OVERSIZED STUDIO- Lovingly maintained on quiet tree-lined block. Located just a block away from the Q train and close to both Carl Schurz and Central Park. This is a beautiful, happy home. This second floor studio (one-flight up) is a great opportunity for both an investor and a first time buyer. You can move right in as everything is clean and in excellent condition from the hardwood floors to the tiled bathroom. Or, put your own stamp on it by updating the bathroom and kitchen. Glazing the bathroom (currently green,but again, in great shape) would be an easy and inexpensive update. Rear, Southern exposure provides for excellent light and tranquility. Three large closets give plenty of storage. Similar apartments in the Co-Op put up a wall to convert to a one bedroom with large living and bedroom spaces. Building has been approved for a new laundry room installation that should be completed by the fall. NO assessment! A Few notes: 1. Building has less than 50% owner occupancy so financing can be difficult from larger banks but not impossible (CitiBank loaned for the apartment next door) and a third part lender just closed in the building on a different unit. ) 2. GREAT FOR INVESTORS, especially with the laundry coming in. Potential cap rate of 4.7% for a cash purchase at list price. 3. Sorry, but no pets are permitted by the Co-Op 4. Unlimited subletting permitting, with board approval, from day one. Come see this wonderful opportunity today.
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