$8,300,000

Built in 1890, this lovingly maintained and superbly located Italianate style brownstone in Chelsea, was originally built as a single family and is now quite the investment! Comprised of renovated, FREE MARKET units (4 total, with 3 units that may be delivered vacant, if desired, and one with a short lease), and with approximately 4,828SF in air rights on a non-landmarked street, there is unlimited potential for an addition, conversion to condominium (or an even larger development when purchased with the building next door) or recreating a single family home. Close to Trader Joes, 6th Ave shopping district, PATH, Union Sq and multiple subways, this home is an incredible opportunity for appreciation.

Multi Family Townhouse
Apts- Owners duplex + 3 Apts ALL FM
Bldg Dimensions- 20ft x 52ft
Lot - 20ft x 83.25ft
Building class- Four family C6-2A
Built- 1890
Air Rights Available: 4,828 SF
Residential Square Footage: 5,200

Rent Roll:
Owners Duplex- $10,000 Projected
Apt 2- $5,475 Actual ; $5,850 projected
Apt 3- $4,820 Actual ; $5,500 projected
Apt 4 - $4,620 Actual ; $5,200 projected

Total Per Month: $24,915 Actual ; $26,550 Projected

Total Annual: $298,980 Actual ; $318,600 projected

Expenses:
Taxes- $55,599 Actual
Gas/ Electric- $4,500 Actual
Insurance- $4,000 Actual

Net Operating Income (NOI)- $234,881 Actual ; $254,501 Projected


Additional Details:
The owner's duplex features a gourmet custom chef's kitchen, gracious formal dining room, soaring ceilings over 11 feet tall, a sun-blasted great room overlooking lush gardens, two king-sized bedrooms, two and a half renovated bathrooms, stacked washer/dryer, two walk-in closets, exposed brick, two wood-burning fireplaces, and direct access to the garden and a full basement. Each of the three income producing units upstairs maintain two bedrooms, one renovated windowed bathroom and a modern kitchen with mainly stainless steel appliances and granite countertops, along with custom cabinetry. All have high ceilings, exposed brick, wood-burning fireplaces and washer/dryers in unit. The top floor has two skylights. The basement has over 6 foot ceilings, is well organized with all mechanicals and offers ample space for storage. Truly an incredible home!