REO Sale: Bronx, NY | 7 Unit Multifamily

Highlights:

• All Seven Units Rent-Stabilized in Wakefield: Every unit is rent-stabilized on an R5-zoned lot at Block 4848, Lot 40, assessed in Tax Class 2B.
• Two Vacant Units Positioned for Lease-Up: Units 1B and 2R carry last legal rents of $3,255 and $3,048, well above the occupied-unit average.
• Preferential Rents Below Legal Rent Levels: Units 1F and 1R are leased below legal rent, a gap of about $28,865 in annual residential income.
• Bx8 and BxM11 Bus Stops Within 0.3 Miles: Bx8 stops at E 226th St and Bronxwood Ave, with the BxM11 at White Plains Rd and E 219th St.
• Six-Minute Walk to the 225th Street Station: The 2 and 5 lines offer subway rides to Times Square of roughly 45 minutes for Manhattan commuters.
• Wakefield Location Near Montefiore Campus: Montefiore Medical Center's Wakefield Campus and the White Plains Road retail corridor are nearby.

Description:

View details and diligence materials on RI Marketplace:
https://rimarketplace.com/auction/3471/multifamily/the-bronx/ny?utm_source=brevitas&utm_medium=free_listing&utm_campaign=december16_2026&utm_content=multifamily_3471

Brokered by Marcus & Millichap and powered by RealINSIGHT Marketplace, 3942 Barnes Avenue is a seven-unit, 100% rent-stabilized residential building in the Wakefield neighborhood of the Bronx. The 5,451-square-foot property sits on an R5-zoned lot (Block 4848, Lot 40) in Tax Class 2B, with a rent roll totaling $175,477 in annual residential income at current and last legal rents. The clearest path to added value is lease-up: Units 1B and 2R are vacant, with last legal rents of $3,255 and $3,048 per month, well above the $1,664 average of the five occupied units. Two of those occupied units, 1F and 1R, are leased at preferential rents below their legal levels, a gap of approximately $28,865 in annual income. The remaining three units are leased at $1,057 to $1,784 per month, providing a regulated income base beneath the upside. The property is approximately 0.2 miles from the 225th Street station on the 2 and 5 subway lines, with rides to Times Square of roughly 45 minutes, and sits near the White Plains Road retail corridor, Montefiore Medical Center’s Wakefield Campus, and Metro-North commuter rail service.

Location
3942 Barnes Avenue is in Wakefield, near the White Plains Road retail corridor in the Bronx. The 225th Street station on the 2 and 5 subway lines is a six-minute walk, with rides to Times Square of roughly 45 minutes. Montefiore Medical Center’s Wakefield Campus and the Woodlawn Metro-North station sit nearby, supporting renter demand from healthcare workers and Manhattan commuters.


Bidding Opens
Dec 15 1:00 AM
Bidding Closes
Dec 17 1:00 AM

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