2004 Madison Avenue is an exceptional opportunity for investors seeking a turn-key 4-family townhouse in the heart of Central Harlem. This 3, 600 sq. ft. multifamily walk-up boasts four spacious units and approximately 20 feet of frontage on a charming, quiet residential block. Positioned near the 2 and 3 subway lines at West 125th Street and Lenox Avenue, along with several bus routes, this property offers convenient access to all that Manhattan's most dynamic and rapidly growing neighborhood has to offer. The building spans six stories and includes a variety of unit configurations. The garden level features a duplex unit with access to the cellar, while the parlor floor hosts a two-bedroom, one-bath floor-through. Two additional three-bedroom, two-bath duplexes offer ample living space, with shared access to the garden for all tenants and a private roof deck for the top-floor duplex. Each unit benefits from its own newly installed gas boiler, ensuring modern efficiency and convenience. The property will be delivered with one vacant duplex unit and three rent-paying tenants in place. 2004 Madison Avenue is just steps away from Harlem's vibrant Restaurant Row and the bustling shopping and entertainment options along 125th Street. The building is also conveniently located near transportation options, including the 2/3 and B/C subway lines, the M2, M7, and M101 bus lines, and Metro North. For outdoor recreation, residents can enjoy proximity to both Mount Morris Park and Morningside Park. This property will be delivered with all necessary paperwork and free-market tenants in place. Showings are by appointment only. Please call or email today to schedule your viewing.
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.Alvarez@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $1,599,200 | $1,599,200 | $1,599,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.375% | 6.125% | 5.625% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.769% | 6.270% | 5.864% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $8,955 | $9,717 | $13,173 |
Total Monthly Payment | $9,080 | $9,842 | $13,298 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.