Listed by Marcus & Millichap - Manhattan
$2,600,000
253 East 206th Street
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 6,692
Units 10
Cap Rate 5.30%
NOI $137,800
Occupancy 60%
Tenancy Multi
Pro-Forma Cap Rate 8.60%
Price per SqFt $389
Class B
Year Built 2019
Buildings 1
Zoning R7B
Investment Type Value Add
Multifamily | 5.30% CAP | 10 Units
Marketing description
253 East 206th Street is a 100% free market asset, built without any tax abatement. The building was issued its final certificate of occupancy in 2019. This 10 unit walk-up is composed of 3 studios, 5 one-bedrooms, and 2 two-bedrooms. There are currently 2 vacant units. Current rents are 30% below market, presenting an opportunity for significant upside through turnover or Section 8 / City Program Vouchers. The average rent is $1,944 per apartment per month.
This building is just steps from Montefiore Hospital, Bronx Park, Fordham University, The New York Botanical Garden, and the Norwood Subway Station. 253 East 206th Street is a tax class 2B asset, with tax liability capped at 8% per year or 30% over 5 years.
Investment highlights
- 100% Free Market | 2019 Construction - 253 East 206th Street is a 100% free market asset, built without any tax abatement. The building was issued its final certificate of occupancy in 2019.
- Value-Add - Current rents are 30% below market, presenting an opportunity for significant upside through turnover or Section 8 / City Program Vouchers. The average rent is $1,944 per apartment per month.
- The Building - This 10 unit walk-up is composed of 3 studios, 5 one-bedrooms, and 2 two-bedrooms. There are currently 2 vacant units.
- Prime Location - This building is just steps from Montefiore Hospital, Bronx Park, Fordham University, The New York Botanical Garden, and the Norwood Subway Station.
- Tax Class Protected - 253 East 206th Street is a tax class 2B asset, with tax liability capped at 8% per year or 30% over 5 years.
Listing Contacts
Listed by Marcus & Millichap - Manhattan
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$137,800.00
$11,483.33/mo
Valuation Metrics
0
DSCR
5.3%
Cap Rate
5.3%
ROI
Map
Zoning
R7B ResidentialMulti FamilyGeneral Residence
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View all 99 uses Last updated Jun 22, 2026 For deeper zoning details, reports are available at Zoneomics
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