment 5plus
$1.22M
$1.07M – $1.42M
NOI $85,367 @ 7.0% cap · market cap 5.69%
Theoretical Best
Warehouse
$2.57M
$2.25M – $3.00M
NOI $180,002 @ 7.0% cap · market cap 12.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,527
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
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 - Residential triplex with a finished basement, R6 zoning, and a three-family configuration.
Where is this triplex located?
The property is located at 767 Prospect Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Legal 3‑family triplex at 767 Prospect Avenue, Bronx, NY 10455; Unit mix includes 4 bed / 4 bed / 3 bed; Finished basement included
