Four-Family Residential Income
721 E 242nd St The Bronx, NY 10470
721 E 242nd St The, Bronx, NY, 10470
$1,350,000
For Sale
$1,350,000
Four-unit multifamily building in Wakefield with substantial living space and access to transit, shops, and major roadways.
Property Size3,400 SF
Price / SF$397.06
Days on Market22
Property Features for 721 E 242nd St The
General Information
- Standard status
- Active
- Size
- 3,400 SF
- Property subtype
- Investment
Building Details
- Year Built
- 1931
Listing agency
Keller Williams Realty NYC Group
(347) 205-1056
Listed by
Onyinyechi Ekpecham · License #10401248140
(347) 205-1056
Source
Elliman
Added: Jul 1 Updated: Jul 10 at 2:11PM Checked: Jul 21 at 8:57AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty NYC Group
Investment Insights
Based on property information with market context.
721 E. 242nd St in The Bronx is a four-family residential income property comprising over 3,400 square feet of living space. The building is configured to support four separate residential units, providing an owner with a multi-tenant structure within a single asset.
Set on a quiet residential block in Wakefield, the property is described as being near Metro-North, subway lines, and major roadways. Additional nearby conveniences mentioned include local shops, dining, and schools. Transit-related walk and bike metrics are provided as walkScore 74 (Very Walkable), bikeScore 53 (Bikeable), and transitScore 66 (Good Transit).
This offering may fit investors or buyers seeking a four-unit multifamily building in a well-served area with established neighborhood amenities. With a single building housing four residents, it supports a straightforward ownership model for those looking to manage or operate residential income property while maintaining convenient access to public transit and everyday destinations.
Set on a quiet residential block in Wakefield, the property is described as being near Metro-North, subway lines, and major roadways. Additional nearby conveniences mentioned include local shops, dining, and schools. Transit-related walk and bike metrics are provided as walkScore 74 (Very Walkable), bikeScore 53 (Bikeable), and transitScore 66 (Good Transit).
This offering may fit investors or buyers seeking a four-unit multifamily building in a well-served area with established neighborhood amenities. With a single building housing four residents, it supports a straightforward ownership model for those looking to manage or operate residential income property while maintaining convenient access to public transit and everyday destinations.
Key Highlights
- Four‑family multifamily building at 721 E. 242nd Street in Wakefield
- Built in 1931
- Over 3,400 sq ft of living space
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $130.6k | $38.40 |
| − Vacancy | −$7.2k | −$2.11 |
| EGI | $123.4k | $36.29 |
| − OpEx | −$37.0k | −$10.89 |
| NOI | $86.4k | $25.40 |
3,400 SF · lease $38.40/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.23M
$1.08M – $1.44M
NOI $86,365 @ 7.0% cap · market cap 6.40%
Second Best
Apartment 5plus
$1.12M
$977.7K – $1.30M
NOI $78,212 @ 7.0% cap · market cap 5.79%
Theoretical Best
Warehouse
$2.36M
$2.06M – $2.75M
NOI $164,917 @ 7.0% cap · market cap 12.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four-unit multifamily building in Wakefield with substantial living space and access to transit, shops, and major roadways.
Where is this quadplex located?
The property is located at 721 E 242nd St The Bronx, NY.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Four‑family multifamily building at 721 E. 242nd Street in Wakefield; Built in 1931; Over 3,400 sq ft of living space
