854 229th Street,New York, NJ 10466
New York, NJ 10466
Description
Prime Bronx Investment opportunity regarding a legal three-family brick home situated on a spacious lot. opportunity for developers and investors: Solid, all-brick, three-family property on a 50' x 114.5' lot, zoned 4, in the Bronx. Exceptional Well-maintained structure with 4 detached/covered garages " delivering immediate rental income and rare expansion potential on a single site. Three boilers, four electric meters, and three gas meters. Additionally, the property offers exceptional parking and storage solutions, including garages, a private driveway. Conveniently located just minutes from the 233rd Street MTA station, the property provides easy access to major highways, buses, schools, and local shops. Lot: 50' x 114.5'-- with buildable parcel.- Zoning: R4 multi-fam residential zoning. It permits another 3-family building (subject to DOB approvals). Building: All-brick construction, three income-producing units. Delivering immediate rental income and rare expansion potential on a single site. - 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.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
Details
| MLS # | 4050831 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1910 |
| Days On Site | 28 |
| Listing Provided By | GRACIELA FLORIMON | HERMINIA FLORIMON |
Features
| Bath(s) | 3 Total |
|---|
Taxes
| Property | 9141 |
|---|
Area Information
| State | NJ |
|---|---|
| County | Other |
| City | New York |
| Zip Code | 10466 |
| Area | Other |
| Listing VS Median (in 10466) | |
Price: $1,350,000 low | high Med: $0 On site: 28 low | high Med: | |
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Learn More About This Property
| State | NJ |
|---|---|
| County | Other |
| City | New York |
| Zip Code | 10466 |
| Area | Other |
| Listing VS Median (in 10466) | |
Price: $1,350,000 low | high Med: $0 On site: 28 low | high Med: | |