58-25 79th Avenue, Glendale, NY 11385

Property Description

ACCEPTED OFFER AND CONTRACTS OUT. SHOWING FOR BACKUP ONLY. This well-located home in the heart of Glendale has no tenants, and will be delivered completely vacant. Come view it, make an offer, and let's put a deal together. This legal two-family (or three with ground floor"in-law" apartment) is waiting for a new owner, whether to live in or to rent out. It needs cosmetic updates -- new appliances, kitchen cabinets, refinished floors, etc. -- but is in excellent structural and mechanical condition. The roof was replaced two years ago, with two new skylights, new gutters, and the work is backed by a ten-year warranty. The facades were also repointed, and the lintels rebuilt. The mechanicals -- boiler, water-heater, windows and doors -- have been well-maintained and are in working order. This house merely needs some cosmetic renovations to the kitchens, floors, and changes to the baths to suit the taste of the new owner. This three story attached row-house features two, 2 BR upper units, each with a large living room, kitchen, full bath with soaking tub, and two bedrooms. The first floor has a stairway to the backyard, with a stairway leading from one rear bedroom. The ground floor can be another bedroom or office, a large living room facing the rear yard, and a full-bath with stall-shower. It has a street-level entrance at both the front and back. There is a gated driveway in front of the building, which can be reconfigured to hold two parked cars. Any and all offers will be considered. This property has no outstanding NYC Dept. of Buildings issues, the Certificate of Occupancy is valid. Thus a credit-worthy buyer should have no problems securing mortgage financing. It is priced to offer a cash-on-cash return of over 7%+ to a new owner who rents the entire building out as an investment. Please contact Listing Agent Jeff for a private showing, or to attend the Open House.