Spacious Brick Triplex in Morris
For Sale
$1,395,000
Pending
856 Van Nest Ave The, Bronx, NY 10462
Three-family detached brick building with parking and backyard.
Property Size3,876 SF
Lot Size0.03 Acres
Days on Market216
Property Features for 856 Van Nest Ave The
General Information
Standard status
Pending
Size
3,876 SF
Lot size
0.03 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$7,311
Building Details
Building Size
3,876 SF
Year Built
2002
Units
3
Listed By:
Vincent J. Alessi SFR SRES
(646) 358-7254
Source:
Elliman
Added: Mar 12
Changed: Oct 8
Last Checked: Oct 12 at 9:50PM
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 Vincent J. Alessi SFR SRES
Investment Insights
Based on property information with market context.
This is a large, detached brick three-family property constructed in 2002. The property includes a full finished basement with a half bathroom, a driveway, and a backyard. Parking is available for 2-3 cars. The layout includes a top-floor apartment that has been fully renovated and is currently vacant, featuring 2 bedrooms, 2 full bathrooms, and 2 balconies. The second-floor apartment has 2 bedrooms, 2 full bathrooms, and 2 balconies. The first-floor apartment has 3 bedrooms and 2 full bathrooms. Each unit is responsible for paying all utilities. The property has 4 separate gas and electric heating boilers. Located in the Morris Park section, it is within walking distance of restaurants, shopping, major highways, and public transportation, including trains and buses. Additional amenities include storage. The property is suitable as an investment property.
Key Highlights
- Large, detached 3‑family brick building built in 2002.
- Each unit has its own separate heating boiler, gas, and electric meters.
- Three apartments with multiple bedrooms and two full bathrooms each.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$94,119
Cap Rate
6.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,882,380
$1.9M
Cap Rate 7%
$1,344,557
$1.3M
Cap Rate 9%
$1,045,767
$1.0M
Market Conditions
NOI Build-Up for 3,876 SF
Gross rent
$141.9K $36.60/SF
− Vacancy
−$7.4K −$1.91/SF
EGI
$134.5K $34.69/SF
− OpEx
−$40.3K −$10.41/SF
NOI
$94.1K $24.28/SF
Area
ZIP 10462
Vacancy
5.22%
Lease Rate
$36.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,882,380
Cap Rate 7%
$1,344,557
Cap Rate 9%
$1,045,767
Alternative Uses
Best Use
Multifamily LT 5
$1.34M
$1.18M – $1.57M
NOI $94,119 @ 7.0% cap · market cap 6.75%
Second Best
Apartment 5plus
$1.20M
$1.05M – $1.40M
NOI $83,886 @ 7.0% cap · market cap 6.01%
Theoretical Best
Office A
$1.85M
$1.62M – $2.16M
NOI $129,459 @ 7.0% cap · market cap 9.28%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
3,537
Businesses Nearby
Explore this area
Business Placement
Demographics for 10462, NY
84,655
Population
31,828
Households
2.7
Avg Household Size
37
Median Age
28%
College-Educated
83%
High-School Grad
1.5 sq mi
ZIP Area
56,437
Density / Sq Mi
$63,460
Median Household Income
$42,383
Median Earnings
$1,711
Median Rent
$372,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-family detached brick building with parking and backyard.
Where is this triplex located?
The property is located at 856 Van Nest Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: Large, detached 3‑family brick building built in 2002.; Each unit has its own separate heating boiler, gas, and electric meters.; Three apartments with multiple bedrooms and two full bathrooms each.
