Rare Investment Opportunity in Pelham Bay: High-Yield 4-Family Brick Gem

Property Overview

A semi-attached, legal 4-family brick house in a prime Bronx location. This is an exceptional investment opportunity with huge potential for increased rental income.

• Lot Size: 25' x 100'

• Building Size: 21' x 82'

• Total Square Footage: 5,166 sq. ft. (including basement)

The Numbers

• Current Annual Rent Roll: $80,000 (with no leases)

• Potential Annual Rent Roll: $100,000+

• Taxes: $16,293.24

• Insurance: $4,000

• Water: $5,000

• Oil: $6,000

• Common Area Electric: $2,000

Building Details

This property features three 2-bedroom apartments (no lease) and one 1-bedroom apartment (vacant), all with updated circuit breaker boxes. The building has a new roof, new skylight, and a new oil heating/hot water system (installed 3 years ago). Most windows have also been updated. Each tenant pays for their own cooking gas and electric.

Apartment Breakdown:

• Apartment 1F (1-Bedroom)

• Apartment 1R (2-Bedroom)

• Apartment 2F (2-Bedroom)

• Apartment 2R (2-Bedroom)

Unfinished Basement (1,722 sq. ft.)

The full, wide-open basement has great ceiling clearance and two separate entrances. Similar buildings in the area have converted this space into two 2-bedroom apartments, which could generate an additional $45,000+ a year, as well as laundry and storage for the building. Gas and electric lines are already in place.

Location

This property is in an ideal location, within walking distance of the Pelham Station subway, bus stops, shopping, schools, and other essential amenities. The area is highly desirable and easy to rent. All current tenants are excellent and pay on time.