The building is in excellent condition and has recently had a ton of work done to it in the past few years, the owner has put in over $1MM in improvements.Along with the excellent location and unique layout, this could be a slam dunk for any of you that have investor clients looking for something of this nature.On top of that, there is FULL OCCUPANCY and even a waiting list to get into the building!There are three sets of numbers that I will be including: the "actual" numbers and two different sets of "projected" numbers.Currently, the owner lives in a decked-out triplex in the building, and also uses an additional studio, so the "actual" numbers are a bit skewed for those of you with clients not looking to live in the building AND rent the rest.We are projecting that the additional studio could get a minimum of $1,800/month, and the Triplex could most likely fetch about $11K/month, so the projected NOI and ROI are based on those estimates.Below, you can find all of the details.CURRENT (ACTUAL) Operating Expenses (Actual): $67,750/yr Gross Income (Actual): $172,740/yr NOI (Actual): $104,990/yr ROI (Actual): 1.75% As I explained above, the owner lives in the sick triplex in the building (which has outdoor space with a hot-tub!), and also uses an additional studio as well.The result is higher operating expenses, which in turn means lower NOI and ROI There are 6 apartments currently being rented, and ALL ARE FREE MARKET!> Projected (If just renting the studio) Operating Expenses (Projected if just renting studio): $66,550/yr Gross Income (Projected if just renting studio): $194,340/yr NOI (Projected if just renting studio): $127,790 ROI (Projected if just renting studio): 2.13% In this instance, there would be 7 FREE MARKET APARTMENTS The studio was recently renovated, so all of the finishes are brand new!Projected (If renting BOTH studio AND Triplex) Operating Expenses (projected rent with studio and Triplex): $61,750/y Gross Income (projected rent for studio and Trip
Located in Treadwell Farms Historic District this Neo-Grecian 3,750sf Townhouse is perfect for a buyer with an eye for design. Built in 1874 the property features ample outdoor space: a 19 x16 private outdoor patio with a planted garden, a second floor 15 x10 slate balcony accessed through paneled French doors, and a 12 x11 planked sun deck with southern exposure ideal for sunbathing. There are 11ft ceilings throughout the home, a finished English basement with windowed kitchen, elegant pickle wood floor-to-ceiling bookshelves and two washer/dryers.
Offered exclusively for the first time after a major price adjustment this two-family townhouse is perfect for a single-family conversion or diplomatic/corporate relocation. Call or email to schedule a private viewing.
Very good investment property in a building that is rock solid strong! Four huge floor-tru apartmnts with very high ceilings that are always rented. The garden apartments boast a nice private backyard patio. Home set back from street with garden entry. One block away from The Church of All Saints AKA St. Patrick's of Harlem, as this landmark church was designed by the same architect of Saint Patricks Cathedral James Renwick Jr. Short walk to Metro-North and all trains & Buses. Great location. Townhouse has low taxes annually and produces a nice income. This can be your cash cow. PLEASE NOTE THIS IS A MULTI-PACKAGE DEAL WITH 2030 MADISON
This is a 5 story building on a PRIME Harlem block. The first three floors are commercial, and the top two are residential. The building will be delivered vacant. The first floor is currently a laundromat, but there is no lease and the machines will be removed upon sale. The other four floors are framed out and have electricity, but no plumbing. Building in foreclosure, so buyer pays broker fee. Buyer will also be responsible for $250K in back taxes. Building is in great condition. Will easily bring in $20k/month income. One and a half blocks from 2/3 express trains and bus stops in front. Seven blocks from entrance to Central Park.