569 W 161 St Between Broadway and Amsterdam Ave. Great multifamily income property with great development potential to convert into condos or luxurious residence. 7 family 4 stories brownstone building in Washington Heights is conveniently located two blocks away from C line. The property just few blocks away from Columbia Presbyterian Hospital. 2 studios, 4 one bedroom and 1 two bedroom garden apartments has potential to produce over 110K rent-roll. 6 apartments will be delivered vacant. Renovated hallways. Lots of original details, 5 fireplaces. Exterior renovations where recently completed including new roof, skylights, newly pointed back wall, restored façade and the stoop. New Intercom system. Security system with 3 hidden cameras, external night vision camera and DVR. Boiler is 4 year old, Building size 19’x65' Lot size 19’x100’ Zoned R7-2 and can be built up to 6500 Sq. Ft. Neighborhood Description Washington Heights is bounded to the south by 155th Street and to the north by Fairview Avenue and runs from the Harlem River on the east to the Hudson River on the west. According to the 2000 Census, WaHI had a population of 208,414 people, which represented an increase of 5.2% since the 1990 Census and 15.8% since the 1980 Census, so the community has been growing. The racial/ethnic breakdown is as follows: 74.1% Hispanic, 13.6% white (non-Hispanic), 8.4% black (non-Hispanic), and 2.1% Asian/Pacific Islander. The median household income was $28,865 in 1999 and $52,578 in 2002, which reflects the fact that WaHI is quickly becoming gentrified as increasing numbers of professionals with higher incomes seek affordable housing in our neighborhood.
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