BEDS0
BATHS
MLS#1019151
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SCHOOLBronx 11
Property Description
VALUE-ADD SIX-UNIT RENT-STABILIZED MULTIFAMILY INVESTMENT OPPORTUNITYSix-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.
Property Features
Property Type: Multi Unit - Multiple
Basement: Walk-Out Access
Basement: Yes
Cooling: Wall/Window Unit(s)
Heating: Natural Gas, Other
Lot Size: 0.05 Acres
Taxes: $18,618
Year Built: 1908
Amenities
Other
Feature Descriptions
Building Area Total: 5700
Days on Site: 27
Exterior: Brick
On Market Date: 2026-06-26
Parcel Number: 04021-0029
Parking Features: On Street
Property Attached Y/N: 1
Rental Term: Monthly
Seller Concession: Yes
Sewer: Public Sewer
Units: 6
Utilities: Electricity Available, Natural Gas Available, Water Available
Water: Public
Local Schools
High School: Bronx Academy Of Health Careers
Middle School: Jhs 127 Castle Hill (The)
Elementary School: Ps/Ms 498 Van Nest Academy
School District: Bronx 11
Estimate Your Payment
Estimated Payment
$ 6,097.48 per month $4,298.06 Principal & Interest $1,551.50 Property Tax $247.92 Homeowner's InsuranceChange Payment Information
Listed By / Shown By
Listing By
Agency Name: Coldwell Banker American Homes
Shown By
Agent Name: Ardith Evans
Agent Phone: Cell: (631) 766-5596
591 Van Nest Avenue | MLS# 1019151
This multi-family property located at 591 Van Nest Avenue, Bronx, NY 10460 is currently listed for sale by Coldwell Banker American Homes, with an asking price of $849,999. Van Nest Avenue is located within the Bronx 11 school district. Search Bronx real estate on ardithevans.cbamhomes.com today.