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591 Van Nest Avenue

Bronx, NY 10460
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$874,999 $3,689/Mo
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Bed --

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Bath 0

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Acres0.05

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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 officia l 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.

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Detail Ic Property Details

Property Type : Residential Income

Price : $874,999

AD Id : 86587710

MLS Id : 1019151

Lot Size : 0.05 Acre

Year Built : 1908

County : Bronx

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Feature Features

  • Room Information

    Basement: Walk-Out Access

  • Interior Features

    Other

  • Heating & Cooling

    Has Heating: Yes Heating: Natural Gas, Other Has Cooling: Yes Cooling: Wall/Window Unit(s)

  • Building Information

    Year Built: 1908 Building Area Total: 5700 Construction Materials: Brick Private Pool: No

  • Lot Information

    Lot Size Acres: 0.0545 Lot Size Square Feet: 2375

  • Listing Price Information

    Listing Price: $874999

  • Tax Information

    Parcel Number: 04021-0029 Annual Tax: $18618.16

  • Parking Information

    On Street

  • School Information

    Elementary School: Ps/Ms 498 Van Nest Academy
    Junior High School: Jhs 127 Castle Hill (The)
    Senior High School: Bronx Academy Of Health Careers

  • Utility Information

    Natural Gas Available, Electricity Available, Water Available

  • Location Information

    WaterSource: Public
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628 Mead Street, Bronx, NY, 10460 $1,100,000 7 4 --
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1129 E Tremont Avenue, Bronx, NY, 10460 $524,900 4 2 --

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The data relating to real estate for sale on this website comes in part from the Internet Data exchange of OneKey MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright © 2026 OneKey MLS. All Rights Reserved

ByOwner last updated this listing 07/01/2026 @ 23:26

MLS: 1019151 LISTED BY: Amer Alsaidy, Coldwell Banker American Homes 718-206-1340 SOURCE: OneKey MLS

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