Renovated Four-Unit
New
For Sale
$1,374,999
1501 Teller Ave The, Bronx, NY 10457
Brick residential income property with updated interiors, two vacant apartments, a garage, and a separate-entry basement.
Property Size3,292 SF
Days on Market2
Property Features for 1501 Teller Ave The
General Information
Standard status
Active
Size
3,292 SF
Total Parking Spaces
1
Property subtype
Investment
Zoning
R7-1
Occupancy
50%
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
4 x 2BR
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$8,573
Building Details
Building Size
3,292 SF
Year Built
1920
Buildings
1
Units
4
Construction
brick
Listing Agency:
Locqube New York, Inc.
Listed By:
Jeffrie Pena · License #10401261474
(917) 242-9882
Source:
Elliman
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 3 at 2:22AM
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 renovated brick quadplex at 1501 Teller Ave is arranged as four two-bedroom townhome units. Interiors feature quartz countertops, stainless steel appliances, white shaker cabinetry, and oak flooring. Two apartments are occupied, while the remaining two are vacant at closing. The property also includes an attached one-car garage that can be leased separately and a full unfinished walk-out basement with high ceilings and a separate grade-level entrance.
The building sits on a corner lot in the Claremont section of the Bronx. R7-1 zoning leaves approximately 2,898 square feet of unused FAR. BronxCare Hospital, shopping, dining, and schools are located minutes away, while the B, D, and 4 trains provide transit access to Manhattan. The property was built in 1920 and has a walk score of 87, transit score of 100, and bike score of 79.
The building sits on a corner lot in the Claremont section of the Bronx. R7-1 zoning leaves approximately 2,898 square feet of unused FAR. BronxCare Hospital, shopping, dining, and schools are located minutes away, while the B, D, and 4 trains provide transit access to Manhattan. The property was built in 1920 and has a walk score of 87, transit score of 100, and bike score of 79.
Key Highlights
- Four two‑bedroom units in a renovated brick townhome
- Two units occupied and two vacant at closing
- Attached one‑car garage with separate rental potential
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
6.08%
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 6.08%
Second Best
Apartment 5plus
$1.08M
$946.6K – $1.26M
NOI $75,728 @ 7.0% cap · market cap 5.51%
Theoretical Best
Warehouse
$2.28M
$2.00M – $2.66M
NOI $159,679 @ 7.0% cap · market cap 11.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
50%
Occupancy
Yes
Paved road access
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 - Brick residential income property with updated interiors, two vacant apartments, a garage, and a separate-entry basement.
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 $1,374,999.
What are key features of this property?
This property features: Four two‑bedroom units in a renovated brick townhome; Two units occupied and two vacant at closing; Attached one‑car garage with separate rental potential
