About This Home
This 8-bedroom, 3-bathroom residential multi family at 854E 229th Street in Bronx, NY is listed for $1,350,000 ($401 per sqft). Built in 1910, the home offers 3,366 sqft of living space on a N/A lot.
Key Features
- Built in 1910
- 3 stories
Property Details
Double-track value: Keep the existing cash-flowing 3-family while planning and building a second 3-family on the same lot, creating two revenue streams and maximizing FAR for the parcel. Immediate income + upside: Existing tenants provide instant NOI while a new build captures additional long-term rental revenue or a quick value-add resale.
- Scarce garage supply: Four private garages significantly boost unit desirability and rent premiums in the borough where off-street parking is rare. Economies of scale: Shared lot reduces acquisition costs per unit compared with buying separate properties; development costs concentrated on one parcel.
Strong ROI potential: Below-market asking price for combined lot and build potential in R4 zoning presents clear opportunity for unit count expansion, rent growth after renovation, or a 2-property sale strategy. Flexible exit strategies: Hold for stabilized cash flow, renovate and increase rents, or develop and sell the new 3-family separately or as a package.
A premier investment opportunity regarding a legal three-family brick home situated on a spacious lot. This property is ideally configured with a versatile layout featuring 4 bedrooms over 3 bedrooms over 2 bedrooms, making it an excellent addition to any real estate portfolio.
The home is well-equipped for multi-family management, featuring three boilers, four electric meters, and three gas meters. Additionally, the property offers exceptional parking and storage solutions, including garages, a private driveway. TWO tenants' units occupied.
Monthly Rent: $3,606.00 each, and the 2 beds units is Vacant. PROPERTY COULD BE DELIVERY VACANT. Conveniently located just minutes from the 233rd Street MTA station, the property provides easy access to major highways, buses, schools, and local shops.A premier investment opportunity regarding a legal three-family brick home.
This property is ideally configured with a versatile layout featuring 4 bedrooms over 3 bedrooms over 2 bedrooms, making it an excellent addition to any real estate portfolio. The home is well-equipped for multi-family management, featuring three boilers, four electric meters, and three gas meters
Monthly Cost Estimate
$7,220/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
854E 229th Street
Bronx, NY 10466
East Bronx
Property Details
Heating
Questions & Answers
This 8-bedroom, 3-bathroom residential multi family at 854E 229th Street is listed at $1,350,000 ($401/sqft). The estimated monthly payment is $7,220 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.
Key features include: Built in 1910, 3 stories.
This property is listed by Herminia Florimon.
Herminia Florimon
Agent at KELLER WILLIAMS REALTY NYC GROUP
