407/409 W 261st Street #0 Bronx, NY 10471

Douglas Elliman is pleased to present an incredible property investment opportunity. This 3-Family stuccoed building is located at 409 West 261st Street on a quiet tree-
lined block in the desirable neighborhood of Riverdale in the city of the Bronx. This beautiful building can be coverted into a single family or keep it as a multifamily for rental income. Zoned R3A, this property is situated two blocks from Riverdale Ave with a lot size of approximately 3742 sf. The garage is on it's own tax lot and can be sold or kept as is. Combine both lots to create a huge 62 ft x 100 ft lot. Current tenants are paying under market rents. The building can be delivered vacant. The property can use a little TLC but has great potential.

This unique opportunity allows the new homeowner to purchase an entire building at half the cost of a condominium while achieving rental income. Live in the home and rent the other thus reducing out of pocket costs of homeownership.

Easy access to all major roads such as I-87 (Major Deegan), Henry Hudson Parkway, and Mosholu Parkway making this area convenient to Manhattan and Westchester counties. Centrally located and ideal for any homeowner. Van Cortlandt Park is a few blocks from this property featuring 1,100+ acres covering ridges and valleys of the Northwest Bronx. From West 225th Street to West 238th Street lies the Broadway shopping corridor which is undergoing a tremendous transition with two large shopping centers including Target, Marshalls, Applebees and Starbucks, which are currently operational, and BJs, Aldi, TJ Maxx and Sports Authority coming in late 2014/early 2015.