A/O. Gigantic investment opportunity for all investors and developers, just a few minutes across the bridge from Manhattan in University Heights of the Bronx, New York. This huge fully renovated 4 family property with 2 units in the walkout basement, presently consists of a total of 10 large bedrooms plus a huge finished basement. The property consists of a large 2 bedroom and 2 bedroom apartments on the 1st floor, and also a large 2 (three) bedroom apartments on the 2nd floor. The huge full walkout basement, (ground level) that consists of a large 2 and 3 bedroom apartments respectively with 2 full bathrooms makes it possible for this property to be very easily convertible to a 6 family home because the zoning is R7 and it accommodates that. The property consists of 2 hot water tanks, a large boiler and 4 electric and 2 gas meters and runs on natural gas. NOI is $89,885 yearly, tax is $3,615 (very low), operating expenses are $11,500 and Cap rate is 10%.Seller will deliver property with an approved plan for a 4 family with finished basement. This is a diamond... Hurry!!! Seeing is believing!
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