591 Van Nest Avenue, New York, NY, 10460
$849,999
$874,999
activeBedrooms
0
Lot Size
2,375 sqft
Year Built
1908
Type
Multi Family
Estimate. Actual payment depends on credit, lender, taxes, and insurance.
VALUE-ADD SIX-UNIT RENT-STABILIZED MULTIFAMILY INVESTMENT OPPORTUNITY Six-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.
Listed by Amer F. Alsaidy, Coldwell Banker American Homes
Listings courtesy of OneKey® MLS as distributed by MLS GRIDBased on information submitted to the MLS GRID as of Jul 23, 2026, 7:12 PM UTC (date and time MLS GRID Data was obtained). All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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