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About the Listing EXPRLT - 24626
50-Unit Bronx Portfolio | 16 Years Article XI | $7.98M @ 3.32% Assignable Financing — Exceptional opportunity to acquire a 50-unit multifamily portfolio consisting of five contiguous buildings located at 753, 755, 757, 759 & 761 E 214th Street in the Wakefield section of the Bronx. This income-producing package offers strong in-place cash flow, significant financing advantages, and long-term tax benefits rarely available in today's marketplace. The portfolio generates approximately $859,708 in annual gross income and is being offered at $8,995,000 ($179,900 per unit). Investors will benefit from an assignable mortgage balance of approximately $7,981,280 at an attractive fixed interest rate of 3.32% through August 30, 2031 (subject to lender approval), creating a substantial financing advantage compared to current market rates. The property also benefits from approximately 16 years remaining on an Article XI tax abatement, resulting in exceptionally low real estate taxes and enhanced cash flow. Current estimated NOI is approximately $578,648 with additional upside through lease-up of existing vacant units and operational efficiencies. Property Highlights: • Five contiguous multifamily buildings • Approximately 50 residential units • Strong in-place cash flow • Gross Annual Income: $859,708 • Estimated NOI: $578,648 • 6.43% In-Place Cap Rate • Approx. $179,900 per unit • Assignable $7.98M mortgage at 3.32% fixed through 8/30/2031 • Approximately 16 years remaining on Article XI tax abatement • Extremely low real estate taxes • Multiple vacant units providing immediate upside potential • Conveniently located near public transportation, shopping, schools, and major Bronx thoroughfares This is a rare opportunity for investors, operators, 1031 exchange buyers, affordable housing groups, and multifamily portfolio owners seeking scale, strong cash flow, favorable financing, and long-term appreciation potential. Financial package, rent roll, floor plans, and due diligence materials available upon request.
Listing Highlights
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond: Wall/Window Unit(s)
- Heating: Natural Gas
- Fireplaces:
- Floor:
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- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: No Waterfront
- Garage Capacity: N/A
- Roof:
- Others:
- Sewer: Public Sewer
- Parking Features: On Street
Financial Details
- Tax Amount: $4,318
- Taxes w/Assessments: N/A
- Tax/Property ID: 04662-0081
- Tax Year: N/A
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Monthly Payment
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Questions About..
753 , 755, 757, 759, 761 E 214th St Bronx, NY 10467
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