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388 Audubon Avenue, New York, NY, USA, 10033

  • Posted: 11/17/2023 2:45:44 AM

Neighborhood: Fort George / Washington Heights

$1,150,000 USD

🏢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: $1,150,000