Listed by RM Friedland
$1,995,000
214 East 178th Street
Details
APN 2028100013,2028680150
Property Type Multifamily, Mixed Use
Sub Type Apartment Building
Square Footage 29,000
Units 31
Cap Rate 9.22%
NOI $183,988
Tenancy Multi
Price per SqFt $69
Year Built 1951
Buildings 2
Stories 6
Lot Size (SqFt) 7,500
Zoning R8
Multifamily | 9.22% CAP | 31 Units
Marketing description
214 East 178th Street, The Bronx - Team Lala of RM Friedland is pleased to exclusively present the opportunity to acquire this well-maintained 31-unit elevatored multifamily building, a solid income-producing asset demonstrating long-term ownership care and operational stability.
Built in 1951, this six-story, all-brick, semi-fireproof property totals approximately 29,000 square feet and is comprised entirely of residential apartments
The building’s strong architectural character, recent exterior improvements, and art-embellished common areas reflect the owner’s ongoing commitment to upkeep and presentation, positioning it as a reliable long-term investment in one of the Bronx’s most established multifamily submarkets.
A glass and steel entranceway opens into a tiled lobby with steel and marble staircases, complemented by an intercom system and a network of security cameras for enhanced safety. The property features a well-maintained passenger elevator, a laundry room, and a compactor room that add to tenant convenience and efficient building operations.
The roof is finished with a durable rubber membrane, and recent pointing on the parapet walls, coping stones, windowsills, and lintels further enhances the building’s masonry integrity and curb appeal.
Mechanical systems are in excellent condition, highlighted by a 2018 dual-fuel boiler and burner currently operating on gas, supported by a 5,000-gallon above-ground #2 oil tank raised for easy servicing.
The property exemplifies pride of ownership, with clean common areas, modernized systems, and attentive management visible throughout. Residents benefit from close access to public transportation, shopping, dining, healthcare, and community services, all within walking distance in this wellconnected Bronx location.
Investment highlights
Listing Contacts
Listed by RM Friedland
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$183,988.00
$15,332.33/mo
Valuation Metrics
0
DSCR
9.22%
Cap Rate
9.22%
ROI
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