1120 Wheeler Avenue, Bronx, NY, 10472 New York City NY US

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. 2 of the 4 apartments are rented out. Purchase price of $479k PLUS HPD Assumable Loan of $397k equals $876k. Buyer MUST assume the HPD renovation loan which is $397k (estimated) 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 once everything is finalized 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 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, brand new roof, new solar panels paid for, major brickwork, 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! Find out more about this property. Request details here