This week's Fixer Upper find is a 2BR located at
34-15 74th Street, 6E in the Jackson Heights neighborhood of NYC listed for just $399k. Renovated 2BR/1BA homes in this neighborhood are going for upwards of $600k, so there's a good $200k of instant equity on the line for some lucky buyer to tap and renovate a home exactly to your taste. Let's take a look.
There's no floorplan available in
the real estate listing, which is always disappointing. Online research failed to turn any up. But we can get a pretty good idea of the space just from looking at the photos in the post. If you're familiar enough with the architecture of Jackson Heights, you might guess that it looks something like this and you wouldn't be far off the mark.
Typical of Jackson Heights two bedroom co-ops, there's a sizable foyer as you enter, and generously proportioned living room and adjacent master bedroom.
Plus a smaller but still good size second bedroom.
Both bedrooms have two exposures, and there are ample closets throughout.
The plaster looks to be in surprisingly excellent shape, leaving one to conjecture it was recently skim-coated. The hardwood floors, too, look to be in very good condition. You'll want to hit them with a light sanding and refinish with a matte shine and they'll look like new for the next 20 years.
The kitchen needs a gut renovation, but you expected that for this price.
If those walls are not load-bearing and if the co-op board approves, annex some foyer space as your new eating area overlooking an open kitchen island.
The bathroom isn't pictured at all, so we can assume it needs an overhaul, as well. Is this home in estate condition? Definitely. But it has promise.
It's in a pet-friendly elevator building with a private garden and an on-site super — and in a great location, blocks away from an express train hub.
The 1952 building was designed by architect Philip Birnbaum, who in his later, more seasoned years went on to design Trump Tower.
I don't have insider info on this co-op to speculate on the strength of its finances; that's something a prospective buyer will need to look into. As always when purchasing real estate, your due diligence is required. The maintenance at $910 a month is lower than most other 2BR/1BA co-ops in the neighborhood, yet the public areas of the building appear to be well-maintained.
At this price, the home is definitely worth a closer look.
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