Description

Welcome to 823 E 214th Street, a brick two-family townhouse in the Williamsbridge neighborhood of the Bronx. This two-family house was built in 1960 and has been occupied by the same family for over 2 decades. It is legally certified as a two-family property. The first floor will be delivered vacant and features a spacious 2-bedroom/1-bathroom unit with ample closet space. The second-floor unit has a 3-bedroom/1-bathroom layout and is currently occupied by a tenant. The current tenant is paying below market value and does not have a lease. The large basement has the potential to be combined with the first-floor unit to create an owner's duplex with access to the rear yard, or it could possibly be converted for another use. Conveniently located, this low-rise attached townhouse offers an excellent opportunity for both homeowners and investors. This investment property is perfect for an investor seeking to establish a cash-flowing property in a burgeoning Bronx neighborhood, or for a first-time investor aiming to benefit from having a tenant help cover some expenses, with an approximate proforma of a 7% cap rate. Listing courtesy of Compass