Four-Unit Multifamily
For Sale
$949,000
1267 TELLER Avenue, Bronx, NY 10456
Four-unit residential property with renovated living space, basement studios, private outdoor areas, and transit access.
Property Size2,970 SF
Price / SF$319.53
Days on Market157
Property Features for 1267 TELLER Avenue
General Information
Standard status
Active
Size
2,970 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,940
Amenities
private backyard
shared laundry room
private deck
Building Details
Building Size
2,970 SF
Year Built
1899
Listing Agency:
Corcoran Group
(347) 720-9178
Listed By:
Caitlyn Arianna Santander · License #10401353493 (NY)
(347) 720-9178
Source:
Howardhannanyc
Added: Mar 11
Changed: Aug 13
Last Checked: Aug 13 at 11:12AM
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 Corcoran Group
Investment Insights
Based on property information with market context.
This four-unit multifamily property contains 2,970 square feet and was built in 1899. The building provides 9 bedrooms and 4 bathrooms across a renovated first-floor apartment, a second-floor apartment with a private deck, and two basement studios. Each studio includes a full bathroom and kitchenette, while the basement also provides shared laundry facilities. A backyard adds outdoor space, and the first-floor residence includes an eat-in kitchen with custom cabinetry and substantial counter area.
Located at 1267 Teller Avenue in the Bronx, the property is near Bx32, Bx35, Bx41, and Bx41-SBS bus service, as well as the B and D trains. Shops, schools, and parks are also nearby. The property is vacant and available for showings by appointment.
Located at 1267 Teller Avenue in the Bronx, the property is near Bx32, Bx35, Bx41, and Bx41-SBS bus service, as well as the B and D trains. Shops, schools, and parks are also nearby. The property is vacant and available for showings by appointment.
Key Highlights
- Four‑unit multifamily property with 2,970 square feet
- 9 bedrooms and 4 bathrooms across multiple units
- Two basement studios, each with a full bathroom and kitchenette
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
$77,039
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
8.12%
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%
$1,540,780
$1.5M
Cap Rate 7%
$1,100,557
$1.1M
Cap Rate 9%
$855,989
$856.0K
Market Conditions
NOI Build-Up for 2,970 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
$114.0K $38.40/SF
− Vacancy
−$4.0K −$1.34/SF
EGI
$110.1K $37.06/SF
− OpEx
−$33.0K −$11.12/SF
NOI
$77.0K $25.94/SF
Area
ZIP 10456
Vacancy
3.50%
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%
$1,540,780
Cap Rate 7%
$1,100,557
Cap Rate 9%
$855,989
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$963.0K – $1.28M
NOI $77,039 @ 7.0% cap · market cap 8.12%
Second Best
Apartment 5plus
$992.4K
$868.3K – $1.16M
NOI $69,465 @ 7.0% cap · market cap 7.32%
Theoretical Best
Office A
$1.50M
$1.32M – $1.75M
NOI $105,209 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,857
Businesses Nearby
Explore this area
Business Placement
Demographics for 10456, NY
93,412
Population
33,321
Households
2.8
Avg Household Size
34
Median Age
14%
College-Educated
68%
High-School Grad
1.1 sq mi
ZIP Area
84,920
Density / Sq Mi
$35,676
Median Household Income
$30,340
Median Earnings
$1,194
Median Rent
$428,800
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 - Four-unit residential property with renovated living space, basement studios, private outdoor areas, and transit access.
Where is this quadplex located?
The property is located at 1267 TELLER Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Four‑unit multifamily property with 2,970 square feet; 9 bedrooms and 4 bathrooms across multiple units; Two basement studios, each with a full bathroom and kitchenette
