854 E 229th Street, Bronx, NY 10466

• 9 beds |
• 3 baths |
• 3,366 sqft

Property Description

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.

Listing Status:

Active

Data Last Updated:

August 10, 2026 at 8:22PM

Listing Office:

Keller Williams Realty NYC Grp : 718-697-6800

MLS ID:

968735

Interior

• General: High Ceilings
• A/C: None
• Heating: Natural Gas

Exterior

• Parking: Driveway

Location

• Originating MLS: onekey2
• County: Bronx County

Lot

• Zoning: 04853-0083

Utilities

• Utilities: Electricity Connected
• Water: Public
• Sewer: Public Sewer

Financial

• Source: onekey2