561 Walton Ave, Bronx, NY 10451

Legal 10 unit SRO in the rapidly developing neighborhood of Mott Haven. There is a certificate of no harassment in place providing an opportunity for a 3 or 4 family conversion. Property is zoned C4-4 with an FAR of 3.4, equivalent to residential R7-2. This home features 4 levels plus a sub basement. The need for SRO's increased during the pandemic. New York City transferred people from crowded homeless shelters to unused, empty rooms in idled hotels. Since then, federal and state money has been appropriated to help nonprofits buy vacant hotels for conversion into permanent residences, with a priority on housing the formerly homeless. This property offers a few great options which makes it truly intriguing. The property is a short distance from I-87 and the E. 149th #2, #4, and #5 train station.