140K Profit - off market duplex in the Bronx, NY (ARV 700K)

1 Reply

Price $475,000
Location Melville st, Bronx, NY, 10460
Property Details

Unit: 1

  • Current Rent: $2,400
  • Occupied: No
  • Bedrooms: 3
  • Bathrooms: 1.0
  • Square Footage:

Unit: 2

  • Current Rent: $2,400
  • Occupied: No
  • Bedrooms: 4
  • Bathrooms: 1.0
  • Square Footage:

Lot Size: 2500

Attention NYC rehabbers!

Opportunity to make over 140K on this big 2 family:

  • 2 family frame, detached
  • 4 BR over 3 BR
  • full unfinished basement with windows and street entrance can be converted into a full unit or be attached to 1st floor
  • every floor is 20*50 ft, totalling over 2,000 sqft (not including the basement)
  • two minutes walking to the 2 and 5 train
  • AS-IS value is 500K+
  • house is in relatively good condition! needs minimal work (link 1 - 1st floor)(link 2 - 2nd floor) - all amenities work properly, some of the floors where replaced recently. most work is cosmetics - painting, sidings, kitchen update etc. total rehab estimated at 50K max .
  • total cost for the project is around 525K-535K
  • ARV is 680K-740K (actual recent sales - link)

NYC solid investment. 

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