591 Van Nest Avenue, Bronx, NY 10460
Bronx County
Key Facts
Description
DISTRESSED VALUE-ADD OPPORTUNITY – CASH BUYERS & EXPERIENCED INVESTORS ONLY. Six-unit brick rent-stabilized building in the Van Nest section of the Bronx offered at a price reflecting its current condition and operational challenges. The property currently generates approximately $8,200 per month in rental income with one apartment presently under a vacate order which is close getting lifted this upcoming week. Several units are rented below legal regulated rents, presenting long-term repositioning potential for investors experienced with New York City's rent stabilization system. The current owner has made substantial investments into the property despite its challenges. Approximately 23 of the 36 cited violations have been addressed and are currently awaiting HPD inspection and official clearance. In addition, the apartment subject to the vacate order has been completely gutted and extensively renovated, offering a virtually brand-new interior once the remaining requirements are satisfied. The building currently has open HPD/DOB violations and is being sold AS IS. Sellers are prepared to provide available documentation, including the current rent roll, income and expense information, violation reports, and details of completed improvements to qualified buyers. This is an opportunity for an experienced operator looking to acquire a well-located multifamily asset at a significant discount while benefiting from the significant rehabilitation work already completed by the current owner. Conveniently located near Pelham Parkway, public transportation, shopping, and major highways. Serious inquiries only. Cash buyers or purchasers with financing suitable for distressed multifamily assets are encouraged.
Property Information
Property Type
Residential Income
Sub-Type
Quadruplex
Year Built
1908
Living Area
5,700 sq ft
Lot Size
0.05 acres
Days on Market
15
MLS® Listing#
1019151
Property Features
- Interior:
- Other
- Cooling:
- Wall/Window Unit(s)
- Heating:
- Natural Gas, Other
- Basement:
- Walk-Out Access
- Parking:
- On Street
- Construction:
- Brick
- Utilities:
- Natural Gas Available, Electricity Available, Water Available
- Sewer:
- Public Sewer
- Water Source:
- Public
Schools
- Elementary:
- Ps/Ms 498 Van Nest Academy
- Middle:
- Jhs 127 Castle Hill (The)
- High:
- Bronx Academy Of Health Careers
HOA & Tax
- Annual Tax:
- $18,618
- Assessed Value:
- $742,050
- Parcel #:
- 04021-0029
Affordability Calculator
$170,000
Estimated monthly payment
$4,524/mo
Principal $679,999 · Est. interest $948,659 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Bronx, NY
- $576,699
- Median Listing Price
- 70
- Median Days on Market
- 1,206
- Median Sq Ft
- $376
- Median Price / Sq Ft
- 1,266
- Active Listings
- This home’s price is 47% above the area median.
- Its price per sq ft is 60% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Bronx, NY.
Location
- 591 Van Nest Avenue, Bronx, NY 10460
Nearby Schools
The Steam Bridge School
Elementary · 0.2 mi away
Archer Elementary School
Elementary · 0.3 mi away
Bronx Charter School for Excellence 2
Elementary · 0.3 mi away
Bronx Little School
Elementary · 0.3 mi away
PS 536
Elementary · 0.3 mi away
Wings Academy
School · 0.4 mi away
Hailey's Playhouse Daycare
School · 0.5 mi away
Icahn Charter School 2
Elementary · 0.6 mi away
P. S 083 Donald Hertz
Secondary · 0.7 mi away
PS 214
Elementary · 0.7 mi away
Emolior Academy
School · 0.7 mi away
Bronx High School for the Visual Arts
Secondary · 0.7 mi away
P. S. 47 John Randolph
Elementary · 0.7 mi away
PS 83
Elementary · 0.7 mi away
PS 105 Sen Abraham Bernstein
Elementary · 0.7 mi away
PS 006
Elementary · 0.7 mi away
The Vida Bogart School for All Children
Elementary · 0.7 mi away
Spanish Eastern School of Theology
School · 0.8 mi away
Bronx Charter School for Excellence
Elementary · 0.8 mi away
St. Raymond Academy for Girls
School · 0.8 mi away
Commute Calculator
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Listing Courtesy: Coldwell Banker American Homes - 7182061340
Presented by: Amer F. Alsaidy
Fair Housing Notice