185 E 205th Street

Description

Introducing 185 E 205th Street, a fully renovated five-unit multifamily building in the heart of the Bronx, offering a strong rent roll and long-term upside. Spanning approximately 3,200 square feet, the building includes three 2-bedroom units and two 1-bedroom units, all updated with modern finishes and fully leased to reliable tenants. The property is generating $12,500 per month in rental income, with all tenants on annual leases — most of which are CityFHEPS voucher holders, providing guaranteed rent payments from city subsidies. This makes 185 E 205th a low-maintenance, high-yield investment from day one. The building features a finished basement, backyard, and outdoor space, adding further flexibility for storage, recreation, or potential future use. Zoned R8, the site allows for a significant development opportunity — with the ability to build over 15,000 square feet, subject to zoning and FAR allowances. Whether you're looking for a stable income-producing asset or a future ground-up development, this property checks all the boxes. Located just off the Grand Concourse in the desirable Bedford Park section of the Bronx, the property offers excellent access to B/D/4 trains, multiple bus lines, Montefiore Medical Center, Lehman College, parks, and local retail — making it a convenient and in-demand rental area for working families.