760 E 232nd Street, Bronx, NY 10466

Property Description

**Exceptional North Bronx Multifamily Investment Opportunity — 12-Unit Rent-Stabilized Brick Building** Presenting 760 E 232nd Street: a well-maintained, solid brick 12-unit multifamily property located in the Wakefield section of the Bronx. This rent-stabilized building offers a rare blend of in-place cash flow with meaningful upside through unit turnover and operational optimization. The unit mix includes: * **(3) Vacant Units** – Immediate lease-up or value-add repositioning opportunity * **(1) 3BR Unit** – Will be delivered vacant * **(8) Stabilized/Rented Units** with diversified rent rolls: * 1BRs renting at \$859, \$1,113 (ERAP), \$1,198, \$1,233, and \$1,336 * 2BRs renting at \$1,117, \$1,521, and \$2,174 (lease through 2026) * (1) 2BR in active eviction – Legal in process Several units are month-to-month or have upcoming lease expirations, positioning a savvy investor to gradually reset rents to market while preserving asset stability. The building offers **strong fundamentals**, low turnover risk, and is situated in a **transit-friendly corridor** near the 2 and 5 trains, Metro-North, major bus lines, and key Bronx retail. With continued demand for affordable housing in the Bronx, this asset is well-positioned to outperform over time. **Key Highlights:** * Solid brick construction * Stabilized asset with immediate upside * 25% vacancy and additional unit turnover potential * No major deferred maintenance reported * Rent roll diversification with growth opportunity This is a **prime hold for multifamily operators**, 1031 exchange buyers, and fund managers seeking solid in-place returns and long-term value appreciation in one of NYC’s most resilient rental submarkets.