New York, NY 10466

Property

Ownership: For Sale
Type: Multi-Family
Lot Size: 0.1 Acres

Financials

Price:$1,555,000
Annual Taxes:$29,539.88
505 Park Ave, New York, NY 10022
Listing Courtesy of At Home With Yara Realty

Prime Wakefield Investment 7 Unit Income Producing Property Near Transit.

Description

Prime Wakefield Investment — 7-Unit Income-Producing Property Near Transit. Exceptional opportunity to own a brick 3-story multifamily building in the Wakefield section of the Bronx—one of the city’s strongest and most consistent rental markets. 7 total income-generating units, including: • Five 2-bedroom apartments • One 1-bedroom apartment • Bonus 2-bedroom unit in the basement Perfect for investors seeking strong cash flow, portfolio expansion, or owner-occupants looking to offset living costs with rental income. • Gross Rental Income: $169,020 annually • Total Expenses: $58,427.72 • Net Operating Income (NOI): $110,592.28 • Cap Rate: ~7.1% • GRM (Gross Rent Multiplier): ~9.2 Major capital improvements completed (boiler, roof, gas lines, oil tanks). Just 2 blocks from the Nereid Ave / White Plains Rd station (2 & 5 trains), offering a quick and convenient commute throughout NYC. Surrounded by local shops, restaurants, schools, and public transportation, making it extremely attractive to tenants.

Amenities

  • Electricity Connected
  • Natural Gas Connected
  • Trash Collection Public
  • Water Connected

Long Island MLS

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.