UPDATED:
Key Details
Property Type Multi Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Subdivision Van Nest
MLS Listing ID 1019151
Rental Info No
Year Built 1908
Annual Tax Amount $18,618
Lot Size 2,374 Sqft
Acres 0.0545
Property Sub-Type Quadruplex
Source onekey2
Property Description
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.
Location
State NY
County Bronx County
Rooms
Basement Walk-Out Access
Interior
Interior Features Other
Heating Natural Gas, Other
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Features On Street
Utilities Available Electricity Available, Natural Gas Available, Water Available
Garage false
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Schools
Elementary Schools Ps/Ms 498 Van Nest Academy
Middle Schools Jhs 127 Castle Hill (The)
High Schools Bronx 11
School District Bronx 11
Others
Senior Community No
Special Listing Condition None
NEARBY SCHOOL & BUSINESS
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Randy Reis
Team Leader | License ID: 40RE1176716
Team Leader License ID: 40RE1176716