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:
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7 residential units in total.
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3 stories, built in 1930.
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Approximate building area: 4,800 sq ft.
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Lot size: approx. 2,860 sq ft.
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Zoning R4; building class C1 (Walk-up apartments over six families, no stores).
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Located within ZIP code 10466, Bronx Community District 12.
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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.
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Value-Add Opportunity - Built in 1930, this property likely presents opportunities for modernization (interiors, appliances, finishes), thereby increasing rental premiums and overall NOI.
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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.
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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.
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.
-
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.
-
Value-Add Opportunity - Built in 1930, this property likely presents opportunities for modernization (interiors, appliances, finishes), thereby increasing rental premiums and overall NOI.
-
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.
-
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.
