855 217Th StBronx, NY 10467

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.