539 Van Nest Ave - Apartments FOR SALE


Bronx, NY 10460- Van Nest
$1,500,000 USD
646-933-2615
539 Van Nest Ave, Bronx, NY for Sale
$1,500,000 USD
Apartments - FOR SALE
1/11
null | 8% Cap Rate

539 Van Nest Ave
Bronx, NY 10460
Van Nest


HIGHLIGHTS

  • Free market six family for sale, a walk-up multifamily property located in the Van Nest section of the Bronx
  • The property consists of two buildings on one lot containing a total of six apartments, comprised of three one-bedroom and three two-bedroom units
  • Currently, two apartments are vacant, providing an incoming owner with an immediate opportunity to renovate and bring the units to market rent
  • The remaining apartments offer additional upside through future turnover and continued rental growth
  • within walking distance of the East 180th Street subway station

OVERVIEW

Investment Property Realty Group (IPRG) has been exclusively retained to arrange the sale of 539 Van Nest Avenue, a walk-up multifamily property located in the Van Nest section of the Bronx. The property consists of two buildings on one lot containing a total of six apartments, comprised of three one-bedroom and three two-bedroom units. The property is fully free-market, with a letter from the New York State Division of Housing and Community Renewal (DHCR) confirming that the property does not fall under rent stabilization. Currently, two apartments are vacant, providing an incoming owner with an immediate opportunity to renovate and bring the units to market rent. The remaining apartments offer additional upside through future turnover and continued rental growth. The property is conveniently located within walking distance of the East 180th Street subway station, providing access to the 2 and 5 subway lines and convenient transportation throughout the Bronx and Manhattan.

FOR SALE DETAILS

PRICE

$1,500,000 USD

PRICE/SF

$446 USD /SF

# OF UNITS

6

PRICE/UNIT

$250,000

CAP RATE

8%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1920

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,498 SF

ZONING

R5, Bronx, (C2)

APN/PARCEL ID

04019-0031

ASK ABOUT THIS PROPERTY

Jared FriedmanInvestment Property Realty GroupMore Info
646-933-2615

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Jared FriedmanInvestment Property Realty GroupMore Info
646-933-2615

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.