Presented by CS Realty Request Showing Print Listing
Multi Family 5+ in Bronx County
MLS Number1019151
Address591 Van Nest Avenue, Bronx, NY 10460 show map
Price$849,999 show mortgage calculator
Acres0.054522497704316
Year Built1908
Est. Sq. Footage0
Elementary SchoolPs/Ms 498 Van Nest Academy
Jr High-Middle SchoolJhs 127 Castle Hill (The)
High SchoolBronx Academy Of Health Careers
Estimated Taxes$18,618
Total Apt Units6
Remarks

VALUE-ADD SIX-UNIT RENT-STABILIZED MULTIFAMILY INVESTMENT OPPORTUNITY Six-unit brick multifamily building in the Van Nest section of the Bronx, currently generating approximately $8,200 per month in rental income. The property offers significant long-term upside through the correction of existing building conditions, legal rent growth, and completion of improvements already underway. The current owner has made substantial investments into the property, with approximately 23 of 36 cited violations addressed and awaiting official clearance. One apartment has been completely gutted and extensively renovated and is currently under a vacate order, with the remaining requirements nearing completion. Several apartments are currently rented below their legal regulated rents, offering potential for increased income over time for an experienced owner familiar with New York City rent stabilization regulations. The property is being offered AS IS and is best suited for an experienced multifamily investor seeking a value-add opportunity. Available documentation includes the rent roll, income and expense information, violation reports, and details of completed improvements. Serious investors are encouraged to review the property and documentation.

Amenities

This listing is Courtesy of Coldwell Banker American Homes (718-206-1340).

Request a Showing - Make an Appointment - More Information
(917) 921-4934

Please use the form below to contact us. Thank you - CS Realty & Relocation Services. "Brokers of Better Rentals & Residences since 1986."

Subject
Your Name
Email Address
Phone Number--
Preferred Showing Time
Preferred Showing Date
Question or Comment
You will be contacted by a buyer's agent who will represent you on this listing.