715 E 214th StreetBronx, NY 10467

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.

Property Information

Property type

Commercial Sale

Sub-type

Multi Family

Year built

2013

Building area

24,302 Sq Ft

Lot size

0.14 acres

Days on market

19

MLS^® Listing#

1047865

Property Features

Cooling

Central Air · Varies by Unit

Heating

Baseboard · Electric

Basement

Full

Parking

Other

Construction

Brick

Utilities

Natural Gas Available · Cable Connected · Electricity Connected · Natural Gas Connected · See Remarks · Sewer Connected · Water Connected

Sewer

Public Sewer

Water source

Public

Financial Details

Annual taxes

$2,327

Assessed value

$1,409,400

Parcel number

04662-0023