Multi-Family Apartment
For Sale
Contact for pricing
1846-1848 Guerlain Street, Bronx, NY 10460
For-sale residential income property offering apartment building exposure in the Bronx, New York.
Property Size11,529 SF
Price / SF$650.53
Days on Market59
Property Features for 1846-1848 Guerlain Street
General Information
Standard status
Active
Size
11,529 SF
Property subtype
Multifamily
Zoning
R6
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$640,349
Building Details
Year Built
2024
Buildings
2
Stories
4
Units
17
Tenancy
Multi
Listing Agency:
Ariel Property Advisors
(212) 544-9500
Listed By:
Jason Gold · License #NY 10301214771
Source:
Crexi
Added: Jun 17
Changed: Aug 7
Last Checked: Aug 12 at 12:41PM
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 Ariel Property Advisors
Investment Insights
Based on property information with market context.
1846-1848 Guerlain Street is a for-sale multi-family apartment building configured as a residential income property. The offering comprises apartment-building assets identified by the 1846 and 1848 addresses on Guerlain Street, totaling 11,529 square feet of property size as provided in the listing information.
The property is located in New York City, Bronx, NY 10460. This is an address-specific opportunity within the NYC market, presented for sale based on the details currently available.
This type of asset can be a practical fit for investors and owner-operators seeking residential income exposure through an apartment building in the Bronx. Since no unit mix, tenancy status, or building condition details are provided in the available information, prospective buyers are encouraged to review the offering materials to confirm current configuration, income structure, and any required due diligence items. The property’s straightforward description as a multi-family residential income building makes it appropriate for those looking to evaluate a secured, address-based investment in New York City.
The property is located in New York City, Bronx, NY 10460. This is an address-specific opportunity within the NYC market, presented for sale based on the details currently available.
This type of asset can be a practical fit for investors and owner-operators seeking residential income exposure through an apartment building in the Bronx. Since no unit mix, tenancy status, or building condition details are provided in the available information, prospective buyers are encouraged to review the offering materials to confirm current configuration, income structure, and any required due diligence items. The property’s straightforward description as a multi-family residential income building makes it appropriate for those looking to evaluate a secured, address-based investment in New York City.
Key Highlights
- New residential income property at 1846‑1848 Guerlain Street, New York City, NY 10460
- Built in 2024
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
$265,209
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
3.54%
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%
$5,304,180
$5.3M
Cap Rate 7%
$3,788,700
$3.8M
Cap Rate 9%
$2,946,767
$2.9M
Market Conditions
NOI Build-Up for 11,529 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
$511.9K $44.40/SF
− Vacancy
−$29.7K −$2.58/SF
EGI
$482.2K $41.82/SF
− OpEx
−$217.0K −$18.82/SF
NOI
$265.2K $23.00/SF
Area
Bronx, NY
Vacancy
5.80%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
45.00%
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%
$5,304,180
Cap Rate 7%
$3,788,700
Cap Rate 9%
$2,946,767
Alternative Uses
Best Use
Apartment 5plus
$3.79M
$3.32M – $4.42M
NOI $265,209 @ 7.0% cap · market cap 3.54%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$7.99M
$6.99M – $9.32M
NOI $559,215 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,883
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - For-sale residential income property offering apartment building exposure in the Bronx, New York.
Where is this apartment building located?
The property is located at 1846-1848 Guerlain Street Bronx, NY.
What is the asking price?
The asking price for this property is $7,500,000.
What are key features of this property?
This property features: New residential income property at 1846‑1848 Guerlain Street, New York City, NY 10460; Built in 2024
