315 East 51st Street is a 7-unit income producing investment property. The property currently consists of a total of five (5) free market rental units, with two (2) stabilized units. Several units have been recently renovated and others are meticulously well-maintained. Excellent midtown location surrounded by beautiful townhouses.
The house is comprised of a ground floor duplex 3-bed/2-bath unit, along with a spacious north facing Garden. The second and third floor's both have one (1) bedrooms respectively. The apartments feature spacious bedrooms. The top floor penthouse duplex features updated finishes, 2 bedrooms, washer/dryer in unit, soaring double height ceilings with a breathtaking skylight. All tenants have leases in place. The building will be delivered 100 % occupied with existing rents and leases, offering investors a cash flowing turnkey asset with future upside on lease renewals or convert to a grand single family residence.This property is also an ideal turn-key opportunity for those seeking to live with income in an immaculate 3 bedroom garden duplex with a large north-facing garden.
Specifications:
Stories: 5
Building Sq. Ft.: 5,760 Sq. Ft.
Building Width: 18.75 Ft.
Building Depth: 60 Ft.
Lot Width: 18.75 Ft
Lot Depth: 100.42 Ft.
Annual Taxes: $91,409.64
Current rent roll: $246,462
Perfect 1031 investment property with add on value opportunity. Several units are below market rent from Covid which can be raised at renewal.
All showings are by appointment only require advance notice for access.
