501 East 234th Street Bronx, NY 10470

Building Details

Year Built

1928

Listing office Lafayette Realty Partners

Listing date May 9, 2026

Source Crexi

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 Lafayette Realty Partners

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Investment Insights

Based on property information with market context.

Located in the Woodlawn Heights neighborhood of the Bronx, 501 East 234th Street is a 43-unit rent-stabilized multifamily building. The property is 97.7% occupied, with one immediately leasable vacancy. The unit mix consists of 32 one-bedroom apartments, averaging $1,298 per month, and 11 two-bedroom apartments, averaging $1,638 per month. The building generates $701,351 in effective gross income. The location provides approximately 30-minute access to Midtown Manhattan and is near Metro-North (Woodlawn Station), the #4 subway, and Van Cortlandt Park. The property is suited for a 1031 exchange buyer, family office, or private investor seeking stable Bronx cash flow.

Key Highlights

• 5.37% cap rate on $402,399 NOI (excluding property tax) at the asking price.
• Significant mark‑to‑market upside potential within the rent‑stabilization framework.
• Discounted cash flow analysis indicates approximately 45% upside to the asking price.

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FAQs

What type of property is this?

Apartment building - 43-unit rent-stabilized building in Woodlawn Heights neighborhood.

Where is this apartment building located?

The property is located at 501 East 234th Street Bronx, NY.

What is the asking price?

The asking price for this property is $7,500,000.

What are key features of this property?

This property features: 5.37% cap rate on $402,399 NOI (excluding property tax) at the asking price.; Significant mark‑to‑market upside potential within the rent‑stabilization framework.; Discounted cash flow analysis indicates approximately 45% upside to the asking price.