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Listed by Herminia Florimon Graciela Flormon
$ 1,400,000
Est. payment /mo
Active
854 E 229th ST Bronx, NY OTHER
9 Beds
3 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 3 Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 26007657
Style 3 Family
Bedrooms 9
Full Baths 3
Property Sub-Type 3 Family
Property Description
Double-track value: Keep the existing cash-flowing 3-family while planning and building a second 3-fa on the same lot, creating two revenue streams and maximizing FAR for the parcel. Immediate income + upside: Existing tenants provide instant NOI while a new build captures additional long-term rental revenue or a quick value-add resale. Four private garages. Shared lot reduces acquisition costs per unit compared with buying separate properties; development costs concentrated on one parcel. Strong ROI potential: Below-market asking price for combined lot and build potential in R4 zoning presents clear opportunity for unit count expansion, rent growth after renovation, or a 2-property sale strategy. Hold for stabilized cash flow, renovate and increase rents, or develop and sell the new 3-family separately or as a package. A premier investment opportunity legal 3-family brick home situated on a spacious lot. This property is ideally configured with a versatile layout featuring 4 beds over 3 beds over 2 beds. The home is well-equipped for multi-family management, featuring three boilers, four electric meters, and three gas meters. Additionally, the property offers exceptional parking and storage solutions, including garages, a private driveway. TWO tenants' units occupied. Monthly Rent: $3,606.00 each, and 2 beds Vacant. PROPERTY COULD BE DELIVERY VACANT. Located just minutes from the 233rd Street MTA station. Easy access to major highways, buses, schools, and local shops.
Location
State NY
County Other Counties
Interior
Laundry None
