Quadplex With Unfinished
New
For Sale
$1,359,999
1823 Radcliff Ave The, Bronx, NY 10462
Four-family property with flexible unit layouts, separate utility metering, two entrances, and outdoor space in Morris Park.
Property Size3,888 SF
Days on Market5
Property Features for 1823 Radcliff Ave The
General Information
Standard status
Active
Size
3,888 SF
Property subtype
Investment
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
3 x 2BR, 1 x 1BR
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$17,843
Amenities
yard
Building Details
Building Size
3,888 SF
Year Built
1926
Units
4
Tenancy
Multi
Listing Agency:
Han Tang Realty Inc.
(347) 989-5882
Listed By:
Alex S. Huang
(347) 989-5882
Source:
Elliman
Added: Aug 11
Changed: Aug 12
Last Checked: Aug 15 at 9:03AM
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 Han Tang Realty Inc.
Investment Insights
Based on property information with market context.
Built in 1926, this quadplex contains three two-bedroom apartments and one one-bedroom apartment. Each unit includes a private kitchen and bathroom, with large windows providing natural light. Two separate entrances support privacy between occupants, while five electric meters and four gas meters simplify utility organization. Two apartments are occupied and two are vacant for immediate move-in or repositioning.
The unfinished basement provides additional storage or laundry space, and the property includes a yard for outdoor use. The building is in Morris Park near local stores, schools, public bus stops, and the MTA 5 train. Walk Score is 91, Transit Score is 94, and Bike Score is 82.
The unfinished basement provides additional storage or laundry space, and the property includes a yard for outdoor use. The building is in Morris Park near local stores, schools, public bus stops, and the MTA 5 train. Walk Score is 91, Transit Score is 94, and Bike Score is 82.
Key Highlights
- Three 2‑bedroom units and one 1‑bedroom unit
- Two occupied units and two vacant units
- Five separate electric meters and four gas meters
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
$94,411
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
6.94%
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%
$1,888,220
$1.9M
Cap Rate 7%
$1,348,729
$1.3M
Cap Rate 9%
$1,049,011
$1.0M
Market Conditions
NOI Build-Up for 3,888 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
$142.3K $36.60/SF
− Vacancy
−$7.4K −$1.91/SF
EGI
$134.9K $34.69/SF
− OpEx
−$40.5K −$10.41/SF
NOI
$94.4K $24.28/SF
Area
ZIP 10462
Vacancy
5.22%
Lease Rate
$36.60 /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%
$1,888,220
Cap Rate 7%
$1,348,729
Cap Rate 9%
$1,049,011
Alternative Uses
Best Use
Multifamily LT 5
$1.35M
$1.18M – $1.57M
NOI $94,411 @ 7.0% cap · market cap 6.94%
Second Best
Apartment 5plus
$1.20M
$1.05M – $1.40M
NOI $84,146 @ 7.0% cap · market cap 6.19%
Theoretical Best
Office A
$1.86M
$1.62M – $2.16M
NOI $129,860 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
5,214
Businesses Nearby
Explore this area
Business Placement
Demographics for 10462, NY
84,655
Population
31,828
Households
2.7
Avg Household Size
37
Median Age
28%
College-Educated
83%
High-School Grad
1.5 sq mi
ZIP Area
56,437
Density / Sq Mi
$63,460
Median Household Income
$42,383
Median Earnings
$1,711
Median Rent
$372,100
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-family property with flexible unit layouts, separate utility metering, two entrances, and outdoor space in Morris Park.
Where is this quadplex located?
The property is located at 1823 Radcliff Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $1,359,999.
What are key features of this property?
This property features: Three 2‑bedroom units and one 1‑bedroom unit; Two occupied units and two vacant units; Five separate electric meters and four gas meters
