New York, NY 10461

Property

Ownership: For Sale
Type: Unknown
Bedrooms: 5 BR
Bathrooms: 2
Pets: Pets No
Lot Size: 0.06 Acres

Financials

Price:$1,199,000
Annual Taxes:$6,698.36
505 Park Ave, New York, NY 10022
Listing Courtesy of Century 21 Galvez

Description

Perfect Opportunity for First-Time Buyers & Aspiring Landlords – Fully Renovated 2-Family Home with Strong Rental History Step into homeownership *and* investment with this **magnificent 2-family property**, ideal for the first-time buyer ready to test the waters of becoming a landlord. With a **proven track record as a self-managed, income-producing property**, this home has given its current owners the **freedom to live anywhere** their hearts desired—while still collecting **top market rents** from a highly desirable neighborhood. Tucked away on a **secluded block**, this property offers a rare combination of **peace and privacy**, yet just **two blocks away**, tenants and owners alike enjoy immediate access to everything that makes city living convenient and attractive: **supermarkets, boutiques, top restaurants, laundry services, and a major MTA hub**. It’s urban living with a neighborhood feel—exactly what renters are looking for, and what smart investors dream of. Spanning nearly **3,000 sq ft** on a **49 ft x 50 ft lot**, the layout is thoughtfully designed with both comfort and functionality. The home features **fully renovated apartments**, crafted with **high-end materials** and **expert-level craftsmanship**. From the **custom moldings** installed by a master craftsman to the **fresh paint and elegant finishes**, this is a turn-key opportunity you can be proud to own. Parking is never an issue, with a **smartly designed triple-driveway setup**—allowing for up to **five cars** on-site. Additional highlights include **gas heat**, a **third electric meter ready for future use**, and exciting zoning potential, thanks to the recently approved **City of Yes** initiative. Be sure to speak with your licensed real estate professional about how this could expand your usage options and future value. Whether you choose to live in one unit and rent the other, or use both for passive income, this home is more than just a smart investment—it’s your gateway to financial freedom. Privacy, profit, and prime location—all in one. Welcome to your next chapter.

Amenities

  • Awnings
  • Back Yard
  • ENERGY STAR Qualified Windows
  • Natural Gas Connected
  • Storage

Perfect Opportunity for First Time Buyers amp ; Aspiring Landlords Fully Renovated 2 Family Home with Strong Rental History Step into homeownership and investment with this magnificent 2 family property, ...


    Long Island MLS

    All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

    All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.