High Cap Rate New Construction Multifamily Opportunity with 421a Tax Abatement

Market Price

1846-1848 Guerlain Street, Bronx, NY 10460

For Sale

Multifamily Mid High Rise

Active

Last Updated: 06/17/2026

NOI: $640,349

Total Building Size: 11,529 sqft

Total Lot Area: 5,385 sqft

Total Units: 17

Year Built: 2024

Zoning: R6

Floors: 4

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

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