City Island Triplex Investment
32 Tier St The Bronx, NY 10464
32 Tier St The, Bronx, NY, 10464
$795,000
Pending
For Sale
$795,000
Pending
Three units near the water with private beach access.
Property Size1,500 SF
Lot Size0.06 Acres
Days on Market135
Property Features for 32 Tier St The
General Information
- Standard status
- Pending
- Size
- 1,500 SF
- Lot size
- 0.06 Acres
- Property subtype
- Investment
Building Details
- Year Built
- 1940
Listing agency
R NEW YORK
(347) 281-3307
Listed by
Silvio Guerrero · License #10401234338
(347) 281-3307
Source
Elliman
Added: Mar 11 Updated: Jul 6 at 10:52AM Checked: Jul 23 at 5:55AM
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 R NEW YORK
Investment Insights
Based on property information with market context.
Located in City Island, this property features three units, offering a high-yield investment opportunity. Situated on Tier Street, the property is steps from the water and a private beach exclusive to Tier Street residents. The property includes a studio, a one-bedroom unit, and a separate cottage in the rear. The two side-by-side units have been renovated and are turnkey ready. The cottage needs some TLC, offering an opportunity for customization. The total livable space is approximately 1500 square feet, divided into three separate units. The lot size is 3200 square feet (32x100). The property is registered as 32-34 Tier Street, as well as 32A, 32B and 32 REAR Tier Street. The property is located in close proximity to all of City Island's conveniences. The property sits at a higher elevation point. City Island offers yacht clubs, private beaches, art galleries, boutique shops, and dining options. Pelham Bay Park, the largest park in New York City, is nearby, offering golf courses, horse stables, and trails. Orchard Beach is undergoing renovation of its Art Deco commercial boardwalk. Plans to add a ferry stop for City Island are in the works.
Key Highlights
- Three separate units on one property, offering flexibility.
- Prime City Island location steps from the water with private beach access.
- Convenient access to Manhattan (22 minutes) while offering a unique coastal living experience.
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 | $57.6k | $38.40 |
| − Vacancy | −$3.2k | −$2.11 |
| EGI | $54.4k | $36.29 |
| − OpEx | −$16.3k | −$10.89 |
| NOI | $38.1k | $25.40 |
1,500 SF · lease $38.40/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$544.3K
$476.3K – $635.0K
NOI $38,102 @ 7.0% cap · market cap 4.79%
Second Best
Apartment 5plus
$492.9K
$431.3K – $575.1K
NOI $34,505 @ 7.0% cap · market cap 4.34%
Theoretical Best
Warehouse
$1.04M
$909.5K – $1.21M
NOI $72,758 @ 7.0% cap · market cap 9.15%
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 - Three units near the water with private beach access.
Where is this triplex located?
The property is located at 32 Tier St The Bronx, NY.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Three separate units on one property, offering flexibility.; Prime City Island location **steps from the water with private beach access**.; Convenient access to Manhattan (22 minutes) while offering a unique coastal living experience.
