Open House by Appointment Only This large house on West 119th Street is well positioned to be a fantastic income generator. Similar to a boutique hotel, 69 West 119th Street is a 10-bedroom 9-bathroom building with an ensuite bathroom in nearly every room. When operating as a building with short-term housing, the building yields an astounding $466,000 in gross revenue each year. The net operating income is approximately $329,000, or about a 12% capitalization rate based solely on net rental income and not even factoring in appreciation. For the buyer not interested in operating an investment property, this beautiful house is also entirely vacant and with a Certificate of No Harassment for an easy single-family, two-family, three-family, or four-family conversion. The large floor plans and big extension offer many opportunities for the buyer to create large and comfortable bedrooms with plenty of oversized windows for light and air. The backyard is sizable and private and is currently accessed on the ground floor, however, a deck and stairs from the parlor floor can easily be added in the back. This is an exciting opportunity to own one of Manhattan's few original brownstones. Located in the Mount Morris Park Historic District, the neighborhood is full of other classic brownstones and tree-lined streets. Just a few houses from Lenox Avenue, 69 West 119 is in the center of Harlem's commercial district with plenty of shopping and restaurants in close proximity. 125th Street has all of the express transportation, and national retailers including Whole Foods and the new Trader Joe's and Target planned for 2023.
This property is not currently displayed as for sale or rent on Zillow. This may be different from what's on other websites or public sources.
