Tenant-Occupied
For Sale
$999,000
Pending
848 E 214th St The, Bronx, NY 10467
Three apartments comprise one two-bedroom unit and two three-bedroom units.
Property Size3,000 SF
Days on Market36
Property Features for 848 E 214th St The
General Information
Standard status
Pending
Size
3,000 SF
Property subtype
Investment
Occupancy
100%
Units
Unit Mix
1 x 2BR, 2 x 3BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$7,799
Building Details
Building Size
3,000 SF
Year Built
1990
Units
3
Listing Agency:
Landseair Real Estate Group
Listed By:
Camilo R. Reyes
(914) 469-8530
Source:
Elliman
Added: Jul 30
Changed: Aug 30
Last Checked: Sep 1 at 9:41PM
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 Landseair Real Estate Group
Investment Insights
Based on property information with market context.
This three-family residential property contains three separate apartments: one with two bedrooms and two with three bedrooms. The building is being offered in its present condition and is fully occupied by tenants, providing an existing multi-unit configuration for review by prospective purchasers.
Located on E 214th Street in The Bronx, the property is near local retail, dining options, and public transportation. The apartment mix supports a range of household sizes, while the existing occupancy and as-is sale terms should be evaluated as part of the transaction.
Located on E 214th Street in The Bronx, the property is near local retail, dining options, and public transportation. The apartment mix supports a range of household sizes, while the existing occupancy and as-is sale terms should be evaluated as part of the transaction.
Key Highlights
- Three‑family property with three apartments
- Unit mix includes one 2‑bedroom apartment and two 3‑bedroom apartments
- Fully tenant occupied
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
$73,042
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
7.31%
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%
$1,460,840
$1.5M
Cap Rate 7%
$1,043,457
$1.0M
Cap Rate 9%
$811,578
$811.6K
Market Conditions
NOI Build-Up for 3,000 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
$111.6K $37.20/SF
− Vacancy
−$7.3K −$2.42/SF
EGI
$104.3K $34.78/SF
− OpEx
−$31.3K −$10.43/SF
NOI
$73.0K $24.35/SF
Area
ZIP 10467
Vacancy
6.50%
Lease Rate
$37.20 /SF/Yr
Expense Ratio
30.00%
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%
$1,460,840
Cap Rate 7%
$1,043,457
Cap Rate 9%
$811,578
Alternative Uses
Best Use
Multifamily LT 5
$1.04M
$913.0K – $1.22M
NOI $73,042 @ 7.0% cap · market cap 7.31%
Second Best
Apartment 5plus
$932.6K
$816.0K – $1.09M
NOI $65,281 @ 7.0% cap · market cap 6.53%
Theoretical Best
Warehouse
$2.08M
$1.82M – $2.43M
NOI $145,515 @ 7.0% cap · market cap 14.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,654
Businesses Nearby
Explore this area
Business Placement
Demographics for 10467, NY
103,660
Population
40,582
Households
2.6
Avg Household Size
36
Median Age
22%
College-Educated
75%
High-School Grad
2.3 sq mi
ZIP Area
45,070
Density / Sq Mi
$47,806
Median Household Income
$36,949
Median Earnings
$1,505
Median Rent
$425,500
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?
Triplex - Three apartments comprise one two-bedroom unit and two three-bedroom units.
Where is this triplex located?
The property is located at 848 E 214th St The Bronx, NY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Three‑family property with three apartments; Unit mix includes one 2‑bedroom apartment and two 3‑bedroom apartments; Fully tenant occupied
