New York, NY 10470

Property

Ownership: For Sale
Type: Duplex
Bedrooms: 4 BR
Lot Size: 0.1 Acres

Financials

Price:$899,000
Annual Taxes:$5,303.24
505 Park Ave, New York, NY 10022
Listing Courtesy of Keller Williams Realty Group

Exceptional opportunity to own a detached legal 2 family income producing property situated on an oversized R4A lot in the highly sought after Wakefield section of the Bronx.

Description

Exceptional opportunity to own a detached legal 2-family income-producing property situated on an oversized R4A lot in the highly sought-after Wakefield section of the Bronx. Combining strong rental income, private parking, valuable land opportunity, and future upside, this property presents a rare investment opportunity in one of the Bronx’s most consistently high-demand rental markets. The home is currently configured with two spacious 2-bedroom, 1-bath apartments with established program tenants in place generating stable income, plus a finished walk-out basement featuring an additional 1-bedroom, 1-bath layout offering flexible bonus living space. Property is being sold occupied, making this an ideal turnkey hold opportunity for investors or end-users seeking immediate passive income potential. Set on an oversized lot with R4A zoning, the property offers exceptional outdoor space, private parking, and potential opportunities for future expansion, customization, or redevelopment subject to buyer’s own due diligence. Detached legal multifamily homes with land value and income potential are increasingly difficult to find in today’s Bronx market. Conveniently located near major transportation, shopping, restaurants, schools, and neighborhood amenities, this property offers both long-term appreciation potential and immediate cash-flow opportunity. Whether you are an investor expanding your portfolio, a 1031 exchange buyer, or an owner-occupant looking to offset your mortgage with rental income, this is a rare chance to secure a high-demand Bronx asset with multiple layers of value. No known DOB or HPD violations. Sold as-is and delivered occupied. Serious buyers and investors only.

Amenities

  • Electricity Connected
  • First Floor Bedroom
  • Natural Gas Connected

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.