Property

Ownership: For Sale
Type: Multi-Family
Pets: Pets No
Lot Size: 0.05 Acres

Financials

Price:$1,249,999
Annual Taxes:$18,613
505 Park Ave, New York, NY 10022
Listing Courtesy of Coldwell Banker American Homes

Description

INCREDIBLE BUY & HOLD OPPORTUNITY IN VAN NEST! This solid brick building offers 6 TOTAL UNITS that can generate additional income. Also includes an extra basement studio for additional space! Some units have been recently renovated with modern finishes, leaving only minor touch-ups needed to fully maximize rents. The property is loaded with UPSIDE POTENTIAL: city has significantly increased the assessed value this year, reflecting the area’s growing demand. While there are current violations, savvy investors know these can be cleared with a straightforward dismissal request — don’t let that scare you away from serious CASH FLOW. Ideally situated near Pelham Parkway, the Bronx Zoo, and multiple transit options, this is a perfect long-term hold in a rapidly appreciating neighborhood. Secure this income-producing asset today and ride the wave of Bronx growth!

Amenities

  • Natural Gas Available
  • Water Available

INCREDIBLE BUY amp ; HOLD OPPORTUNITY IN VAN NEST !


Long Island MLS

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.