Three-Family
For Sale
$1,150,000
940 E 181st Street, Bronx, NY 10460
MULTI_FAMILY - Bronx, NY
Property Size3,087 SF
Lot Size0.08 Acres
Price / SF$372.53
Days on Market83
Property Features for 940 E 181st Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 2, Bedroom 8, Bathroom 4, Bedroom 5, Bathroom 1, Bedroom 3, Bedroom 6, Bedroom 1, Bathroom 3, Bedroom 7, Bedroom 4
Subdivision
West Farms
Standard status
Active
Lot size
0.08 Acres
Building Details
Floors in Building
4
Building materials
Brick
Listing Agency:
Landair Property Advisors, LLC
(646) 559-4700
Listed By:
Maha Alaoui
(646) 559-4700
Added: Jun 1
Changed: Aug 4
Last Checked: Aug 22 at 1:06PM
MLS# 11798820
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
940 E 181st Street is a 3,087 sq. ft. three-family (triplex) building on an irregular 40.27' x 103' lot (3,338 sq. ft.) in West Farms, the Bronx. The layout includes a ground-floor studio, a three-bedroom/one-bath on the first floor, and a five-bedroom/two-bath duplex. The property will be delivered fully vacant at closing. Brick construction.
The site is zoned R7-1. As-of-right development permits up to 11,482 buildable sq. ft., and up to 16,723 buildable sq. ft. with UAP, supporting options to redevelop ground-up or alter the existing building.
Convenient transit access includes the West Farms Square-East Tremont Ave station (2/5 trains), approximately 0.4 miles away. Bus service includes Bx9, Bx21, and Bx36. Bronx Park anchors the neighborhood to the north, with the East Tremont Avenue retail corridor, Fordham University, local schools, and Bronx healthcare facilities nearby.
The site is zoned R7-1. As-of-right development permits up to 11,482 buildable sq. ft., and up to 16,723 buildable sq. ft. with UAP, supporting options to redevelop ground-up or alter the existing building.
Convenient transit access includes the West Farms Square-East Tremont Ave station (2/5 trains), approximately 0.4 miles away. Bus service includes Bx9, Bx21, and Bx36. Bronx Park anchors the neighborhood to the north, with the East Tremont Avenue retail corridor, Fordham University, local schools, and Bronx healthcare facilities nearby.
Key Highlights
- 3,087 sq. ft. three‑family building on a 40.27' x 103' irregular lot (3,338 sq. ft.)
- Ground‑floor studio plus three‑bedroom/one‑bath and five‑bedroom/two‑bath duplex
- Delivered fully vacant at closing
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
$78,415
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
6.82%
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%
$1,568,300
$1.6M
Cap Rate 7%
$1,120,214
$1.1M
Cap Rate 9%
$871,278
$871.3K
Market Conditions
NOI Build-Up for 3,087 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
$118.5K $38.40/SF
− Vacancy
−$6.5K −$2.11/SF
EGI
$112.0K $36.29/SF
− OpEx
−$33.6K −$10.89/SF
NOI
$78.4K $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%
$1,568,300
Cap Rate 7%
$1,120,214
Cap Rate 9%
$871,278
Alternative Uses
Best Use
Multifamily LT 5
$1.12M
$980.2K – $1.31M
NOI $78,415 @ 7.0% cap · market cap 6.82%
Second Best
Apartment 5plus
$1.01M
$887.7K – $1.18M
NOI $71,012 @ 7.0% cap · market cap 6.17%
Theoretical Best
Warehouse
$2.14M
$1.87M – $2.50M
NOI $149,735 @ 7.0% cap · market cap 13.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,525
Businesses Nearby
Explore this area
Business Placement
Demographics for 10460, NY
62,625
Population
24,085
Households
2.6
Avg Household Size
34
Median Age
15%
College-Educated
71%
High-School Grad
1.5 sq mi
ZIP Area
41,750
Density / Sq Mi
$36,067
Median Household Income
$31,283
Median Earnings
$1,332
Median Rent
$589,300
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-family building on an irregular lot, zoned R7-1, delivered fully vacant at closing.
Where is this triplex located?
The property is located at 940 E 181st Street Bronx, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 3,087 sq. ft. three‑family building on a 40.27' x 103' irregular lot (3,338 sq. ft.); Ground‑floor studio plus three‑bedroom/one‑bath and five‑bedroom/two‑bath duplex; Delivered fully vacant at closing
