Legal Triplex With Separate
For Sale
$1,049,000
Pending
819 E 223rd St The, Bronx, NY 10466
Three apartments offer matching bedroom and bath layouts, hardwood floors, and dedicated heating and hot-water equipment.
Property Size3,504 SF
Days on Market45
Property Features for 819 E 223rd St The
General Information
Standard status
Pending
Size
3,504 SF
Property subtype
Investment
Units
Unit Mix
3 x 3BR/2BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$7,685
Building Details
Building Size
3,504 SF
Year Built
1925
Buildings
1
Stories
3
Units
3
Listing Agency:
RE/MAX Distinguished Homes & Properties
Listed By:
Hermi Aquino · License #30AQ1103641
(646) 685-6269
Source:
Elliman
Added: Jul 21
Changed: Sep 3
Last Checked: Sep 2 at 7:38PM
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 RE/MAX Distinguished Homes & Properties
Investment Insights
Based on property information with market context.
This legal triplex at 819 E 223rd St comprises three residential apartments, with one unit on each floor. Every apartment includes 3 bedrooms and 2 full baths, along with living, dining, and kitchen areas. Hardwood flooring runs throughout the building, while each residence has its own boiler and hot-water heater.
The property is located in the Williamsbridge section of The Bronx, NY 10466. The 2 and 5 subway station is within steps of the building, with additional bus service, schools, hospitals, shopping hubs, and major highways nearby. Built in 1925, the property provides a consistent three-unit configuration across all levels.
The property is located in the Williamsbridge section of The Bronx, NY 10466. The 2 and 5 subway station is within steps of the building, with additional bus service, schools, hospitals, shopping hubs, and major highways nearby. Built in 1925, the property provides a consistent three-unit configuration across all levels.
Key Highlights
- Legal 3‑family property with one apartment on each floor
- Each unit includes 3 bedrooms and 2 full baths
- Separate boiler and hot‑water heater serving each unit
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
$89,007
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
8.48%
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%
$1,780,140
$1.8M
Cap Rate 7%
$1,271,529
$1.3M
Cap Rate 9%
$988,967
$989.0K
Market Conditions
NOI Build-Up for 3,504 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
$134.6K $38.40/SF
− Vacancy
−$7.4K −$2.11/SF
EGI
$127.2K $36.29/SF
− OpEx
−$38.1K −$10.89/SF
NOI
$89.0K $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%
$1,780,140
Cap Rate 7%
$1,271,529
Cap Rate 9%
$988,967
Alternative Uses
Best Use
Multifamily LT 5
$1.27M
$1.11M – $1.48M
NOI $89,007 @ 7.0% cap · market cap 8.48%
Second Best
Apartment 5plus
$1.15M
$1.01M – $1.34M
NOI $80,605 @ 7.0% cap · market cap 7.68%
Theoretical Best
Warehouse
$2.43M
$2.12M – $2.83M
NOI $169,962 @ 7.0% cap · market cap 16.20%
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
2,871
Businesses Nearby
Explore this area
Business Placement
Demographics for 10466, NY
70,420
Population
26,303
Households
2.7
Avg Household Size
38
Median Age
26%
College-Educated
81%
High-School Grad
2.0 sq mi
ZIP Area
35,210
Density / Sq Mi
$66,328
Median Household Income
$44,053
Median Earnings
$1,528
Median Rent
$605,300
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 - Three apartments offer matching bedroom and bath layouts, hardwood floors, and dedicated heating and hot-water equipment.
Where is this triplex located?
The property is located at 819 E 223rd St The Bronx, NY.
What is the asking price?
The asking price for this property is $1,049,000.
What are key features of this property?
This property features: Legal 3‑family property with one apartment on each floor; Each unit includes 3 bedrooms and 2 full baths; Separate boiler and hot‑water heater serving each unit
