Status: Available

1991 Madison Avenue, #Building

East Harlem

$2,925,000
 |  6 Beds  |  5 Baths  |  5,986SF

Description

Turn-key free-market townhouse with cash flow from day one! 1991 Madison Avenue is an extraordinary find in today's market: a beautiful corner multi-family in prime Harlem which maximizes income-producing space. Renovated and meticulously well-maintained and well-operated, this four-unit townhouse has three exposures (north, east and west) and is overflowing with windows that flood all apartments with light and a fresh cross breeze. Its exceptional bones combined with great location and access to transportation make this property perfect for any of three uses: 1) PRIMARY RESIDENCE: Call this property home, live in one of the four units and rent out the other three units to cover your monthly expenses and produce excess income. 2) INVESTMENT: Rent out all four units and enjoy high cash flow and long-term capital gains. 3) CONDO CONVERSION: Maximize the buildable SF and number of units and create a boutique condominium that capitalizes on the property's dormant value and produces an outsized return on investment. Building highlights: -All units free market -Low taxes + 2A protected tax class -5.5% cap rate (with all units rented) before value added. -Nearly 20 ft. wide building -Triple exposure + three units with BOTH ...
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Property Details

  • Single fam home

Amenities

  • Cooling: WindowUnits
  • BuildingCooling; BuildingTerrace
  • BuildingPatio
  • Terrace
  • Patio; View: City; Pets: UnitYes
  • BuildingYes

The Neighborhood

East
Harlem
Clinton Hill

For information on 1991 Madison Avenue, #Building contact:

realtor top real estate agent

Jacob Goldman

Founder, Principal Broker

212-388-1115

Founder, Principal Broker
listings@lohorealty.com
212-388-1115

Listing courtesy of Compass
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