Ad #7981365
MLS #11669774
Double-track value: Keep the existing cash-flowing 3-family
854E 229th St, Bronx, New York, 10466
$1,400,000
8Beds
3Baths
3,366Sqft
--Acres
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.A premier investment opportunity regarding a legal three-family brick home. 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
Property Features
8 Beds
3 Baths
3,366 Sqft
Built in 1910
0 Acres
3 Stories
Natural Gas, Baseboard
$9,141 / yr property tax
Bronx County
East Bronx Community
Additional Photos
Contact Information
Herminia Florimon
KELLER WILLIAMS REALTY NYC GROUP
Location
Listing Agent: Herminia Florimon
Broker: KELLER WILLIAMS REALTY NYC GROUP 914-346-8256 Listing Site
Copyright © 2026 My State 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 914-346-8256 Listing Site
Copyright © 2026 My State 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
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$1,400,000
8
Beds
3
Baths
3,366
Sqft
854E 229th St, Bronx, New York, 10466
By contacting this agent you agree to these Terms and Conditions.
MLS# 11669774
Double-track value: Keep the existing cash-flowing 3-family
$1,400,000
854E 229th St, Bronx, New York, 10466
8
Beds
3
Baths
3,366
Sqft
--
Acres
$1,400,000
854E 229th St, Bronx, New York, 10466
8 Beds
3 Baths
3,366 Sqft
-- 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.A premier investment opportunity regarding a legal three-family brick home. 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
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Property Details
HOME DETAILS
8 Beds
3 Baths
3,366 Sqft
Built in 1910
0 Acres
3 Stories
INTERIOR
Natural Gas, Baseboard
FINANCIAL & COMMUNITY
$9,141 / yr property tax
Bronx County
East Bronx Community
See More Details
Location
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Ad Statistics
Ad Number
7981365
Viewed
32 times
Listing Status
Active
Added
Jun 27, 2026
Last Refresh
Jul 24, 2026 04:01:17 PM
Listing Information
Data Source
My State MLS
Source Property ID
11669774
Listing Agent: Herminia Florimon
Broker: KELLER WILLIAMS REALTY NYC GROUP 914-346-8256 Listing Site
Copyright © 2026 My State 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 914-346-8256 Listing Site
Copyright © 2026 My State 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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