Calling investors! Cash buyers! Financing with renovation loan possible !

8.42% Potential Cap Rate!

PLEASE READ CAREFULLY FOR SHOWING INSTRUCTIONS AND MORE

Any serious offer will be answered!
Book your appointment today. Showings during open house ONLY as some units are occupied.

There are approved plans filed with the NYC Department of Buildings to change this existing SRO into a two-family home. You have the choice to keep it as an SRO or finish the process with the DOB .

This 3 unit house, located in the heart of Longwood in the Bronx is a unique opportunity.This property has 2800 sq ft of living space and an additional 4000 sq ft of air rights ! Think expansion !
Remodeled in 2010, it hosts 3 full floor residences.

The first floor is a 2 bedroom 2 bath with one en-suite full bathroom in the primary bedroom. The kitchen has granite countertops , gas stove top and is fitted for a dishwasher and a washer/dryer combo. The apartment has a large double living/dining room. A large primary bedroom can easily accommodate a king size bed and other furnishings. It has a large walk-in closet and en-suite bath. There is a secondary bedroom with closet space and a shared second bathroom. The unit is currently occupied by a tenant who is on a month to month basis.

The second floor is currently rented as separate rooms but is built/designed as a 3 bedrooms 2 bathroom unit. It can be attached to the upper unit to create a duplex - the permits to change this SRO to an 2 family home are open and only require the new owner to do the inspections and necessary paperwork. There is a primary bedroom with en-suite bathroom ( currently vacant) and 3 rented bedrooms. The second bathroom is shared. All occupants are on a month to month basis.

The third and top floor is a one bedroom unit with full kitchen and one bathroom. It is currently vacant. The kitchen needs cosmetic upgrades ; it could be open to living room.

( pictures featuring furniture are virtually staged)

This property also offers a gated driveway and 400 sq ft detached double garage in the back with a patio. There is a total of 1200 sq ft of outdoor space.The finished basement can be used for storage / office space and hosts the mechanical. It has a separate entrance.

Each apartment is individually metered for ConEd. Security cameras are already installed and the building is connected to Optimum.Sold "AS IS"

The house is conveniently located close to the Prospect Avenue 2/5 train station and you can catch the Bx6 bus on the nearest corner. Rite Aid, Dunkin' and Subway are a block away as well as local businesses, shops and eateries. There is a supermarket next door for daily needs. Please contact me today for this great opportunity.