Three-Family Redevelopment
940 East 181st Street Bronx, NY 10460
940 East 181st Street, Bronx, NY, 10460
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For Sale
Contact for pricing
Fully vacant three-family building on a lot zoned for additional development potential.
Property Size3,087 SF
Price / SF$404.92
Days on Market46
Property Features for 940 East 181st Street
General Information
- Standard status
- Active
- Size
- 3,087 SF
- Property subtype
- Multifamily, Land
Building Details
- Year Built
- 1997
Listing Agency
Landair Advisors
Listed by
Maha Alaoui · License #10401392848
Source
Crexi
Added: Jun 2 Checked: Jul 14 at 10:04 pm
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 Landair Advisors
Investment Insights
Based on property information with market context.
This offering features a 3,087 sq. ft. three-family building situated on an irregular 40' x 103' lot. The layout includes a ground-floor studio, a three-bedroom/one-bath unit on the first floor, and a four-bedroom/two-bath duplex. The property is being delivered fully vacant at closing, providing flexibility for either an owner-occupant plan or a redevelopment approach.
The site is zoned R7-1 and, according to the provided information, permits up to 11,579 buildable sq. ft. as-of-right or 16,863 buildable sq. ft. with UAP. The property is located about 0.4 miles from the West Farms Square–East Tremont Ave station serving the 2 and 5 trains, and it is also served by Bx9, Bx21, and Bx36 bus routes.
For tenants, buyers, and investors, this property can fit multiple paths: continued residential use with the existing three-family structure, or a ground-up redevelopment or building alterations consistent with the stated zoning parameters. Its transit-accessible West Farms location and the option to pursue additional buildable space make it a practical candidate for owners evaluating residential income versus redevelopment strategies.
The site is zoned R7-1 and, according to the provided information, permits up to 11,579 buildable sq. ft. as-of-right or 16,863 buildable sq. ft. with UAP. The property is located about 0.4 miles from the West Farms Square–East Tremont Ave station serving the 2 and 5 trains, and it is also served by Bx9, Bx21, and Bx36 bus routes.
For tenants, buyers, and investors, this property can fit multiple paths: continued residential use with the existing three-family structure, or a ground-up redevelopment or building alterations consistent with the stated zoning parameters. Its transit-accessible West Farms location and the option to pursue additional buildable space make it a practical candidate for owners evaluating residential income versus redevelopment strategies.
Key Highlights
- 3,087 SF three‑family building on an irregular 40' x 103' (3,366 SF) lot at 940 East 181st Street
- Building layout includes a ground‑floor studio, a 3BR/1BA on the first floor, and a 4BR/2BA duplex
- Delivered fully vacant at closing
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $118.5k | $38.40 |
| − Vacancy | −$6.5k | −$2.11 |
| EGI | $112.0k | $36.29 |
| − OpEx | −$33.6k | −$10.89 |
| NOI | $78.4k | $25.40 |
3,087 SF · lease $38.40/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.12M
$980.2K – $1.31M
NOI $78,415 @ 7.0% cap · market cap 6.27%
Second Best
Apartment 5plus
$1.01M
$887.7K – $1.18M
NOI $71,012 @ 7.0% cap · market cap 5.68%
Theoretical Best
Warehouse
$2.14M
$1.87M – $2.50M
NOI $149,735 @ 7.0% cap · market cap 11.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Fully vacant three-family building on a lot zoned for additional development potential.
Where is this triplex located?
The property is located at 940 East 181st Street Bronx, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 3,087 SF three‑family building on an irregular 40' x 103' (3,366 SF) lot at 940 East 181st Street; Building layout includes a ground‑floor studio, a 3BR/1BA on the first floor, and a 4BR/2BA duplex; Delivered fully vacant at closing
