UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Pending
Purchase Type For Sale
Subdivision Wakefield
MLS Listing ID 895902
Rental Info No
Year Built 1926
Annual Tax Amount $27,431
Lot Size 3,724 Sqft
Acres 0.0855
Property Sub-Type Multi Family
Source onekey2
Property Description
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.
Location
State NY
County Bronx County
Rooms
Basement Full
Interior
Heating Steam
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Utilities Available Electricity Connected, Natural Gas Connected
Building
Story 4
Sewer Public Sewer
Water Public
Structure Type Brick
Others
Special Listing Condition None
NEARBY SCHOOLS & PROPERTIES
The mission of the ASA Real Estate Group is to provide a lifelong, positive impact on our clients, our communities, our team, as well as the other realtors with which we work. We specialize in assisting Buyers and Sellers transact. With our extensive knowledge of the market we help our clients get the best possible price for their home through proactive marketing approach. We guide sellers and buyers through every step of the process and keep them updated their transaction.