760 E 232nd Street,Bronx, NY 10466
Bronx, NY 10466
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. This is a short sale and requires approval. Buyer is responsible for Probate retainer of $10,000.
Details
| MLS # | 1055259 |
|---|---|
| Listing Type | For Sale |
| Style | Multi-Family |
| Sub-Type | Resale |
| Status | Active |
| Year | 1926 |
| Days On Site | 43 |
| Listing Provided By | Keller Williams Realty Group | Michael A. Brown |
Features
| SQ Feet | 9,772 |
|---|---|
| Basement | Y |
| Story(s) | 4 |
| Units | 12 |
| Acreage | 0.09 |
Interior
| Cooling | Wall/Window Unit(s) |
|---|---|
| Heating | Steam |
Exterior
| Construction Materials | Brick |
|---|
Parking
| Parking Features | None |
|---|
Utilities
| Utilities | Electricity Connected, Natural Gas Connected |
|---|---|
| Sewer | Public Sewer |
Taxes
| Tax Year | 2024 |
|---|---|
| Tax Assessed Value | 269100 |
| Tax Annual Amount | 27431.92 |
Area Information
| State | NY |
|---|---|
| County | Bronx County |
| City | Bronx |
| Zip Code | 10466 |
| School District | Ps 21 Philip H Sheridan |
| Elementary School | Ps 21 Philip H Sheridan |
| Listing VS Median (in 10466) | |
Price: $999,900 low | high Med: $700,000 sqft: 9,772 low | high Med: 4,300 $ / sqft: $102 low | high Med: $163 On site: 43 low | high Med: 462 | |
Market Activity 10466
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Learn More About This Property
| State | NY |
|---|---|
| County | Bronx County |
| City | Bronx |
| Zip Code | 10466 |
| School District | Ps 21 Philip H Sheridan |
| Elementary School | Ps 21 Philip H Sheridan |
| Listing VS Median (in 10466) | |
Price: $999,900 low | high Med: $700,000 sqft: 9,772 low | high Med: 4,300 $ / sqft: $102 low | high Med: $163 On site: 43 low | high Med: 462 | |
270 Main Street
Cornwall, NY 12518
845-534-7874
Hours of Operation
Specializing in Buying and
Selling Real Estate in Cornwall,
NY and surrounding areas.
Fair House Notice
SOP for Purchasers of Real Estate
