1672 Park Avenue

About this property

This well-maintained beautiful red brick Pre-War 12-unit building spans 4 stories. The solid brick, walk-up is 100% occupied with No Rent Controlled or Rent Stabilized Apartments. The property consists of 4 studios, 4 one-bedroom, 2 two-bedrooms/one-bathroom and 2 two bedrooms/two- bathrooms apartments, ranging in size from 350 to 900 square feet. This is an excellent investment opportunity with great upside potential. 11 out of the 12 apartments are currently under market and could be raised to market rate. The building currently brings in an annual income of $257,364 and a total projected annual income is $310,800. The building's ground floor apartment 1B is zoned for both commercial/ retail and residential use. The apartment is approximately 900 square feet and can be delivered vacant. Located 2 minutes away from Urban/ Farmers Market. There are also five parks within 2.3 miles, including Marcus Garvey Park, Dana Discovery Center and Thomas Jefferson Park. Also, there is plenty of shopping and entertainment just a short distance away on 125th Street. This East Harlem gem has a story of its own, as it was the location used for scenes shot in The 1993 film, 'Carlito's Way', starring Al Pacino. It is considered one of New York's hottest neighborhoods. Recent Improvements: Boiler 5-years old New roof layer 1-year old Brick repointed 1-year old Windows re-caulked 1-year old

Listing Courtesy of Yakub Laguda