617 West 142nd Street

About this property

Huge Upside Opportunity- High End Gut Renovated 3 Unit Multifamily on Hamilton Height’s Best Block

Fully Occupied with Lease Expirations This Year- 5-6% Cap Rate Projection with New Market Rents

This Architectural Masterpiece features 3 Ultra Modern Rental Units, featuring Washer/Dryers, Split HVAC Central Air, and Stainless Steel Condo Grade Finishes.

Each Unit Features Outdoor Space- Ground Level has a Huge Backyard, 2 Upper Units feature Balconies.

#1- 4 Bed/3.5 Bath. Current Rent- $5000/month

Projected Monthly Rent: $6500

#2- 2 Bed/2 Bath + Home Office. Current Rent- $3200/month

Projected Monthly Rent: $3800

Potential to Convert to 3 Bedroom: $4200

#3- 2 Bed/2 Bath + Home Office. Current Rent- $3200/month

Projected Monthly Rent: $3800

Potential to Convert to 3 Bedroom: $4200

Current Annual: $136,800

Projected Annual as is: $169,200

Projected Annual with Conversions: $178,800

Low Monthly Taxes and Maintenance Costs. Tenants Pay for Electricity, only Water covered by Owner.