Building For Sale - Washington Heights - Acrosss From Yeshiva University

Description:

RESIDENTIAL UNITS:
388 Audubon Avenue is a three-story walk-up townhouse building featuring two large FREE MARKET RENT lresidential apartments and one street level commercial retail space. The apartments can be easily converted into 2 or even 3 bedroom student Housing for Yeshiva University. Both apartments can be delivered vacant.

COMMERCIAL SPACE:
The ground-floor retail store is Currently leased to a Beauty Salon, with the lease set to expire on July 2025, wich offers an immediate opportunity for a rental increase.

FIXER-UPPER / UPSIDE POTENTIAL:
An excellent opportunity for renovation and improvement exists, providing potential investors with the chance to increase the property's overall value.

LOCATION:
Centrally situated in the heart of Washington Heights. Positioned across the street from YESHIVA UNIVERSITY.
The neighborhood offers access to a variety of shopping options and a diverse culinary tapestry with restaurants offering various cuisines.

DEMOGRAPHICS:
Diverse demographics in Washington Heights contribute to a rich cultural mix, fostering a vibrant and dynamic community.

TRANSPORTATION:
With excellent access to public transportation, including nearby subway stations (such as the #1 Train and A Train) and bus stops, the property enhances convenience for residents and boosts its overall value. The proximity to
I-95 interstate, Harlem River Drive, and numerous bus lines adds to the transportation accessibility.

IN SUMMARY:
388 Audubon Avenue represents a compelling investment opportunity with its prime location, versatile layout, and potential for both residential and commercial endeavors. Whether considered as a fixer-upper, rental property, or strategic conversion, this property holds promise for those seeking to capitalize on Washington Heights' dynamic real estate market.

OVERVIEW:
BLOCK & LOT: 2157-21
LOT SIZE: 1,080 sf
LOT DIMENSIONS: 18ft Wide X 60ft Deep
BUILDING SIZE: 2,880 sf
BLDG. DIMENSIONS: 18ft Wide X 40ft Deep
STORIES: 3
ZONING: R7-2
FAR AS BUILT: 2.67
YEAR BUILT: 1899

PROJECTED INCOME: $84,000.00
ESTIMATED EXPENSES: $18,372.00
NOI: $65,628.00
PRICE: $1,125,000