New York, NY 10466

Property

Ownership: For Sale
Type: Unknown
Bedrooms: 11 BR
Bathrooms: 6
Lot Size: 0.1 Acres

Financials

Price:$1,199,000
Annual Taxes:$10,516.12
505 Park Ave, New York, NY 10022
Listing Courtesy of Realmart Realty LLC

Exceptional Investment Opportunity Legal 3 Family Property in the Bronx Rare opportunity to own a legal 3 family income producing property in the Bronx, offering strong current rental income, flexible ...

Description

Exceptional Investment Opportunity – Legal 3-Family Property in the Bronx Rare opportunity to own a legal 3-family income-producing property in the Bronx, offering strong current rental income, flexible living space, and significant potential for future rental growth. Property Configuration 1st Floor + Basement 2-bedroom / 2-bathroom apartment Current rent: $2,600/month Finished basement providing big additional flexible space 2nd Floor 3-bedroom / 2-bathroom apartment Current rent: $2,600/month 3rd Floor 3-bedroom / 2-bathroom apartment Current rent: $2,600/month Property Taxes: $10,486/year Insurance: $3,730/year Total Property Tax & Insurance: $14,216/year Below-Market Rents: Current rents are below estimated market levels, providing meaningful potential for future rental growth Tenants pay their own heat and gas Property Highlights Legal 3-Family Property Approximately 3,471 SF 3 units / 8 bedrooms / 6 bathrooms Three full residential floors Flexible 2-bedroom and 3-bedroom layouts Finished basement with additional flexible space Strong current rental income with significant potential for rent increases Relatively low property taxes and insurance expenses Excellent opportunity for investors seeking current cash flow and future rental upside

Amenities

  • Cable - Available
  • Electricity Available
  • First Floor Bedroom
  • First Floor Full Bath
  • Natural Gas Available

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.