REO Sale: Bronx, NY | 7 Unit Multifamily

Starting Bid: December 16th, 2026

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.

All Seven Units Rent-Stabilized in Wakefield: Every unit is rent-stabilized on an R5-zoned lot at Block 4848, Lot 40, assessed in Tax Class 2B.

Two Vacant Units Positioned for Lease-Up: Units 1B and 2R carry last legal rents of $3,255 and $3,048, well above the occupied-unit average.

Preferential Rents Below Legal Rent Levels: Units 1F and 1R are leased below legal rent, a gap of about $28,865 in annual residential income.

Bx8 and BxM11 Bus Stops Within 0.3 Miles: Bx8 stops at E 226th St and Bronxwood Ave, with the BxM11 at White Plains Rd and E 219th St.

Starting Bid: $200,000

Auctioneer: Ralph Passono, Jr.

Auctioneer Company: c/o Fisher Auction Company Inc.

Auctioneer License: 10311203946