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.  


Data is provided by OneKey MLS.