Description
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.
Details
| MLS # | 968735 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1910 |
| Days On Site | 168 |
| Listing Provided By | Keller Williams Realty NYC Grp | Herminia Florimon |
Features
| Bed(s) | 9 |
|---|---|
| Bath(s) | 3 Total |
| SQ Feet | 3,366 |
| Garage | 2 |
| Units | 3 |
| Acreage | 0.13 |
Interior
| Cooling | None |
|---|---|
| Heating | Natural Gas |
| Interior Features | High Ceilings |
Exterior
| Construction Materials | Brick |
|---|
Parking
| Garage Yes / No | Yes |
|---|---|
| Parking Features | Driveway |
Utilities
| Utilities | Electricity Connected |
|---|---|
| Sewer | Public Sewer |
Taxes
| Tax Year | 2025 |
|---|---|
| Tax Assessed Value | 65640 |
| Tax Annual Amount | 9141.12 |
Area Information
| State | NY |
|---|---|
| County | Bronx County |
| City | Bronx |
| Zip Code | 10466 |
| Listing VS Median (in 10466) | |
Price: $1,400,000 low | high Med: $700,000 sqft: 3,366 low | high Med: 1,950 $ / sqft: $416 low | high Med: $360 On site: 168 low | high Med: 12.5 | |
Market Activity 10466
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Learn More About This Property
| State | NY |
|---|---|
| County | Bronx County |
| City | Bronx |
| Zip Code | 10466 |
| Listing VS Median (in 10466) | |
Price: $1,400,000 low | high Med: $700,000 sqft: 3,366 low | high Med: 1,950 $ / sqft: $416 low | high Med: $360 On site: 168 low | high Med: 12.5 | |
 | $1,200,000839 E 228th StreetBronx, NY 10466 |