Property
| Ownership: | For Sale |
|---|---|
| Type: | Multi-Family |
| Lot Size: | 0.1 Acres |
Financials
Listing Courtesy of Coldwell Banker American Homes
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 ...
Description
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
- Electricity Available
- Natural Gas Available
- Water Available

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.