New Listing - 06/26/2026
591 Van Nest Avenue, Bronx, NY, 10460
0 beds
1908
Quadruplex
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.
Status:
Active
Type:
Single-family residential
Units:
6
Heating:
Natural Gas, Other
Cooling:
Wall/Window Unit(s)
Basement:
Walk-Out Access
Parking:
On Street
Acreage:
0.05
Est. Taxes:
$18,618
Assessment
$742,050
Construction
Brick
Utilities
Electricity Available, Natural Gas Available, Water Available
Elementary School:
Ps/Ms 498 Van Nest Academy
Middle School:
Jhs 127 Castle Hill (The)
High School:
Bronx Academy Of Health Careers
School District:
Community District 11
Days on Market:
1
MLS #:
1019151
Community Info
School Info
Walk Score
Mass Transit
Yelp
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Listing courtesy of Coldwell Banker American Homes 718-206-1340