140K Profit - off market duplex in the Bronx, NY (ARV 700K)

[Gal Alberman]

Attention NYC rehabbers!

Opportunity to make over 140K on this big 2 family:

• 2 family frame, detached
• 4 BR over 3 BR
• full unfinished basement with windows and street entrance can be converted into a full unit or be attached to 1st floor
• every floor is 20*50 ft, totalling over 2,000 sqft (not including the basement)
• two minutes walking to the 2 and 5 train
• AS-IS value is 500K+
• house is in relatively good condition! needs minimal work (link 1 - 1st floor), (link 2 - 2nd floor) - all amenities work properly, some of the floors where replaced recently. most work is cosmetics - painting, sidings, kitchen update etc. total rehab estimated at 50K max .
• total cost for the project is around 525K-535K
• ARV is 680K-740K (actual recent sales - link)

NYC solid investment.