Bronx (Wakefield), NY, 10466 | $649,500

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.

Features