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$6,660,000
Est. payment /mo
6,250 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1015537
Rental Info No
Year Built 2013
Annual Tax Amount $2,326
Lot Size 6,250 Sqft
Acres 0.1435
Property Sub-Type Multi Family
Source onekey2
Property Description
CAP RATE OF OVER 10%
715 East 214th Street is an excellent multifamily investment opportunity in the thriving Wakefield
section of the Bronx. This well-maintained elevator building consists of 37 residential
apartments across a diverse unit mix of 19 studios, 9 one-bedrooms, and 9 two-bedrooms,
delivering strong in-place cash flow and stable occupancy.
The property is 100% occupied with many units held by long-term tenants supported through
established housing organizations and government-assisted programs, providing dependable
and predictable rental income. The building currently generates $58,319 per month ($699,826
annually) in gross rental income.
Operating at an 87%+ NOI margin, the building demonstrates exceptional operational efficiency.
Tenants pay heat and electric, keeping landlord expenses low. Conveniently located one block
from the 225th Street subway station (2/5 lines) with Metro-North access ~25 min to Grand
Central, making it one of Wakefield's most accessible locations.
715 East 214th Street is an excellent multifamily investment opportunity in the thriving Wakefield
section of the Bronx. This well-maintained elevator building consists of 37 residential
apartments across a diverse unit mix of 19 studios, 9 one-bedrooms, and 9 two-bedrooms,
delivering strong in-place cash flow and stable occupancy.
The property is 100% occupied with many units held by long-term tenants supported through
established housing organizations and government-assisted programs, providing dependable
and predictable rental income. The building currently generates $58,319 per month ($699,826
annually) in gross rental income.
Operating at an 87%+ NOI margin, the building demonstrates exceptional operational efficiency.
Tenants pay heat and electric, keeping landlord expenses low. Conveniently located one block
from the 225th Street subway station (2/5 lines) with Metro-North access ~25 min to Grand
Central, making it one of Wakefield's most accessible locations.
Location
State NY
County Bronx County
Rooms
Basement Full
Interior
Heating Baseboard, Electric
Cooling Central Air, Varies by Unit
Fireplace No
Exterior
Parking Features Other
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, See Remarks, Sewer Connected, Trash Collection Public, Water Connected
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Schools
High Schools Bronx 11
School District Bronx 11
Others
Special Listing Condition None
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Listed by Link NY Realty • Valon Nikci
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