376 Bronx Park Avenue

Detached 13 unit SRO in the Van Nest section of the Bronx. In the right hands this is truly a gold mine. Especially with the need for affordable housing and the new Mayor administration being pro-SRO. Mint your own $ with 13 legal SRO units. The unique design is perfect for an owner operator due to 1 of the 13 units consisting of a two bedroom duplex with its own separate entrance, but also with access to the 12 SRO rooms located on the 2nd and 3rd floor, through a hallway leading to the foyer where the tenants enter. There is a 2nd entrance for the tenants adding a degree of privacy and separation. There are 6 SRO units on the 2nd and 3rd floor. Each of the “SRO floors” have their own full bath. Big extras include a two car garage and a separate finished basement area with an external entrance. That’s in addition to the owner units finished basement. With vouchers paying $2,439 when all utilities are paid by the landlord for SRO rooms, the revenue from the SRO rooms alone have the potential to net 12 x $2,439 = $29,268 monthly. If renting out the owners unit at the standard 2BR rate, with all utilities paid by the landlord, add on another $2,760, bringing the monthly potential rent up to $32,028!!! That $384,336 annually or just over 2 times rent roll with no consideration for potential parking revenue as well. The 180th St station transit HUB is .3 miles away with quick access for Manhattan commuters via the # 2 and #5 train. The owner duplex unit has the living room, dining room, 2 bedroom, full bath with Jacuzzi and a patio on the 1st level. The basement living area has a spacious open area, an office which could be used as a third bedroom, along with the utility room. The owners unit is vacant along with 8 of the SRO units leaving 4 occupied units presently; allowing new ownership to renovate as desired and place their new tenants. Fully operational sprinkler system current with all NYFD inspections. Can be purchased in conjunction with 372 Bronx River Avenue. Same ownership MLS # 938238.