2
See all 2 photos
$799,999
Est. payment /mo
9 Beds
3 Baths
1,925 Sqft Lot
New
1821 Topping AVE Bronx, NY 10457
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Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Subdivision Mt. Hope
MLS Listing ID 1043953
Bedrooms 9
Full Baths 3
Rental Info No
Year Built 1899
Annual Tax Amount $2,806
Lot Size 1,925 Sqft
Acres 0.0442
Property Sub-Type Triplex
Source onekey2
Property Description
Calling all investors and cash buyers: a rare deep-value opportunity in the Mount Hope section of the Bronx, offered at $799,999. This extra-large brick legal three-family, built in 1899 and comprising approximately 3,008 square feet on an approximately 1,925 square foot lot, presents an experienced operator with both an immediate repositioning play and meaningful long-term development upside. The building offers generously proportioned layouts with abundant closet space and storage throughout, four electric meters and three gas meters, a full above-ground walk-out finished basement with its own separate entrance, and a large fenced rear yard. The location is a genuine asset in its own right: with a Walk Score of 92, the property sits within steps of the Grand Concourse, multiple subway lines and bus routes, and is only minutes from the Cross Bronx Expressway and the Major Deegan, in a corridor that continues to draw sustained rental demand and investor interest.
The zoning is where this opportunity distinguishes itself. The property is zoned R7-1, which permits a maximum residential floor area ratio of approximately 3.44 — supporting on the order of 6,600 square feet of as-of-right residential floor area against roughly 3,008 square feet built today. That leaves approximately 3,600 square feet of unused development rights and a credible path to a materially larger unit count through enlargement or conversion, subject to Department of Buildings approval. A community facility FAR of 4.80 provides an alternate use for buyers pursuing that route. Prospective purchasers are advised to independently verify all zoning, floor area ratio, lot dimensions, and buildable area with their own architect and expeditor.
The property is being sold strictly as-is and is delivered fully occupied with non-paying tenants. The building is enrolled in the New York City Department of Housing Preservation and Development's Alternative Enforcement Program (AEP). All open housing maintenance code violations, HPD and Department of Finance emergency repair charges and liens, and the resolution of all existing tenancies convey to the buyer at closing. Buyers are directed to conduct their own independent due diligence with respect to violations, outstanding municipal charges, pending litigation, and rent-regulatory status, and to consult their own counsel accordingly.
There is no interior access under any circumstances. Drive by only; please do not disturb the tenants. Cash or hard money only; this property is not eligible for conventional or FHA financing. Proof of funds is required with all offers. Serious, experienced investors only. All information is deemed reliable but is not guaranteed and should be independently verified.
The zoning is where this opportunity distinguishes itself. The property is zoned R7-1, which permits a maximum residential floor area ratio of approximately 3.44 — supporting on the order of 6,600 square feet of as-of-right residential floor area against roughly 3,008 square feet built today. That leaves approximately 3,600 square feet of unused development rights and a credible path to a materially larger unit count through enlargement or conversion, subject to Department of Buildings approval. A community facility FAR of 4.80 provides an alternate use for buyers pursuing that route. Prospective purchasers are advised to independently verify all zoning, floor area ratio, lot dimensions, and buildable area with their own architect and expeditor.
The property is being sold strictly as-is and is delivered fully occupied with non-paying tenants. The building is enrolled in the New York City Department of Housing Preservation and Development's Alternative Enforcement Program (AEP). All open housing maintenance code violations, HPD and Department of Finance emergency repair charges and liens, and the resolution of all existing tenancies convey to the buyer at closing. Buyers are directed to conduct their own independent due diligence with respect to violations, outstanding municipal charges, pending litigation, and rent-regulatory status, and to consult their own counsel accordingly.
There is no interior access under any circumstances. Drive by only; please do not disturb the tenants. Cash or hard money only; this property is not eligible for conventional or FHA financing. Proof of funds is required with all offers. Serious, experienced investors only. All information is deemed reliable but is not guaranteed and should be independently verified.
Location
State NY
County Bronx County
Rooms
Basement Finished, Walk-Out Access
Interior
Interior Features Other
Heating Natural Gas, Other
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Features None
Utilities Available Electricity Available, Natural Gas Available
Garage false
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Schools
Elementary Schools Contact Agent
Middle Schools Call Listing Agent
High Schools Contact Agent
School District Contact Agent
Others
Senior Community No
Special Listing Condition None
Listed by Locqube New York, Inc. • Jeffrie Pena
NEARBY SCHOOL & BUSINESS
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