For Sale
$6,495,000

855 217Th St Bronx, NY 10467

30-Unit Elevator Building, High NOI

Property Records

Overview

Added:
Dec 11, 2024
Days on market:
138
This exceptional 30-unit multifamily property, located at 855 E 217th St in the Bronx, NY 10467, presents a compelling investment opportunity. Built in 2006, this six-story elevator building boasts 31,914 square feet and sits on an 11,456 square foot lot. The property features a mix of unit sizes: six one-bedroom, nineteen two-bedroom, and five three-bedroom apartments, many with private terraces or duplex layouts. A significant advantage is the 15-year 421a tax abatement, commencing in 2010. Residents enjoy a convenient on-site recreation center and a private 15-space parking lot. The building's strong financial performance is highlighted by a Net Operating Income (NOI) of $465,488, resulting in a 7.17% cap rate. The asking price is $6,495,000, translating to $216,500 per unit. Situated in the Williams Bridge section of the Bronx, the property benefits from its proximity to the White Plains Road retail corridor, offering easy access to public transportation (2/5 trains) and numerous retail amenities including Domino's, Walgreens, Dollar Tree, Rite Aid, and Cherry Valley Marketplace. Individual gas and electric meters are installed in each apartment. This well-maintained building offers a rare opportunity to acquire a substantial multifamily asset at approximately 50% of replacement cost. The R5 zoning designation further enhances its long-term potential.

Highlights

  • 30-unit multifamily building in the Bronx, NY.
  • 15-space private parking lot.
  • Mix of large one-, two-, and three-bedroom apartments.
  • 2006 construction, offered at approximately 50% of replacement cost.
  • $465,488 Net Operating Income (NOI).

Property Details for 855 217Th St

Property type
Apartment buildings
Square Feet
31,914 SF
Year Built
2006
Stories
6
Units
30

Location Insight

City
Bronx
County
Bronx
State
New York
Latitude
40.880779
Longitude
-73.8585842

FAQs

What type of property is this?
Apartment building - 30-Unit Elevator Building, High NOI
Where is the apartment building located?
The property is located at 855 217Th St Bronx, NY.
What is the asking price?
The asking price for this property is $6,495,000.
What are key features of this property?
This property features: 30-unit multifamily building in the Bronx, NY.; 15-space private parking lot.; Mix of large one-, two-, and three-bedroom apartments.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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855 217Th St
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