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    855 217Th St Bronx, NY 10467

    For Sale
    $6,495,000

    30-Unit Elevator Building, High NOI

    Property size:
    31,914 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional 30-unit multifamily property, located at 855 E 217th St in the Bronx, NY 10467, presents a compelling investment opportunity. Built in 2006, this six-story elevator building boasts 31,914 square feet and sits on an 11,456 square foot lot. The property features a mix of unit sizes: six one-bedroom, nineteen two-bedroom, and five three-bedroom apartments, many with private terraces or duplex layouts. A significant advantage is the 15-year 421a tax abatement, commencing in 2010. Residents enjoy a convenient on-site recreation center and a private 15-space parking lot. The building's strong financial performance is highlighted by a Net Operating Income (NOI) of $465,488, resulting in a 7.17% cap rate. The asking price is $6,495,000, translating to $216,500 per unit. Situated in the Williams Bridge section of the Bronx, the property benefits from its proximity to the White Plains Road retail corridor, offering easy access to public transportation (2/5 trains) and numerous retail amenities including Domino's, Walgreens, Dollar Tree, Rite Aid, and Cherry Valley Marketplace. Individual gas and electric meters are installed in each apartment. This well-maintained building offers a rare opportunity to acquire a substantial multifamily asset at approximately 50% of replacement cost. The R5 zoning designation further enhances its long-term potential.

    Property Features for 855 217Th St

    General Information

    Property type
    Multifamily properties
    Square Feet
    31,914 SF

    Building Details

    Year Built
    2006
    Stories
    6
    Units
    30

    HighLights

    • 30‑unit multifamily building in the Bronx, NY.
    • 15‑space private parking lot.
    • Mix of large one-, two-, and three‑bedroom apartments.
    • 2006 construction, offered at approximately 50% of replacement cost.
    • $465,488 Net Operating Income (NOI).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bronx
    County
    Bronx
    State
    New York
    Longitude
    -73.8585842
    Latitude
    40.880779

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    FAQs

    What type of property is this?
    Multifamily property - 30-Unit Elevator Building, High NOI
    Where is this multifamily property located?
    The property is located at 855 217Th St Bronx, NY.
    What is the asking price?
    The asking price for this property is $6,495,000.
    What are key features of this property?
    This property features: 30-unit multifamily building in the Bronx, NY.; 15-space private parking lot.; Mix of large one-, two-, and three-bedroom apartments.
    Request Owner's contact information
    855 217Th St Bronx, NY 10467
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    Bronx, NY 10467
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    855 217Th St Bronx, NY 10467
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