721 E 242nd St The, Bronx, NY 10470
Four-unit multifamily building in Wakefield with substantial living space and access to transit, shops, and major roadways.
- Added:
- Jul 1, 2026
- Days on Market:
- 6
- Last Refresh:
- Jul 4 at 4:08 am
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 office Keller Williams Realty NYC Group (347) 205-1056
Listing date Jul 1, 2026
Source Elliman
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All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty NYC Group
HighLights
- Four‑family multifamily building at 721 E. 242nd Street in Wakefield
- Built in 1931
- Over 3,400 sq ft of living space
- BikeScore 53 and walkScore 74 (very walkable)
- transitScore 66 with nearby Metro‑North, subway lines, and major roadways
Overview
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.
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 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Bronx
- County
- Bronx
- State
- New York
- Longitude
- -73.848378
- Latitude
- 40.905658
