446 East 118th St.

East Harlem

For Sale
  • SQFT 4,400 sqft
  • Bathrooms 4
  • Bedrooms 6
  • Maint/CC $0
  • RET $243
  • Price $1,699,000

FIXER-UPPER Calling all investors!!!! Here is an amazing opportunity to take this Brownstone from Fixer to Fabulous!

This Brownstone is waiting for the right person to come in and give it some love. Bring your contractor designer and re-imagine this incredible home on a tree lined street amid East Harlem’s Historic throw back to when this area was known as Italian Harlem. Today the romance of its heritage remains in places like Patsy’s Pizzeria, Rao’s Restaurant, Italian bakery’s and barbershops. You can still walk the streets where some of its most famous residents like Al Pacino, Lou Gehrig, Marc Anthony and others called home.
This Brownstone has 4 separate floors that can each be an apartment. The garden level duplex and two separate apartments. Each floor has approx. 1000 square feet and approx. 12 feet ceilings, beautiful hardwood floors, wood trim moldings, marble fireplaces and windows at each end of the building for cross ventilation! This building has three electrical meters is wired for a three-family home and the conversion should be easy. The Duplex apartment has access to both a front garden entrance and a beautiful private back yard! The basement of this home also boasts high ceilings and can be converted into a wonderful space. Brand new furnace and extremely low taxes.

Expenses Monthly:
Tax Bill $243,
Heat/Electric $700.00
Water Bill $75
Insurance $200
POTENTIAL INCOME
Apt 1 $3500
Apt 2 $2900
Apt 3 $3500
Apt 4 $2800
POTENTIAL CAP RATE 8%

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