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1846-1848 Guerlain Street 2 Multifamily Properties in Bronx, NY
Investment Highlights
- Full 35-year 421a tax abatement provides significant long-term savings.
- Steps from East 180th Street and Parkchester subway stations for fast Manhattan access.
- Fully occupied with stabilized rents and a strong government-supported tenant base.
- Smart unit mix of studios, one-bedroom, and two-bedroom layouts designed for demand.
Executive Summary
2024 New Construction:
Two (2) adjacent multifamily assets spanning 11,529 gross square feet in the Parkchester section of the Bronx
Valuable Tax Protection:
Benefits from a full 35-year 421a tax exemption, providing long-term savings
Strategic Unit Breakdown:
17-unit portfolio featuring an efficient layout of three (3) studios, nine (9) one-bedroom, and five (5) two-bedroom apartments. Legally structured as sixteen (16) Rent Stabilized units and one (1) Free Market unit.
Fully Occupied Cash Flow:
Offers immediate, turnkey revenue driven by the Augmented CityFHEPS program at 130% AMI, securing a government-supported rental income stream day one
Premium Return Profile:
High-yield investment opportunity featuring an in place cap rate above comparable new construction assets, translating to an attractive double digit cash on cash return
Transit Oriented Location:
Positioned within walking distance to both the East 180th Street station (2,5) and the Parkchester Station (6) offering dual-line subway access, and connectivity to the Bx39 bus line on White Plains Road
Two (2) adjacent multifamily assets spanning 11,529 gross square feet in the Parkchester section of the Bronx
Valuable Tax Protection:
Benefits from a full 35-year 421a tax exemption, providing long-term savings
Strategic Unit Breakdown:
17-unit portfolio featuring an efficient layout of three (3) studios, nine (9) one-bedroom, and five (5) two-bedroom apartments. Legally structured as sixteen (16) Rent Stabilized units and one (1) Free Market unit.
Fully Occupied Cash Flow:
Offers immediate, turnkey revenue driven by the Augmented CityFHEPS program at 130% AMI, securing a government-supported rental income stream day one
Premium Return Profile:
High-yield investment opportunity featuring an in place cap rate above comparable new construction assets, translating to an attractive double digit cash on cash return
Transit Oriented Location:
Positioned within walking distance to both the East 180th Street station (2,5) and the Parkchester Station (6) offering dual-line subway access, and connectivity to the Bx39 bus line on White Plains Road
Property Facts
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 11,529 SF |
| Number of Properties | 2 | Total Land Area | 0.19 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 11,529 SF |
| Total Land Area | 0.19 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 1848 Guerlain St, Bronx, NY 10460 | Multifamily | 6,199 SF | 2022 | - |
| 1846 Guerlain St, Bronx, NY 10460 | Multifamily | 5,330 SF | 2024 | - |
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Contacts
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Daniel Mahfar -
Jason M. Gold -
Erik Moloney -
Victor Sozio -
Ariel Property Advisors
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1846-1848 Guerlain Street
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