1619 Melville St Bronx, NY 10460
- Commercial real estate
- 2,800 SF
Current Use by Public Records
- Commercial real estate
Property Details for 1619 Melville St
- Year built
- 1915
- Property size
- 2,800 SF
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents a meticulously renovated four-unit apartment building located at 1619 Melville St, Bronx, NY 10460. This Class A property boasts a total of 2,800 square feet across two buildings situated on a 2,500 square foot lot, zoned R5. Built in 1915 and completely renovated in 2023, the property features four apartments: a one-bedroom, one-bathroom unit over a studio in the front building, and two additional one-bedroom, one-bathroom units in the rear building. Each unit benefits from updated kitchens and bathrooms, gleaming hardwood floors, and modern amenities. The comprehensive renovation included new electrical and plumbing systems, a new on-demand water heater and boiler, and fresh stucco exteriors. The property generates a strong net operating income (NOI) of $65,000, with tenants responsible for all utilities. Priced at $1,200,000 ($428.57 per square foot and $300,000 per unit), this property offers a compelling return on investment in a desirable Morris Park location with convenient access to transportation. This unique offering presents two homes on a single lot, making it an ideal investment for owner-users or seasoned investors seeking a high-performing asset in a thriving Bronx neighborhood.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Bronx
- County
- Bronx
- State
- New York
- Longitude
- -73.8686763
- Latitude
- 40.8407755
