1180 Grant Ave, New York, NY 10456

Description

Welcome to this exceptional legal 4-family home, an ideal opportunity for both investors and developers. This property offers a unique blend of luxury and high rental income potential, making it perfect for those looking to maximize their investment. Each of the four spacious units features two bedrooms and one bathroom, boasting charming hardwood floors, bright and airy living spaces, and windowed kitchens equipped with modern amenities, including stainless steel appliances and dishwashers.

Spanning a rare 4,968 square feet and zoned R7-1, this property presents a prime development opportunity for savvy investors looking to capitalize on its full potential. Recent upgrades enhance the building’s value, including a new boiler and hot water tank, updated plumbing and electrical systems, and a sprinkler system for added safety. Additionally, split AC units provide heating and cooling, allowing the option to turn off the landlord’s central heating and have tenants cover their heating costs.

A fully renovated basement, currently used as an office, features a separate entrance leading to a shared laundry room and storage area. The spacious backyard, currently utilized for parking, offers additional convenience and potential for further enhancements. With the City of Yes initiative, there is an exciting opportunity to increase the rent roll by optimizing the walk-out basement—be sure to check out the online video for inspiration.

Tenants are responsible for electric and gas utilities, making this an efficient and low-maintenance investment. Situated near vibrant Morris Avenue, this home is surrounded by trendy restaurants, cafes, local shops, parks, and excellent transportation options.

Don't miss the chance to own this remarkable multi-family property in a sought-after location. Whether you're an investor seeking strong returns or a developer looking to unlock its full potential, this is an opportunity you won’t want to miss!