For Sale, Open House in For Sale
$ 4,888,888
324 E 116th St,
East Harlem, New York
About this property
Originally a 3 family property, this exquisite rental building has just been converted into 9 brand new gorgeous apartments and a retail store. Located in the East Harlem neighborhood of Manhattan between 2nd Ave and 1st Ave. Laundromat is only 3 doors down and the 6 trains at 116th St & M106 bus line are only steps away. One of a kind opportunity for investors as this building boasts a 6.87% CAP RATE!
This property features:
– Contemporary designs finished with a European flair
– BRAND NEW Intercom system
– BRAND NEW ductless heating/cooling units in every room
– Original expanded brownstone windows restored
– Loft-like ceiling heights
– Queen/King size Bedrooms with spacious living rooms
– Kitchens feature stainless steel appliances & granite countertops
– Dishwashers in every unit
– Bathroom vanities showcase brass finishes
– Deep Soaking Tubs in each unit
– Unit 1A is a 2BR/2BTH Duplex
– Units 2 & 3 are 3BR/3BTH layouts
– Units 4A, 4B, 5A, 5B, 6A & 6B are all 1BR/1BTH layouts
– Retail store has lease expiring in 2027; store has half bath
Other features: all brand new mechanicals; energy efficient building; tenants responsible for their own utilities except water; Units 1A, 2 and 3 are vacant until December 2022.
Lot: 20 x 100.92 ft
Bld: 20 x 53 ft
Zoning: R7B
FAR: 1.54; Max FAR: 3
Taxes: $18,291/Yr
Amenities and Features
