458 West 51st Street is a four story apartment building located on a tree-lined street in Hell’s Kitchen.
The building is currently divided into 5 incredibly well-maintained apartments all of which are free market.
Apts 3, 4, and 5 each have 2 bedrooms plus a home office/den with radiator heating and a wall mounted air conditioner. Kitchens and bathrooms have been renovated and have stainless steel appliances. Each apartment features their own washer/dryer, high ceilings, exposed brick, and recessed lighting.
Apt 2 is a large one bedroom with a home office/den located on the parlor level with extra high ceilings. This apartment has also been renovated and has the same finishes as the 2 bedroom apartments.
Apt 1 is the garden apartment which is also a one bedroom with a home office/den and has a spacious private backyard which is almost 1,000 sq ft.
This is a great opportunity for a sold return now, with potential for increased rents. Enjoy reduced monthly expenses as there are separate electric heating systems installed in each unit which tenants are responsible for paying. Very large backyard with an opportunity to build on along with about 8,000 SF of additional air rights. Check with an architect.
The building is walking distance to the E, C, B, D, A and 1 trains. A 1031 exchange or a potential developer will find great upside here.