760 E 232nd Street

Bronx, NY 10466

**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.

Listing courtesy of Keller Williams Realty Group brownm@kw.com


Based on information submitted to the MLS GRID as of 2025-10-26 12:56 AM EDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.