Ad #7818793
MLS #968735
Double-track value: Keep the existing cash-flowing 3-family
854 E 229th St, Bronx, New York, 10466
$1,400,000
9Beds
3Baths
--Sqft
0.131Acres
About this property
Double-track value: Keep the existing cash-flowing 3-family while planning and building a second 3-family on the same lot, creating two revenue streams and maximizing FAR for the parcel. Immediate income + upside: Existing tenants provide instant NOI while a new build captures additional long-term rental revenue or a quick value-add resale. - Scarce garage supply: Four private garages significantly boost unit desirability and rent premiums in the borough where off-street parking is rare. Economies of scale: Shared lot reduces acquisition costs per unit compared with buying separate properties; development costs concentrated on one parcel. Strong ROI potential: Below-market asking price for combined lot and build potential in R4 zoning presents clear opportunity for unit count expansion, rent growth after renovation, or a 2-property sale strategy. Flexible exit strategies: Hold for stabilized cash flow, renovate and increase rents, or develop and sell the new 3-family separately or as a package. A premier investment opportunity regarding a legal three-family brick home situated on a spacious lot. This property is ideally configured with a versatile layout featuring 4 bedrooms over 3 bedrooms over 2 bedrooms, making it an excellent addition to any real estate portfolio. The home is well-equipped for multi-family management, featuring three boilers, four electric meters, and three gas meters. Additionally, the property offers exceptional parking and storage solutions, including garages, a private driveway. TWO tenants' units occupied. Monthly Rent: $3,606.00 each, and the 2 beds units is Vacant. PROPERTY COULD BE DELIVERY VACANT. Conveniently located just minutes from the 233rd Street MTA station, the property provides easy access to major highways, buses, schools, and local shops.
Property Features
9 Beds
3 Baths
0 Sqft
Built in 1910
0.131 Acres
Driveway
Siding: Brick
Natural Gas
$9,141 / yr property tax
Bronx County
Additional Photos
Contact Information
Herminia Florimon
Keller Williams Realty NYC Group
347-963-8373
Location
Listing Agent: Herminia Florimon 347-963-8373
Broker: Keller Williams Realty NYC Group 718-697-6800 Listing Site
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Broker: Keller Williams Realty NYC Group 718-697-6800 Listing Site
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
BeachHouse.com
Printed Jul 24, 2026
Photo Gallery
$1,400,000
9
Beds
3
Baths
--
Sqft
854 E 229th St, Bronx, New York, 10466
By contacting this agent you agree to these Terms and Conditions.
MLS# 968735
Double-track value: Keep the existing cash-flowing 3-family
$1,400,000
854 E 229th St, Bronx, New York, 10466
9
Beds
3
Baths
--
Sqft
0.131
Acres
$1,400,000
854 E 229th St, Bronx, New York, 10466
9 Beds
3 Baths
-- Sqft
0.131 Acres
Double-track value: Keep the existing cash-flowing 3-family while planning and building a second 3-family on the same lot, creating two revenue streams and maximizing FAR for the parcel. Immediate income + upside: Existing tenants provide instant NOI while a new build captures additional long-term rental revenue or a quick value-add resale. - Scarce garage supply: Four private garages significantly boost unit desirability and rent premiums in the borough where off-street parking is rare. Economies of scale: Shared lot reduces acquisition costs per unit compared with buying separate properties; development costs concentrated on one parcel. Strong ROI potential: Below-market asking price for combined lot and build potential in R4 zoning presents clear opportunity for unit count expansion, rent growth after renovation, or a 2-property sale strategy. Flexible exit strategies: Hold for stabilized cash flow, renovate and increase rents, or develop and sell the new 3-family separately or as a package. A premier investment opportunity regarding a legal three-family brick home situated on a spacious lot. This property is ideally configured with a versatile layout featuring 4 bedrooms over 3 bedrooms over 2 bedrooms, making it an excellent addition to any real estate portfolio. The home is well-equipped for multi-family management, featuring three boilers, four electric meters, and three gas meters. Additionally, the property offers exceptional parking and storage solutions, including garages, a private driveway. TWO tenants' units occupied. Monthly Rent: $3,606.00 each, and the 2 beds units is Vacant. PROPERTY COULD BE DELIVERY VACANT. Conveniently located just minutes from the 233rd Street MTA station, the property provides easy access to major highways, buses, schools, and local shops.
20 days
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Property Details
HOME DETAILS
9 Beds
3 Baths
0 Sqft
Built in 1910
0.131 Acres
EXTERIOR
Driveway
Siding: Brick
INTERIOR
Natural Gas
FINANCIAL & COMMUNITY
$9,141 / yr property tax
Bronx County
See More Details
Location
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Ad Statistics
Ad Number
7818793
Viewed
43 times
Listing Status
Active
Added
Jul 04, 2026
Last Refresh
Jul 24, 2026 04:01:17 PM
Listing Information
Data Source
OneKey MLS
Source Property ID
968735
Listing Agent: Herminia Florimon 347-963-8373
Broker: Keller Williams Realty NYC Group 718-697-6800 Listing Site
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Broker: Keller Williams Realty NYC Group 718-697-6800 Listing Site
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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