Legal Four-Family Home
1180 Grant Ave The Bronx, NY 10456
1180 Grant Ave The, Bronx, NY, 10456
$1,799,999
For Sale
$1,799,999
Spacious units, modern amenities, and prime development potential.
Property Size4,968 SF
Price / SF$362.32
Days on Market88
Property Features for 1180 Grant Ave The
General Information
- Standard status
- Active
- Size
- 4,968 SF
- Property subtype
- Investment
Building Details
- Year Built
- 1935
Listing Agency
Pantiga Group Inc.
(917) 242-9882
Listed by
Jeffrie Pena · License #10401261474
(917) 242-9882
Source
Elliman
Added: Apr 24 Checked: Jul 19 at 6:15 am
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 Pantiga Group Inc.
Investment Insights
Based on property information with market context.
This legal four-family home presents an opportunity for investors and developers. Each of the four units includes two bedrooms and one bathroom, featuring hardwood floors and living spaces. The windowed kitchens are equipped with stainless steel appliances and dishwashers. The property spans 4,968 square feet and is zoned R7-1. Recent upgrades include a new boiler and hot water tank, updated plumbing and electrical systems, and a sprinkler system. Split AC units provide heating and cooling, allowing the option to turn off the landlord’s central heating and have tenants cover their heating costs. The renovated basement, currently used as an office, features a separate entrance leading to a shared laundry room and storage area. The backyard is currently utilized for parking. Tenants are responsible for electric and gas utilities. The property is located near Morris Avenue, surrounded by restaurants, cafes, local shops, parks, and transportation options. The property is located in a Walker's Paradise with a walk score of 95 and has excellent transit with a transit score of 100. The property is bikeable with a bike score of 68.
Key Highlights
- Legal 4‑family home in a highly desirable location with a transit score of 100, offering strong rental income potential.
- Rare 4,968 sq ft property zoned R7‑1, presenting a prime development opportunity.
- Each unit features 2 bedrooms, 1 bathroom, hardwood floors, bright living spaces, stainless steel appliances, and dishwashers.
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 | $190.8k | $38.40 |
| − Vacancy | −$6.7k | −$1.34 |
| EGI | $184.1k | $37.06 |
| − OpEx | −$55.2k | −$11.12 |
| NOI | $128.9k | $25.94 |
4,968 SF · lease $38.40/SF/yr · vacancy 3.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.84M
$1.61M – $2.15M
NOI $128,866 @ 7.0% cap · market cap 7.16%
Second Best
Apartment 5plus
$1.66M
$1.45M – $1.94M
NOI $116,195 @ 7.0% cap · market cap 6.46%
Theoretical Best
Office A
$2.51M
$2.20M – $2.93M
NOI $175,986 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Spacious units, modern amenities, and prime development potential.
Where is this quadplex located?
The property is located at 1180 Grant Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $1,799,999.
What are key features of this property?
This property features: Legal 4‑family home in a highly desirable location with a transit score of 100, offering strong rental income potential.; Rare 4,968 sq ft property zoned R7‑1, presenting a prime development opportunity.; Each unit features 2 bedrooms, 1 bathroom, hardwood floors, bright living spaces, stainless steel appliances, and dishwashers.
