One of the most outstanding blocks in Hamilton Heights, 542 West 142nd Street is a turn-key rent-stabilized investment property with $110,000 in gross income and eight (8) Class-A studio apartments. Taxes are very low, only $425 / month. There is enormous potential for growth in rents over the next 5-10 years. Email for full property setup PDF.
Important information: The current owner has made several significant capital improvements to this property including but not limited to: new roof, french drains in the cellar, newly renovated apartments 2 and 4, a new convenience staircase from cellar (to access garden without needing to go through apartments), waterproofing for the front and rear of the building, new fencing, new concrete deck in garden, CCTV wiring, new LED fixtures, paint, and flooring in the common hallways, two new front entry doors, new baseboard heating for all units, and a newly repointed the back facade. These are enormous improvements that the new buyer will benefit from and should be carefully considered when comparing other investment properties for purchase.
The block, West 142nd Street between Broadway and Amsterdam, is made of fully contiguous brownstones, is tree-lined, and is very beautiful! The property is in close proximity to the 1/A/B/C/D trains and a short walk to Fairway, Riverbank State Park, and the Sugar Hill Historic District.
