City Island Multi-Unit
32 Tier Street Bronx, NY 10464
For Sale
$795,000
Pending
MULTI_FAMILY - Bronx, NY
Property Size1,500 SF
Lot Size0.06 Acres
Days on Market374
Property Features for 32 Tier Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Triplex
- Bedrooms
- 3
- Bathrooms
- 3
- Rooms
- Bedroom 1, Bathroom 1, Bedroom 2, Bedroom 3, Bathroom 2, Bathroom 3
- Patio and Porch features
- Porch, Patio
- Interior features
- First Floor Bedroom, First Floor Full Bath, Open Floorplan
- Standard status
- Pending
- APN
- 05632-0015
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 5453
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air
- Cooling system
- Varies by Unit
- Water source
- Public
Building Details
- Year built
- 1940
- Number of units
- 3
- Building materials
- Vinyl Siding
Listing Agency:
R New York
(212) 688-1000
Listed By:
Sandra Salander · License #10401234338
(212) 810-9231
Added: Jul 19, 2025
Changed: Jul 17
Last Checked: Jul 27 at 6:06AM
MLS# 891338
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This property features three units in a prime City Island location on Tier Street, offering water views and proximity to a private beach exclusive to Tier Street residents. The property includes two renovated side-by-side units—a studio and a one-bedroom—ready for immediate use or rental. The separate cottage in the rear requires renovation, offering an opportunity for customization. The total livable space is approximately 1500 square feet, divided into three separate units, situated on a 3200 square foot lot. The property is registered as 32-34 Tier Street, as well as 32A, 32B and 32 REAR Tier Street. The property is located close to City Island's conveniences, offering an escape from City Island Avenue traffic. City Island provides a coastal village atmosphere within New York City, with yacht clubs, art galleries, boutique shops, and dining options. Pelham Bay Park, the largest park in New York City, is nearby, featuring golf courses, horse stables, and trails. Orchard Beach is also undergoing renovations. Plans to add a ferry stop for City Island are in progress. The property has low taxes and does not require flood insurance due to its higher elevation. The property can be delivered vacant, or with one tenant. The recorded square footage does not include the rear Cottage.
Key Highlights
- Three‑unit property (bungalows) on Tier Street with water views and access to a private beach exclusive to Tier Street residents
- Approximately 1,500 sq ft total livable space across three separate units: studio, 1‑bedroom, and a rear cottage
- Side‑by‑side units (studio and 1‑bedroom) have been renovated; rear cottage needs some TLC
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $57.6k | $38.40 |
| − Vacancy | −$3.2k | −$2.11 |
| EGI | $54.4k | $36.29 |
| − OpEx | −$16.3k | −$10.89 |
| NOI | $38.1k | $25.40 |
1,500 SF · lease $38.40/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$544.3K
$476.3K – $635.0K
NOI $38,102 @ 7.0% cap · market cap 4.79%
Second Best
Apartment 5plus
$492.9K
$431.3K – $575.1K
NOI $34,505 @ 7.0% cap · market cap 4.34%
Theoretical Best
Warehouse
$1.04M
$909.5K – $1.21M
NOI $72,758 @ 7.0% cap · market cap 9.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Three units near the water with private beach access.
Where is this triplex located?
The property is located at 32 Tier Street Bronx, NY.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Three‑unit property (bungalows) on Tier Street with water views and access to a private beach exclusive to Tier Street residents; Approximately 1,500 sq ft total livable space across three separate units: studio, 1‑bedroom, and a rear cottage; Side‑by‑side units (studio and 1‑bedroom) have been renovated; rear cottage needs some TLC
