Description

The Lennon Team presents an attractive value-add investment opportunity in the northern Bronx: this 7-unit building, situated at 751 E 224th St in the Wakefield, Bronx neighborhood, offers strong income potential with a nearly 100-year-old structure and favorable positioning for long-term investors.

Key facts:

• 7 residential units in total. 

• 3 stories, built in 1930. 

• Approximate building area: 4,800 sq ft. 

• Lot size: approx. 2,860 sq ft. 

• Zoning R4; building class C1 (Walk-up apartments over six families, no stores). 

• Located within ZIP code 10466, Bronx Community District 12. 

1. Multi-Unit Format with Scale - At 7 units, the building offers scale beyond a typical small investor duplex or triplex, enabling better amortization of operating expenses and management overhead.

2. Value-Add Opportunity - Built in 1930, this property likely presents opportunities for modernization (interiors, appliances, finishes), thereby increasing rental premiums and overall NOI.

3. Northern Bronx Location - The Wakefield neighborhood of the Bronx offers access to NYC transit and a relatively lower entry cost compared to Manhattan, Brooklyn or more prominent Bronx sub-markets. 

4. Zoning and Conversion Flexibility - R4 zoning supports multi-unit usage; potential exists (subject to approvals) for repositioning amenities, enhancing curb appeal, or optimizing unit layouts.