In this dynamic NYC real estate market, we bring you an incredibly unique, mixed-use townhouse with great rental income. This five floor, 8010 sf townhouse with an additional 3779 sf of FAR space is located on 9th Ave and 47th street, in the heart of Hell's Kitchen. There are 2 commercial units (currently rented as a laundromat, 1,610 square feet) on the first floor and eight 1BD plus den residential units on the top 4 floors (2 on each floor and each is 800 square feet). Just steps from the Theater District and Times Squares restaurants, entertainment, and transport. 10-minute walk to Central Park, the Columbus Circle bustle, and the Lincoln center. 670 9th Ave location and convenience cannot be beaten. The detail is as follows. Building class Walk-up Apartment - Over Six Families with Stores (C7) i Residential units 8 Residential sqft 6,400 Average residential unit size 800 Commercial units 2 Retail sqft 1,610 Building sqft 8,010 Building dimensions 25 ft x 67 ft Buildings on lot 1 Stories 5 Roof height 58 ft Year built 1920 (estimated) Lot Lot sqft 1,958 i Lot dimensions 25.08 ft x 82.17 ft Ground elevation 43 ft Corner lot No Floor Area Ratio (FAR) Residential FAR 6.02 Facility FAR 6.5 FAR as built 4.09 i Allowed usable floor area 11,787 Usable floor area as built 8,008 Unused FAR 3,779 Rent Roll Lease Expiration 2N $2,500 9/30/22 2S $2,500 9/14/23 3N $2,450 12/31/21 3S $2,450 9/14/22 4N $2,404 6/30/22 rent stabilized 4S $2,350 Month by Month 5N $934 7/31/22 rent stabilized 5S $2,450 Vacant now Store (Laundromat) $11,000 9/30/26 The rent increases $500 each year and tenant pays 20% of property tax increase each year) Total per month $29,038 Total per year $348,456 Expense per year Gas & Electric $7,000 Insurance $5,300 Super $6,000 Sewer and Water $10,600 Tax $88,763 Total $117,663 NOI $230,793 Sale Price $5,200,000 Cap Rate 4.44%
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