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Offering Summary
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.
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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.
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Disclaimers
The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
