1672 Park Avenue

$2,750,000
Price
12
Beds
14
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

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)*

Listing Agent

  1. Yakub Laguda

    Yakub Laguda

    Listing Agent

    Compass

Amenities

  • Ground Floor
  • Exposed Brick
  • Hardwood Floors
  • High Ceilings
  • Window Treatments
  • Walk Up
  • Voice Intercom
  • Back Yard

Location

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LISTING UPDATED: 10/02/2023 01:37 AM

Property Details for 1672 Park Avenue

StatusExclusive Expired
Days on Market293
Taxes$5,197 / month
Maintenance-
Min. Down Pymt-
Total Rooms14.0
Compass TypeMixed Use
MLS TypeMulti Family
Year Built1910
Lot Size2,237 SF / 25' x 90'
CountyNew York County

Building

1672 Park Ave

11 Units4 StoriesBuilt in 1910

Location

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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

30 year fixed, 7.25% Interest

Principal and Interest

$15,008

Property Taxes

$5,197

Maintenance/Common Charges

$0

The Payment Calculator is for illustrative purposes only.

Property History for 1672 Park Avenue

DateEvent & SourcePriceAppreciationLink
DateEvent & SourcePrice

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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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2024 The Real Estate Board of New York, Inc., All rights reserved. The source of the displayed data is either the property owner or public record provided by non-governmental third parties. It is believed to be reliable but not guaranteed. This information is provided exclusively for consumers’ personal, non-commercial use. The data relating to real estate for sale on this website comes in part from the IDX Program of OneKey® MLS. Information Copyright 2024, OneKey® MLS. All data is deemed reliable but is not guaranteed accurate by Compass. See Terms of Service for additional restrictions. Compass · Tel: 212-913-9058 · New York, NY Listing information for certain New York City properties provided courtesy of the Real Estate Board of New York’s Residential Listing Service (the "RLS"). The information contained in this listing has not been verified by the RLS and should be verified by the consumer. The listing information provided here is for the consumer’s personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property. This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2024 The Real Estate Board of New York, Inc., all rights reserved. This information is not guaranteed, should be independently verified and may not reflect all real estate activity in the market. Offers of compensation set forth here are for other RLSParticipants only and may not reflect other agreements between a consumer and their broker.©2024 The Real Estate Board of New York, Inc., All rights reserved.