Master on Main
1650 Montgomery Avenue BRONX, NY
$ 990,000
Property Attributes
  • MLS#H6079315
  • TypeMulti-Family
  • CountyBRONX
  • CityBRONX
  • AreaBronx
  • NeighborhoodBRONX
  • Zip10453
  • StyleTownhouse,Contemporary
  • Year Built1920
  • Taxes3615
  • Price$ 990,000
  • Bedrooms9
  • Full Bathrooms4
  • Half Bathrooms0
  • Sqr Footage3312
  • Lot Size2,614 SqFt
Listing Provided Courtesy Of:
Danny B Agboh with Charles Rutenberg Realty, Inc.
Property Description

Gigantic investment opportunity for all investors and developers!!! Just a few minutes across the bridge from Manhattan in the University Heights of the Bronx, New York, lies this huge 2019 renovated 5 family property with stupendous returns. The property currently consists of a huge 2 bedroom apartment (Vacant), over 2 bedroom apartment on the first floor, and also another large 3 bedroom apartment and 2 bedroom apartment on the second floor, plus an additional 3 bedroom apartment ( open space) on the Walk-in level. There is also a huge full walk-out basement, (street level) that features 1 bedroom apartment respectively with a full bathroom in each apartment. This brings the total number of bedrooms to 13 bedrooms. The basement level is currently demolished and cleaned out for renovation and is to be completed by the next owner. This property currently has an approved plan for a 5 family with the New York City Department Of Buildings (DOB). Sprinkler system was already approved and paid for by the current owner. The new owner only needs to file for a new certificate of occupancy to convert to 5 family which increases the value to $1.2million. Zoning of R7-1 with an air right also affords the new owner the opportunity to build up to a total of 18 units on this property. Net Operating income is $93,085 yearly, tax is $3,615 (very low), total operating expenses including taxes is $13,115 and the cap rate is 9.40%. Projected Net Operating Income is $139,400 with total Operating Expenses including taxes at $16,000. Cap rate will be 14%. Let's deal!!

Elementary School Middle School High School
Call Listing Agent Elementary School Call Listing Agent Middle School Call Listing Agent High School
Price History
10/28/2020 Listed $990,000

General Features

Architectural Style Townhouse, Contemporary
Buildingareaunits Square Feet
Community Features Park
Construction Materials Brick
Cooling None
Elementary School Call Listing Agent
Elementary School District Bronx 10
Flooring Hardwood
Garage Spaces 0.00
Heating Natural Gas, Baseboard
High School Call Listing Agent
High School District Bronx 10
Hot Water Gas Stand Alone
Interior Features Master Downstairs, Eat-in Kitchen, Granite Counters
Junior High Call Listing Agent
Middle/Junior School District Bronx 10
Numberofheatingzones 6
Parking Features Driveway, Off Street
Property SubType Multi Family
Property Type Residential Income
Sewer Public Sewer
Tax Annual Amount 3615.00
TaxAssessedValue 622000
Total Units 5
Village None

Exterior Features

Fencing Fenced
Lot Features Easement, Near Public Transit
Lot Size Acres 0.0600
Lot Size Area 0.0600
Lot Size Source Other
Lot Size Square Feet 2801.00
Lot Size Units Acres
Number of Separate Electric Meters 3
Number of Separate Gas Meters 2
Roadresponsibility Public Maintained Road
Total Parking 2.00
Water Source Public


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 10453

AVG $1.02M
AVG $3,805
AVG 25
Year Built
AVG 1929

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