OPEN HOUSE
Fri Mar 21, 4:00pm - 5:00pm
Mon Mar 24, 4:00pm - 5:00pm
Fri Mar 28, 4:00pm - 5:00pm
UPDATED:
Key Details
Property Type Condo
Sub Type Condo
Listing Status Active
Purchase Type For Sale
Square Footage 2,431 sqft
Price per Sqft $266
Subdivision Hamilton Heights
MLS Listing ID RLS11028023
Style Prewar,Loft
Bedrooms 3
HOA Fees $933/mo
HOA Y/N Yes
Year Built 1900
Annual Tax Amount $7,956
Property Sub-Type Condo
Property Description
This 2,431 square foot (SF) duplex commercial condominium located on the garden and basement level of 764 St. Nicholas Avenue in the Hamilton Heights/Sugar Hill Historic District is presented in outstanding condition and at a LOW PRICE PER SQUARE FOOT of $267/SF! As such, this property is optimally positioned to generate an 8.7% CAPITALIZATION RATE for the Buyer! The unit also comes with private access to a private 1000 square foot back yard, and access to the shared roof deck!
While this is currently a commercial condominium, an investor can also consider reverting back to residential status for the possibility of even higher returns. To this end, architect's plans for the conversion are in the accompanying Due Diligence folder for this listing, and in the Floorplans Section. Some accompanying images are virtually staged as commercial or residential to illustrate both potential scenarios, and are marked as such
This duplex consists of the two units on the lower two levels of the building, which have been combined. In addition to the high square footage, low price per square foot and outstanding capitalization rate, the duplex features central HVAC, and benefits from updated electrical, plumbing, water, drain and sprinkler systems, which were all replaced during the 2008 renovation. The monthly common charge is estimated at a very affordable $933, plus low monthly taxes of $663.
The Hamilton Heights/Sugar Hill neighborhood is renowned for its graceful architecture and vibrant lifestyle, with nearby shopping and restaurants. For recreation, Jackie Robinson Park is just one block east, currently enjoying a $4.4 million upgrade of outstanding quality. The property is also located just a few steps from the 145th Street A/B/C/D express subway station, offering a 15-minute ride to midtown.
With its exceptional condition, low price per square foot and expenses, and excellent location, this spacious property represents a great opportunity for either a commercial or residential developer or end-user! Contact the listing brokerage Harlem Lofts today for your private appointment, or book at the appointment link on this page.
* Please note that this listing is for the duplex unit on the lower two floors of the building
* Number of bedrooms/bathrooms is taken from the residential architect's plans - see listing
* Virtual Tour and Video are also included - see above
Location
Interior
Heating Central
Cooling Central Air
Flooring Hardwood
Fireplaces Number 1
Fireplaces Type Other
Furnishings Unfurnished
Fireplace Yes
Laundry Building None, In Unit
Exterior
Exterior Feature Building Garden, Garden
Private Pool No
Building
Dwelling Type Duplex
New Construction No
Others
Pets Allowed Pets Allowed
Ownership Condominium
Monthly Total Fees $1, 596
Special Listing Condition Standard
Pets Allowed Building Yes, Yes
Virtual Tour https://youtu.be/h1B9Z7RuKac
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Randy Reis
Team Leader | License ID: 40RE1176716
Team Leader License ID: 40RE1176716