1672 Park Avenue
1672 Park Avenue
$2,750,000
12
14
—
—
—
Exclusive Expired
Description
This well-maintained beautiful red brick Pre-War 12-unit building spans 4 stories. The solid brick, walk-up is 100% occupied with 4 rent controlled apartments. The property consists of 4 studios, 4 one-bedroom, 2 two-bedrooms/one-bathroom and 2 two bedrooms/two- bathrooms apartments, ranging in size from 350 to 900 square feet. This is an excellent investment opportunity with great upside potential. 11 out of the 12 apartments are currently under market and could be raised to market rate. The building...This well-maintained beautiful red brick Pre-War 12-unit building spans 4 stories. The solid brick, walk-up is 100% occupied with 4 rent controlled apartments. The property consists of 4 studios, 4 one-bedroom, 2 two-bedrooms/one-bathroom and 2 two bedrooms/two- bathrooms apartments, ranging in size from 350 to 900 square feet. This is an excellent investment opportunity with great upside potential. 11 out of the 12 apartments are currently under market and could be raised to market rate. The building currently brings in an annual income of $257,364 and a total projected annual income is $317,748
The building’s ground floor apartment 1B is zoned for both commercial/ retail and residential use. The apartment is approximately 900 square feet and can be delivered vacant.
Located 2 minutes away from Urban/ Farmers Market. There are also five parks within 2.3 miles, including Marcus Garvey Park, Dana Discovery Center and Thomas Jefferson Park. Also, there is plenty of shopping and entertainment just a short distance away on 125th Street. This East Harlem gem has a story of its own, as it was the location used for scenes shot in The 1993 film, “Carlito’s Way”, starring Al Pacino. It is considered one of New York’s hottest neighborhoods.
Interesting facts about Why East Harlem:
Culture and Diversity:
East Harlem has a rich history of cultural diversity and a vibrant community with plenty of unique food, music, and art.
Affordable Real Estate:
Compared to other Manhattan neighborhoods, East Harlem still has relatively affordable real estate prices, making it an attractive option for investors looking to get in on the ground floor of an up-and-coming area.
Transportation:
East Harlem is well-connected to other parts of the city via multiple subway lines and buses, making it convenient for residents and visitors alike.
Development and Growth:
There has been a significant amount of development and investment in East Harlem in recent years, with new luxury apartments, retail spaces, and other amenities popping up all over the neighborhood.
Proximity to Other Neighborhoods:
East Harlem is situated close to other popular Manhattan neighborhoods like the Upper East Side and Midtown, making it an ideal location for those who want easy access to all that the city has to offer.
In summary, East Harlem is a unique and diverse neighborhood with a lot of potential for growth and development. With affordable real estate prices, convenient transportation options, and a thriving cultural scene, it may be a good investment opportunity for those looking to get in on the ground floor of an up-and-coming area in New York City.
Recent Improvements:
Boiler 7-years old
New roof layer 2-year old
Brick repointed 1-year old
Windows re-caulked 1-year old
*RS units (1A, 2D, 3A, 4C)*
The building’s ground floor apartment 1B is zoned for both commercial/ retail and residential use. The apartment is approximately 900 square feet and can be delivered vacant.
Located 2 minutes away from Urban/ Farmers Market. There are also five parks within 2.3 miles, including Marcus Garvey Park, Dana Discovery Center and Thomas Jefferson Park. Also, there is plenty of shopping and entertainment just a short distance away on 125th Street. This East Harlem gem has a story of its own, as it was the location used for scenes shot in The 1993 film, “Carlito’s Way”, starring Al Pacino. It is considered one of New York’s hottest neighborhoods.
Interesting facts about Why East Harlem:
Culture and Diversity:
East Harlem has a rich history of cultural diversity and a vibrant community with plenty of unique food, music, and art.
Affordable Real Estate:
Compared to other Manhattan neighborhoods, East Harlem still has relatively affordable real estate prices, making it an attractive option for investors looking to get in on the ground floor of an up-and-coming area.
Transportation:
East Harlem is well-connected to other parts of the city via multiple subway lines and buses, making it convenient for residents and visitors alike.
Development and Growth:
There has been a significant amount of development and investment in East Harlem in recent years, with new luxury apartments, retail spaces, and other amenities popping up all over the neighborhood.
Proximity to Other Neighborhoods:
East Harlem is situated close to other popular Manhattan neighborhoods like the Upper East Side and Midtown, making it an ideal location for those who want easy access to all that the city has to offer.
In summary, East Harlem is a unique and diverse neighborhood with a lot of potential for growth and development. With affordable real estate prices, convenient transportation options, and a thriving cultural scene, it may be a good investment opportunity for those looking to get in on the ground floor of an up-and-coming area in New York City.
Recent Improvements:
Boiler 7-years old
New roof layer 2-year old
Brick repointed 1-year old
Windows re-caulked 1-year old
*RS units (1A, 2D, 3A, 4C)*
Listing Agent
Amenities
- Ground Floor
- Exposed Brick
- Hardwood Floors
- High Ceilings
- Window Treatments
- Walk Up
- Voice Intercom
- Back Yard
Location
LISTING UPDATED: 10/02/2023 01:37 AM
Property Details for 1672 Park Avenue
Status | Exclusive Expired |
---|---|
Days on Market | 293 |
Taxes | $5,197 / month |
Maintenance | - |
Min. Down Pymt | - |
Total Rooms | 14.0 |
Compass Type | Mixed Use |
MLS Type | Multi Family |
Year Built | 1910 |
Lot Size | 2,237 SF / 25' x 90' |
County | New York County |
Building
Location
Virtual Tour
Building Information for 1672 Park Avenue
Stories4Residences11Year Built1910Building Size25' x 65'Building Sq. Ft6,500 SFLot Size2,237 SF / 25' x 90'Building Age-Building TypeTownhouse
Payment Calculator
$20,205 per month
The Payment Calculator is for illustrative purposes only.
Property History for 1672 Park Avenue
Date | Event & Source | Price | Appreciation | Link |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1672 Park Avenue
Taxable ValueLand$40,500Additions$470,250Total$510,750
Home Facts
Total Finished SqFt6,595 SqFtLot Size2,236 SqFtYear Built1910ZoningR8AAPN1016230039
Schools near 1672 Park Avenue
This home is within New York City Geographic District # 5.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
P.S. 30 Hernandez Hughes PublicPK to 5 | ||
Urban Assembly Academy for Future Leaders Public6 to 8 | ||
Urban Assembly-Global Commerce Public9 to 12 | ||
Harlem Renaissence High School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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