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Thomas "Chopper" Russo

chopper@chopperrussoteam.com +1(201) 240-5200

$ 1,400,000

Est. payment | -/mo

9 Beds

3 Baths

5,719 Sqft Lot

Save

$ 1,400,000

Est. payment | -/mo

Save

9 Beds

3 Baths

5,719 Sqft Lot

Key Details

Property Type Multi-Family

Sub Type Triplex

Listing Status Active

Purchase Type For Sale

Subdivision Wakefield

MLS Listing ID 968735

Bedrooms 9

Full Baths 3

Rental Info No

Year Built 1910

Annual Tax Amount $9,141

Lot Size 5,719 Sqft

Acres 0.1313

Property Sub-Type Triplex

Source onekey2

Property 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.

Location

State NY

County Bronx County

Interior

Interior Features High Ceilings

Heating Natural Gas

Cooling None

Fireplace No

Exterior

Parking Features Driveway

Garage Spaces 2.0

Utilities Available Electricity Connected

Garage true

Building

Sewer Public Sewer

Water Public

Structure Type Brick

Others

Senior Community No

Special Listing Condition None

OneKey MLS/ Hudson Gateway (HGAR)/ Long Island MLS (MLSLI)/ Mid Hudson MLS

Listed by Keller Williams Realty NYC Grp • Herminia Florimon

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Thomas "Chopper" Russo

Broker Associate

+1(201) 240-5200

854 E 229th ST Bronx, NY 10466

Thomas "Chopper" Russo

Key Details

Location

Interior

Exterior

Building

Others

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854 E 229th ST