1672 Park Ave, New York, NY 10035

NEW PRICE DROP!!! 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 stabilized 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 $314,856 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. Subways: 6 at Lexington Ave on 116 St. 0.15 miles, 4 min 4, 5, 6 at Lexington Ave on 125 St. 0.36 miles, 6 min 2, 3 at Lenox Ave on 116th St. 0.37 miles, 7 mins Recent Improvements: Boiler 7-years old New roof layer 2-year old Brick re-pointed 1-year old Windows re-caulked 1-year old *RS units (1A, 2D, 3A, 4C)*