421 E 118th Street

-Renovated FREE MARKET 3-Family TOWNHOUSE with Three Outdoor Spaces...Garden, Terrace, and Roof- Central AC, Radiant Heated Floors, and Skylights are just some of the wonderful details in this home. All of the three apartments are Free Market AND Taxes are only $337 per month making this a perfect live/work home with substantial income producing potential (see rent roll and expenses below). The owners worked side-by-side with an architect and invested nearly $1 Million dollars in renovations to create this stunning townhouse. Features include state of the art kitchens and baths, CENTRAL A/C in every room, radiant heated floors, exposed brick walls, porcelain and wood floors. The mechanicals, roof, and stucco exterior were all updated in recently. Situated on one of East Harlem's prettiest tree-lined streets...just two blocks away from Costco and Target! EXPENSES (Yearly): - $3,800 for Electric, Heat, AC, and Gas - $3,250 for home owners insurance - $3,828 for real estate taxes - $1,160 for water and sewage tax TOTAL: $12,038.00 per year RENT ROLL (projected): - Garden Duplex (floors 1&2)...$4,500/month - 3rd floor one-bedroom + Terrace....$2,800/month - 4th floor one-bedroom + roof....$2,800/month TOTAL: $121,200 per year CAP rate 4.5% FLOORS 1 & 2 (Garden Duplex): The front door opens into a bright and inviting entry hall. The first floor apartment is ideal for entertaining -- equipped with a chef's kitchen, top of the line appliances, a breakfast bar and plenty of counter space with storage. Across the kitchen is a wonderful sitting area/den with doors leading directly to the lush garden. On the opposite end of the house, you'll find a sun-filled bedroom and full bathroom. The second floor features two more large rooms, a second full bathroom, dressing room, exposed brick and large floor-to-ceiling windows. Both levels can be easily combined to create a garden duplex. THIRD FLOOR: A one-bedroom residence with its own private terrace oasis! A dream apartment for those who love to spend time outdoors. The renovated kitchen boasts a breakfast bar and opens directly into the living room...a wall of glass doors leads to the terrace with treetop views and a church in the distance. The king sized bedroom is quit spacious, with lots of closet space and a full bathroom across the hall. FOURTH FLOOR: Another beautifully renovated one bedroom apartment, with extra high ceilings and skylight! Features a state-of-the art kitchen and access to the roof! The new roof spans the entire length of the house and is the perfect place for the new owner to landscape, install a deck, add patio furniture and make it their own private oasis! BASEMENT/CELLAR: Finally, downstairs there is a clean efficient cellar with a laundry room equipped with a washer and dryer. The basement measures the entire length of the house allowing for plenty of space for storage or once can possibly create their own private GYM! A great area to store your bicycles or house your favorite bottles of wine! Only a few blocks away lies a shopping mecca of stores...Costco, Target, Starbucks, and Marshall's. The area is well known for fine restaurants such as Rao's and family eatery's like Patsy's. Parks, Playgrounds and River walk access are only two blocks away. As the seasons change so do the neighborhood festivals -- there are many exciting events celebrated in East Harlem throughout the year. To learn more please call or e-mail Guy today to schedule a private tour.