Tenant-Occupied Quadplex with
For Sale
$1,150,000
1988 Marmion Avenue, Bronx, NY 10460
Four-unit residential property offered with tenants in place and an attached two-car garage.
Property Size4,122 SF
Days on Market110
Property Features for 1988 Marmion Avenue
General Information
Standard status
Active
Size
4,122 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$42,759
Building Details
Building Size
4,122 SF
Year Built
2003
Listing Agency:
Winzone Realty Inc
Listed By:
Luis A. Lema · License #40LE0884857
368
Source:
Serhant
Added: Jul 1
Changed: Oct 7
Last Checked: Oct 16 at 5:36PM
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 Winzone Realty Inc
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Investment Insights
Based on property information with market context.
Built in 2003, this quadplex contains four dwelling units and includes a two-car garage. The property is being offered with tenants in place and will transfer in its existing condition.
Located at 1988 Marmion Avenue in the Bronx, New York, the asset provides a multifamily configuration with an on-site garage component. The four-unit layout and existing tenancy are the central operating characteristics of the property.
Located at 1988 Marmion Avenue in the Bronx, New York, the asset provides a multifamily configuration with an on-site garage component. The four-unit layout and existing tenancy are the central operating characteristics of the property.
Key Highlights
- Four dwelling units in a quadplex configuration
- Built in 2003
- Two‑car garage included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$104,705
Cap Rate
9.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,094,100
$2.1M
Cap Rate 7%
$1,495,786
$1.5M
Cap Rate 9%
$1,163,389
$1.2M
Market Conditions
NOI Build-Up for 4,122 SF
Gross rent
$158.3K $38.40/SF
− Vacancy
−$8.7K −$2.11/SF
EGI
$149.6K $36.29/SF
− OpEx
−$44.9K −$10.89/SF
NOI
$104.7K $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 Rate 5%
$2,094,100
Cap Rate 7%
$1,495,786
Cap Rate 9%
$1,163,389
Alternative Uses
Best Use
Multifamily LT 5
$1.50M
$1.31M – $1.75M
NOI $104,705 @ 7.0% cap · market cap 9.10%
Second Best
Apartment 5plus
$1.35M
$1.19M – $1.58M
NOI $94,821 @ 7.0% cap · market cap 8.25%
Theoretical Best
Warehouse
$2.86M
$2.50M – $3.33M
NOI $199,938 @ 7.0% cap · market cap 17.39%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,351
Businesses Nearby
Explore this area
Business Placement
Demographics for 10460, NY
62,625
Population
24,085
Households
2.6
Avg Household Size
34
Median Age
15%
College-Educated
71%
High-School Grad
1.5 sq mi
ZIP Area
41,750
Density / Sq Mi
$36,067
Median Household Income
$31,283
Median Earnings
$1,332
Median Rent
$589,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit residential property offered with tenants in place and an attached two-car garage.
Where is this quadplex located?
The property is located at 1988 Marmion Avenue Bronx, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Four dwelling units in a quadplex configuration; Built in 2003; Two‑car garage included
