Property Description

CAP RATE OF OVER 10%715 East 214th Street is an excellent multifamily investment opportunity in the thriving Wakefieldsection of the Bronx. This well-maintained elevator building consists of 37 residentialapartments 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 throughestablished housing organizations and government-assisted programs, providing dependableand predictable rental income. The building currently generates $58,319 per month ($699,826annually) 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 blockfrom the 225th Street subway station (2/5 lines) with Metro-North access ~25 min to GrandCentral, making it one of Wakefield's most accessible locations.

Property Features

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