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$ 1,500,000
Est. payment | /mo
3,724 Sqft Lot
$ 1,500,000
Est. payment | /mo
3,724 Sqft Lot
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Pending
Purchase Type For Sale
MLS Listing ID 895902
Rental Info No
Year Built 1926
Annual Tax Amount $27,431
Lot Size 3,724 Sqft
Acres 0.0855
Property Sub-Type Multi Family
Source onekey2
Property Description
**Exceptional North Bronx Multifamily Investment Opportunity — 12-Unit Rent-Stabilized Brick Building**
Presenting 760 E 232nd Street: a well-maintained, solid brick 12-unit multifamily property located in the Wakefield section of the Bronx. This rent-stabilized building offers a rare blend of in-place cash flow with meaningful upside through unit turnover and operational optimization.
The unit mix includes:
* **(3) Vacant Units** – Immediate lease-up or value-add repositioning opportunity
* **(1) 3BR Unit** – Will be delivered vacant
* **(8) Stabilized/Rented Units** with diversified rent rolls:
* 1BRs renting at \$859, \$1,113 (ERAP), \$1,198, \$1,233, and \$1,336
* 2BRs renting at \$1,117, \$1,521, and \$2,174 (lease through 2026)
* (1) 2BR in active eviction – Legal in process
Several units are month-to-month or have upcoming lease expirations, positioning a savvy investor to gradually reset rents to market while preserving asset stability.
The building offers **strong fundamentals**, low turnover risk, and is situated in a **transit-friendly corridor** near the 2 and 5 trains, Metro-North, major bus lines, and key Bronx retail. With continued demand for affordable housing in the Bronx, this asset is well-positioned to outperform over time.
**Key Highlights:**
* Solid brick construction
* Stabilized asset with immediate upside
* 25% vacancy and additional unit turnover potential
* No major deferred maintenance reported
* Rent roll diversification with growth opportunity
This is a **prime hold for multifamily operators**, 1031 exchange buyers, and fund managers seeking solid in-place returns and long-term value appreciation in one of NYC's most resilient rental submarkets.
Presenting 760 E 232nd Street: a well-maintained, solid brick 12-unit multifamily property located in the Wakefield section of the Bronx. This rent-stabilized building offers a rare blend of in-place cash flow with meaningful upside through unit turnover and operational optimization.
The unit mix includes:
* **(3) Vacant Units** – Immediate lease-up or value-add repositioning opportunity
* **(1) 3BR Unit** – Will be delivered vacant
* **(8) Stabilized/Rented Units** with diversified rent rolls:
* 1BRs renting at \$859, \$1,113 (ERAP), \$1,198, \$1,233, and \$1,336
* 2BRs renting at \$1,117, \$1,521, and \$2,174 (lease through 2026)
* (1) 2BR in active eviction – Legal in process
Several units are month-to-month or have upcoming lease expirations, positioning a savvy investor to gradually reset rents to market while preserving asset stability.
The building offers **strong fundamentals**, low turnover risk, and is situated in a **transit-friendly corridor** near the 2 and 5 trains, Metro-North, major bus lines, and key Bronx retail. With continued demand for affordable housing in the Bronx, this asset is well-positioned to outperform over time.
**Key Highlights:**
* Solid brick construction
* Stabilized asset with immediate upside
* 25% vacancy and additional unit turnover potential
* No major deferred maintenance reported
* Rent roll diversification with growth opportunity
This is a **prime hold for multifamily operators**, 1031 exchange buyers, and fund managers seeking solid in-place returns and long-term value appreciation in one of NYC's most resilient rental submarkets.
Location
State NY
County Bronx County
Rooms
Basement Full
Interior
Heating Steam
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Utilities Available Electricity Connected, Natural Gas Connected
Building
Story 4
Sewer Public Sewer
Water Public
Structure Type Brick
Others
Special Listing Condition None
Listed by Keller Williams Realty Group • Michael A. Brown
Nearby Locations
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Jeffrey Jimenez
Licensed Real Estate Salesperson | License ID: 10401267947