Address
1120 Wheeler Avenue BRONX, NY
Price
$ 519,000
Property Attributes
  • MLS#H6115459
  • TypeContingent
  • CountyBRONX
  • CityBRONX
  • AreaBronx
  • NeighborhoodBRONX
  • Zip10472
  • StyleTrilevel
  • Year Built1929
  • Taxes$ 10006
  • Price$ 519,000
  • Bedrooms7
  • Full Bathrooms4
  • Half Bathrooms0
  • Sqr Footage3200
  • Lot Size2,614 SqFt
Listing Provided Courtesy Of:
Ceasar Rosas with Exp Realty
Data Source:
Hudson Gateway MLS (HGMLS) - 1 - NY
Property Description

ACCEPTED OFFER AS OF 8/4 - Welcome to this 4 unit investment in a thriving section of the South Bronx. This home features one 3 bedroom apartment, one 2 bedroom apartment, and two 1 bedroom apartments. 3 of the 4 apartments are rented out. There is potential to receive a full tax abatement once renovations are complete. Buyer MUST assume the HPD renovation loan which is $420k at 0% interest and is a 2nd lien position.(HPD Loan is not pre-payable) MONTHLY PAYMENTS FOR THAT LOAN ARE $291.30/monthly with a balloon payment at the end of maturity in 2051 for the remainder. Units become rent stabilized after renovations are completed at the end of the summer and must follow NYC AMI rental guidelines which equates to market rate rent in this area. This 4 unit has undergone large renovation items already. Completed Renovations include: Asbestos removal, all new windows (including lintels, window sills, etc.) in all 4 units, 2 brand new hot water heaters, new parapet and building envelope has been rebuilt, new front and back stairways, new intercom system, new front and back entry doors, new energy-saving fixtures in units, ex. - shower heads, faucets, LED lights, door weather strips, and thermostatic radiator valves. Renovations to be done: Brand new roof, stucco to be done on two sides and brick pointing in front, solar panel install to provide cost savings to owner and each unit's utility bill, skylight replacement, and new roof-cap. There is a huge unfinished basement than can be used to create extra income, such as a laundry room and storage spaces, basement does need work. Some units will need TLC, but with the renovation loan in place with HPD the big ticket items will be done. Come see all the possibilities that you may have with this solid investment in the thriving South Bronx!

Elementary School Middle School High School
Call Listing Agent Elementary School Call Listing Agent Middle School Call Listing Agent High School
Price History
5/17/2021 Listed $849,000
6/2/2021 30% - $599,000
7/16/2021 14% - $519,000

General Features

Architectural Style Trilevel
Building Area Units Square Feet
Construction Materials Brick
Cooling None
Elementary School Call Listing Agent
Elementary School District City of New York
Garage Spaces 0.00
Heating Natural Gas, Hot Water
High School Call Listing Agent
High School District City of New York
Hot Water Gas Stand Alone
Lot Size Square Feet 2500.00
Middle/Junior High School Call Listing Agent
Middle/Junior School District City of New York
Property SubType Multi Family
Property Type Residential Income
Sewer Public Sewer
Tax Annual Amount 10006.00
TaxAssessedValue 551000
Total Units 4
Village None

Exterior Features

Lot Size Acres 0.0600
Lot Size Area 0.0600
Lot Size Source Other
Lot Size Units Acres
Number of Separate Electric Meters 4
Number of Separate Gas Meters 4
Parking Features None
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Contingent Average in 10472

Price
AVG $710K
$520K
Taxes
AVG $6,590
$10,006
Visits
AVG 70
7
Year Built
AVG 1935
1929
Walkscore
AVG 88
85
Data Provided by Walkscore ® not using MLS data

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