Renovated Bronx Multifamily
For Sale
$1,449,000
1501 Teller Ave The, Bronx, NY 10457
Income-producing 4-family townhome in the Claremont section of the Bronx.
Property Size3,292 SF
Days on Market112
Property Features for 1501 Teller Ave The
General Information
Standard status
Active
Size
3,292 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$7,938
Building Details
Building Size
3,292 SF
Year Built
1920
Units
4
Listing Agency:
Locqube New York, Inc.
(917) 242-9882
Listed By:
Jeffrie Pena · License #10401261474
(917) 242-9882
Source:
Elliman
Added: Apr 24
Changed: Aug 8
Last Checked: Aug 12 at 7:08AM
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 Locqube New York, Inc.
Investment Insights
Based on property information with market context.
This fully renovated, income-producing 4-family townhome is located on a corner lot in the Claremont section of the Bronx. The property features four spacious two-bedroom units, each updated with quartz countertops, stainless steel appliances, white shaker cabinetry, and oak flooring. The building is fully occupied and generates approximately $93,000 in net operating income. Additional features include a brick façade, an attached one-car garage, and a full unfinished basement with high ceilings and a separate entrance, presenting an opportunity for future expansion. The property benefits from R7-1 zoning with approximately 2,898 square feet of unused FAR, offering long-term development upside. Conveniently located near BronxCare Hospital, shopping, dining, schools, and major transit lines (B, D, and 4 trains), providing an easy commute to Manhattan. The location has a bike score of 79, walk score of 97, and transit score of 100.
Key Highlights
- Income‑producing 4‑family townhome generating approximately $93,000 net operating income (6.2% cap rate).
- Fully renovated units** with quartz countertops, stainless steel appliances, white shaker cabinetry, and oak flooring.
- Prime corner lot location in the Claremont section of the Bronx, near BronxCare Hospital, shopping, dining, and schools.
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
$83,622
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
5.77%
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%
$1,672,440
$1.7M
Cap Rate 7%
$1,194,600
$1.2M
Cap Rate 9%
$929,133
$929.1K
Market Conditions
NOI Build-Up for 3,292 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
$126.4K $38.40/SF
− Vacancy
−$7.0K −$2.11/SF
EGI
$119.5K $36.29/SF
− OpEx
−$35.8K −$10.89/SF
NOI
$83.6K $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%
$1,672,440
Cap Rate 7%
$1,194,600
Cap Rate 9%
$929,133
Alternative Uses
Best Use
Multifamily LT 5
$1.19M
$1.05M – $1.39M
NOI $83,622 @ 7.0% cap · market cap 5.77%
Second Best
Apartment 5plus
$1.08M
$946.6K – $1.26M
NOI $75,728 @ 7.0% cap · market cap 5.23%
Theoretical Best
Warehouse
$2.28M
$2.00M – $2.66M
NOI $159,679 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,258
Businesses Nearby
Explore this area
Business Placement
Demographics for 10457, NY
77,488
Population
27,795
Households
2.8
Avg Household Size
33
Median Age
15%
College-Educated
70%
High-School Grad
1.3 sq mi
ZIP Area
59,606
Density / Sq Mi
$44,911
Median Household Income
$30,564
Median Earnings
$1,400
Median Rent
$336,900
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?
Quadplex - Income-producing 4-family townhome in the Claremont section of the Bronx.
Where is this quadplex located?
The property is located at 1501 Teller Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $1,449,000.
What are key features of this property?
This property features: Income‑producing 4‑family townhome generating approximately $93,000 net operating income (6.2% cap rate).; Fully renovated units** with quartz countertops, stainless steel appliances, white shaker cabinetry, and oak flooring.; Prime corner lot location in the Claremont section of the Bronx, near BronxCare Hospital, shopping, dining, and schools.
