Nestled on one of the Upper West Side's rare cul-de-sac blocks, 349 W 71st Street presents a unique investment opportunity for the discerning buyer. This charming townhouse, originally built over a century ago, offers both the potential for luxurious single-family living and significant rental income. The vacant duplex, spanning over 2, 500 square feet, can be easily transformed into a stunning 4-bedroom, 3-bathroom residence, complete with exposed brick, original woodwork, high ceilings, and working wood-burning fireplaces. Above, the property includes three studio apartments and one one-bedroom apartment, all at market rate rent, each featuring these same character-filled details. The recently renovated basement apartment boasts a sleek Boffi kitchen, modern finishes, and is poised to command premium rent. Adding to the appeal, the property includes valuable air rights allowing for an additional two stories, providing even greater flexibility for expansion. Located just steps from Riverside Park and a short walk from Central Park, this home offers easy access to the natural beauty and recreational spaces that define the Upper West Side. The 72nd Streetsubway station (1, 2, 3 lines) is just minutes away, providing quick access to the rest of the city. Cultural landmarks such as The Metropolitan Opera House at Lincoln Center are nearby, ensuring you're never far from world-class performances, dining, and shopping. Whether you're an investor seeking strong rental income or a buyer looking to create your dream home, 349 W 71st Street offers endless possibilities in one of New York's most coveted locations. Come see what this magical property is all about! Contact the listing agent directly for a private showing.
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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 | $4,720,000 | $4,720,000 | $4,720,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.500% | 6.250% | 5.750% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.821% | 6.396% | 5.990% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $26,800 | $29,062 | $39,195 |
Total Monthly Payment | $26,925 | $29,187 | $39,320 |
* 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.