715 E 214th Street, Bronx, NY 10467

Property Description

CAP RATE OF OVER 10% 715 East 214th Street is an excellent multifamily investment opportunity in the thriving Wakefield section of the Bronx. This well-maintained elevator building consists of 37 residential apartments across a diverse unit mix of 19 studios, 9 one-bedrooms, and 9 two-bedrooms, delivering strong in-place cash flow and stable occupancy. The property is 100% occupied with many units held by long-term tenants supported through established housing organizations and government-assisted programs, providing dependable and predictable rental income. The building currently generates $58,319 per month ($699,826 annually) in gross rental income. Operating at an 87%+ NOI margin, the building demonstrates exceptional operational efficiency. Tenants pay heat and electric, keeping landlord expenses low. Conveniently located one block from the 225th Street subway station (2/5 lines) with Metro-North access ~25 min to Grand Central, making it one of Wakefield's most accessible locations.