421 W 146th Street is a 5-story building, plus full basement that has just went through a complete gut renovation. Brand new mechanicals and sprinkler system in place. Additionally, the heaters have been separated by apartments, meaning tenants are paying their own heat which saves you on monthly expenses. This building is currently set as 5 units, all being 1 bed & 1 bath, while the legal use is 10 SRO (Class B Units). Each apartment comes with updated bathrooms and kitchens, hardwood floors, exposed brick, and heigh ceilings. The building has a clean DHCR. Potential buyers have multiple options with this opportunity: - Rent as is, getting over 8% CAP Rate. - Get non-harassment letter; this will be easier due to the fact this has been vacant for over six years. This will give you the ability to convert the building to a two-family which will increase the value to $2.6M-$2.9M. - Keep the building as 10 SRO, Class B units, after converting each unit from 1 bedroom to 2, renting by room. The building is Currently fully vacant. The owner is motivated to sell. Price is negotiable. Building Dimensions: 12 x 52 FT Building SQFT: 2,588 Lot Dimensions: 12 x 99.92 FT This Building is located just one block away from the 145th St And St Nicholas Ave Subway Station with the Jackie Robinson Park and Recreation Center being just a 4 minute walk and Riverbank State Park on the Hudson River is just 15 minutes away. This is the perfect building to add to your portfolio, contact us if you are interested and we will schedule a showing. For a set-up please send me an email.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
