1991 Madison Avenue   Unit BUILDING

Turn-key free-market townhouse with cash flow from day one!

1991 Madison Avenue is an extraordinary find in today's market: a beautiful corner multi-family in prime Harlem which maximizes income-producing space. Renovated and meticulously well-maintained and well-operated, this four-unit townhouse has three exposures (north, east and west) and is overflowing with windows that flood all apartments with light and a fresh cross breeze.

Its exceptional bones combined with great location and access to transportation make this property perfect for any of three uses:

1) PRIMARY RESIDENCE: Call this property home, live in one of the four units and rent out the other three units to cover your monthly expenses and produce excess income.

2) INVESTMENT: Rent out all four units and enjoy high cash flow and long-term capital gains.

3) CONDO CONVERSION: Maximize the buildable SF and number of units and create a boutique condominium that capitalizes on the property's dormant value and produces an outsized return on investment.

Building highlights:

-All units free market
-Low taxes + 2A protected tax class
-5.5% cap rate (with all units rented) before value added.
-Nearly 20 ft. wide building
-Triple exposure + three units with BOTH corner bedrooms AND corner living rooms
-Light-filled spaces with scores of large windows everywhere
-Four stories + a full height basement
-Building SF ~ 5,000SF (not including basement)
-Extra high ceilings
-Hardwood floors
-Two potential outdoor spaces
-Laundry in the building
-Renovated
-New roofs

Apartments & sizes:
1 - 'L' shape Studio (Jr. 1BR) ~ 550SF
2 - Duplex 3BR, 2 Bath ~ 2,130SF
3 - Oversized 1BR with E.I.K. ~ 1,100SF
4 - Oversized 1BR ~1,050SF

This location is ideal for commuters with the express and local subway lines 2, 3, 4, 5, 6 and Metro North only blocks away and LaGuardia airport just a 20-minute drive across the nearby RFK Bridge. 1991 Madison is also situated between Marcus Garvey and Harlem River Parks for outdoor lovers and within a short distance of some of the best restaurants, museums, and stores in Upper Manhattan.

To schedule a private showing of this outstanding property please call us today!