316 West 78th Street is a classic Renaissance Revival-style townhouse designed by the architect George F. Pelham in 1895. The property consists of 8 rental units, including a beautifully renovated, 3-bedroom owner’s duplex with the landscaped, south-facing garden. This unit can easily be combined with unit 2R for another half floor of living space. Other units are well-maintained and have been recently updated, as has the bright, spacious and clean hallways/common spaces. 4 of the 8 units are free market, the other 4 are rent stabilized.
The high rent roll, premier townhouse block, turn-key condition of the building, and long-term upside make this property a lucrative investment opportunity. The spacious and renovated owner's duplex offers the ability to live expense free.
This property is located in close proximity to Central and Riverside Parks, public transportation, the Museum of Natural History, and some of the best dining, schools and retail the City has to offer.