$1,800,000

4790 Barnes Ave, a 4,356 sq. ft. five-family building on a 50' x 116' corner lot (5,800 sq. ft.) in Wakefield, Bronx. The building has four two-bedroom/one-bath units and one one-bedroom/one-bath unit. It is fully occupied, so a buyer gets income from day one. Zoned R4, the property is a Qualifying Residential Site (QRS) with about 4,350 buildable sq. ft. of unused air rights. That gives an investor the option to keep an income-producing multifamily asset, and use the extra development rights for an alteration adding an additional 6 residential units. The property is just 840 ft. from the Wakefield-241st Street station (2 train). It is also close to the Wakefield Metro-North station (Harlem Line), several local and Westchester bus routes, the Bronx River Parkway, and I-95. Nearby, the White Plains Road retail corridor serves the neighborhood, and the Mount Vernon/Westchester border is minutes away. With strong transit access and steady rental demand, Wakefield remains a sought-after submarket for multifamily investors.