The subject properties were built circa 1914 and are two adjacent multifamily elevatored apartment buildings encompassing the entire eastern block front of Fort Washington Avenue for a combined 204 feet of frontage between West 160th Street and 161st Street. The buildingsâ?? warm and charming vestibules make way for extremely well maintained properties with recent improvements including new elevators, roofs, re-pointing, boilers, intercoms, fire escape cages, mailboxes, and the installation of security and key fob systems. The combined 85 residential units feature spacious pre-war layouts and are comprised of 1 studio, 1 1-bedroom, 29 2-bedrooms, 25 3-bedrooms, 23 4-bedrooms and 6 5-bedrooms. There is one commercial unit (doctorâ??s office) located in 52 Fort Washington Avenue. The buildingsâ?? are renting at approximately $10.21 per net square foot or 66% below market in a market that could easily yield rents over $30, offering tremendous upside to potential investors. The buildingsâ?? proximity to Columbia Presbyterian Hospital and the ever bustling Broadway retail artery secure future tenant demand and ensure continued neighborhood growth and development. Riverside Park and Highbridge Park, home of New York Cityâ??s oldest bridge, are only a short walk away and offer the public rare urban vistas, pathways, pools, numerous playgrounds, and ball fields. Public transportation is easily accessible via the 1 train stop at Broadway and West 157th Street, the C train stop at Amsterdam Avenue and West 162nd Street and the numerous bus routes that cover the neighborhood. Overview Building Type: Apartment Buildings Block/Lot: 2137/65, 58 Lot Dimensions: 102.17' x 124' & 102.17' x 145.83' Lot Sq Ft: 26,226 (combined) Available Air Rights: 40,605 (combined) Stories: 6 Units: 86 (Combined, 1 Professional) Zoning: R8 FAR: 6.02 Assessment Value: $736,740 Taxes: $98,966 Building Sq Ft: 117,276 (combined) Building Dimensions: 102' x 108' & 102' x 132'
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