Multi Family, 446 E 149TH Street #, Mott Haven-Port Morris - Real Estate Brooklyn

Description

446 East 149th Street presents a compelling opportunity to acquire a modern mixed-use asset in a vibrant, transit-rich section of the Bronx, offering both in-place income and meaningful upside.

Built in 2010, this six-story elevator building spans 12,539 SF and includes 10 residential units and a ground-floor commercial space. Currently, 8 units are leased, providing stable cash flow, with additional upside through leasing the two vacant apartments. Each apartment is configured as a 4-room, 2-bedroom, 1-bath unit.

The commercial space generates over $11,000/month and features basement storage and four walk-in refrigerators. The tenant also contributes 25% of the property's real estate taxes, helping to offset operating costs.

The 421a tax abatement expired in January 2026. As residential leases turn over, units can be repositioned to market rents, creating a clear path for income growth and long-term appreciation.

Apartments offer private balconies, hardwood floors, air conditioning, and wheelchair accessibility. The building is equipped with an elevator, on-site laundry, and basement storage. Individually metered utilities, where tenants pay for gas cooking and electric hot water, help maintain efficient operations.

Additional income potential exists through four storage units (approximately 8'x10'), currently owner-occupied, which could generate an estimated $2,400-$2,800 per month.

Located within an Opportunity Zone, this is a well-maintained, income-producing property with lease-up potential and strong long-term fundamentals.

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