257 E 238th Street presents the rare opportunity to acquire a cash-flowing multifamily investment in the North Bronx, one of the nation’s tightest rental markets. The professionally maintained building contains five apartment units plus an additional unit that can serve as storage or a superintendent’s space, creating operational flexibility for ownership. Built in 1927 and free of rent control restrictions, the property allows investors to avoid limitations often associated with older housing stock in the market. A two-car garage situated behind the building and accessed via a side driveway provides an additional amenity that is uncommon among comparable urban multifamily assets. The property’s location supports long-term rental demand through convenient access to major transportation routes, including the Bronx River Parkway and Interstate 87. Residents are within walking distance of retail, dining, and everyday services along the Katonah Avenue corridor, while the 233 Street and Nereid Avenue subway stations are both located within 1 mile of the property, providing connectivity throughout the Bronx and into Manhattan. Market fundamentals further reinforce the investment thesis. The 1-mile trade area features an average household income exceeding $92,000, while approximately 72% of nearby households are renter occupied, creating a substantial tenant base for quality rental housing. The surrounding multifamily submarket reports an exceptionally low 0.6% vacancy rate and has seen no new inventory delivered since 2024, underscoring the scarcity of available housing units. Rents in the area significantly exceed the Bronx average and rank among the top 30% of submarkets in the metro, supporting the property’s appeal to investors seeking dependable cash flow in a supply-constrained market. Reach out to John Della today to schedule a tour and learn additional information. All prospects must show Proof of Funds prior to inspection. Apartments: 1A- one bedroom- $1,850.00 2A- two bedroom- $2,200.00 2B- one bedroom- $1,900.00 3A- two bedroom- $2,300.00 3B- one bedroom- $2,000.00 Storage Area/Super- $1,400 Detached two car garage- 2 spaces ($250 ea.)- $500 TOTAL Monthly- $12,150.00 Expenses: RE taxes- $24,015.40 water/sewer- $5,741.58 gas/electric- $11,500.00 Insurance- $18,368.69