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Type:
Multifamily
Sq Ft:
3,360
Units:
Property Description
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.
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Block & Lot:
4019-0031
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Neighborhood:
Van Nest
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Cross Streets:
Melville & Van Buren Street
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Building Dimensions:
21 ft x 48 ft
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Lot Dimensions:
25 ft x 95 ft
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Units:
6
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Total Approx. SF:
3,360
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Zoning:
R5
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FAR:
1.5
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Tax Class:
2A
