Occupied Quadplex with
For Sale
$1,179,999
1661 E 172nd Street, Bronx, NY 10472
Mixed-use Bronx property with occupied residences, dedicated office space, and a large basement near transit, parks, schools, and shopping.
Property Size4,800 SF
Days on Market46
Property Features for 1661 E 172nd Street
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Quadruplex
Occupancy
100%
Taxes and HOA fees
Annual Taxes
$29,457
Building Details
Building Size
4,800 SF
Year Built
1926
Listing Agency:
eXp Realty
Listed By:
Manuel Galan
(888) 276-0630
Source:
Serhant
Added: Jul 22
Changed: Sep 4
Last Checked: Sep 4 at 10:48AM
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 eXp Realty
Investment Insights
Based on property information with market context.
Located at 1661 E 172nd Street in the Bronx, this 1926 quadplex includes multiple residential units, a dedicated office space, and a substantial basement. The residences include three-bedroom and four-bedroom layouts, each with full-bath accommodations, along with additional three-bedroom living space. All residential units are occupied by long-term tenants.
The property is positioned near the 6 train and bus service on the Bx11 and Bx4 routes. Parks, schools, and everyday shopping are also nearby, providing access to established neighborhood amenities. The basement offers additional space for storage, recreation, or future improvements, subject to applicable requirements.
The property is positioned near the 6 train and bus service on the Bx11 and Bx4 routes. Parks, schools, and everyday shopping are also nearby, providing access to established neighborhood amenities. The basement offers additional space for storage, recreation, or future improvements, subject to applicable requirements.
Key Highlights
- 1926 construction with multiple residential units and dedicated office space
- Residential units are occupied by long‑term tenants
- Large basement provides storage, recreation, or improvement possibilities
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
$101,042
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
8.56%
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%
$2,020,840
$2.0M
Cap Rate 7%
$1,443,457
$1.4M
Cap Rate 9%
$1,122,689
$1.1M
Market Conditions
NOI Build-Up for 4,800 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
$161.3K $33.60/SF
− Vacancy
−$16.9K −$3.53/SF
EGI
$144.3K $30.07/SF
− OpEx
−$43.3K −$9.02/SF
NOI
$101.0K $21.05/SF
Area
Bronx, NY
Vacancy
10.50%
Lease Rate
$33.60 /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%
$2,020,840
Cap Rate 7%
$1,443,457
Cap Rate 9%
$1,122,689
Alternative Uses
Best Use
Multifamily LT 5
$1.74M
$1.52M – $2.03M
NOI $121,928 @ 7.0% cap · market cap 10.33%
Second Best
Apartment 5plus
$1.58M
$1.38M – $1.84M
NOI $110,417 @ 7.0% cap · market cap 9.36%
Theoretical Best
Warehouse
$3.33M
$2.91M – $3.88M
NOI $232,824 @ 7.0% cap · market cap 19.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,040
Businesses Nearby
Explore this area
Business Placement
Demographics for 10472, NY
72,245
Population
24,259
Households
3
Avg Household Size
34
Median Age
14%
College-Educated
69%
High-School Grad
1.1 sq mi
ZIP Area
65,677
Density / Sq Mi
$43,125
Median Household Income
$35,180
Median Earnings
$1,445
Median Rent
$632,500
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 - Mixed-use Bronx property with occupied residences, dedicated office space, and a large basement near transit, parks, schools, and shopping.
Where is this quadplex located?
The property is located at 1661 E 172nd Street Bronx, NY.
What is the asking price?
The asking price for this property is $1,179,999.
What are key features of this property?
This property features: 1926 construction with multiple residential units and dedicated office space; Residential units are occupied by long‑term tenants; Large basement provides storage, recreation, or improvement possibilities
