Multi Family 5+ in Bronx County
| MLS Number | 1015537 |
|---|---|
| Address | 715 E 214th Street, Bronx, NY 10467 show map |
| Price | $6,660,000 show mortgage calculator |
| Acres | 0.14348025711662 |
| Year Built | 2013 |
| Est. Sq. Footage | 0 |
| Elementary School | |
| Jr High-Middle School | |
| High School | |
| Estimated Taxes | $2,327 |
| Total Apt Units | 37 |
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.
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