760 E 232nd StreetBronx, 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.

Property Information

Property type

Commercial Sale

Sub-type

Multi Family

Year built

1926

Stories

4

Building area

9,772 Sq Ft

Lot size

0.09 acres

Days on market

29

MLS^® Listing#

1055259

Property Features

Cooling

Wall/Window Unit(s)

Heating

Steam

Basement

Full

Parking

No Garage · None

Construction

Brick

Utilities

Natural Gas Available · Electricity Connected · Natural Gas Connected

Sewer

Public Sewer

Water source

Public

Schools

Elementary

Ps 21 Philip H Sheridan

Financial Details

Annual taxes

$27,432

Assessed value

$269,100

Parcel number

04845-0075