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914 Pelham Parkway S

Bronx, NY 10462
  • $890,000
  • STATUS: Active
  • ON SITE: 80 Days
  • MLS #: H6143771
UPDATED: 184 min ago
$890,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1933
County:
Area:

School Ratings & Info

School District:

Description

HANDY MAN SPECIAL: There are those who say the most valuable attribute to a property is location location location. NOT TRUE. The most valuable attribute to an investment property is its HIGHEST AND BEST USE. and maximizing the income the property can produce. Such is the case of this R6 ZONED MULTI-FAMILY USE PROPERTY that is situated on Pelham Phwy South ripe for the pickings at a sacrifice price of $890,000. Although we recommend that an Architect be consulted, we read the R6 zoning to allow for the properties foot print to be used as a 6-8 family multi-family complex with a projected gross income for one bedroom rental units (8) at $1800 each or a yearly income of $172,800. So when Realtors tell you the value of an investment property is location location location tell them, no its not it Highest & Best Use, Highest & Best Use, Highest & Best Use. In the case of 914 Pelham Pkwy South, you have the best of both, Location and Highest and Best Use as a small apartment house.

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© 2021 OneKey MLS. All rights reserved. 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 is deemed reliable but is not guaranteed accurate by the MLS or Carollo Real Estate. Data last updated: 2021-12-08T23:16:35.07.
www.carollorealestate.com/homes/121580180
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914 Pelham Parkway S Bronx, NY 10462

  • Price: $890,000
  • Status: Active
  • On Site: 80 Days
  • Updated: 184 min ago
  • MLS #: H6143771
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1933
Built
Neighborhood:
Bronx
County:
Bronx
Area:
Bronx
School District:
City Of New York
Property Description
HANDY MAN SPECIAL: There are those who say the most valuable attribute to a property is location location location. NOT TRUE. The most valuable attribute to an investment property is its HIGHEST AND BEST USE. and maximizing the income the property can produce. Such is the case of this R6 ZONED MULTI-FAMILY USE PROPERTY that is situated on Pelham Phwy South ripe for the pickings at a sacrifice price of $890,000. Although we recommend that an Architect be consulted, we read the R6 zoning to allow for the properties foot print to be used as a 6-8 family multi-family complex with a projected gross income for one bedroom rental units (8) at $1800 each or a yearly income of $172,800. So when Realtors tell you the value of an investment property is location location location tell them, no its not it Highest & Best Use, Highest & Best Use, Highest & Best Use. In the case of 914 Pelham Pkwy South, you have the best of both, Location and Highest and Best Use as a small apartment house.
Exterior Features

Construction Materials BlockBrick

Interior Features

Cooling Window Unit(S) Cooling YN Yes

Property Features

Property Sub Type Mixed Use Property Type Commercial Sale Zoning Description R6

Listing courtesy of Richard Greco of Richard Greco Real Estate.
© 2021 OneKey MLS. All rights reserved.


© 2021 OneKey MLS. All rights reserved. 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 is deemed reliable but is not guaranteed accurate by the MLS or Carollo Real Estate. Data last updated: 2021-12-08T23:16:35.07.
 
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