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Listing Courtesy of Compass
$ 3,750,000
Est. payment /mo
New
2049 2nd Avenue Manhattan, NY 10029
8 Beds
14 Baths
8,530 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 8,530 sqft
Price per Sqft $439
Subdivision East Harlem
MLS Listing ID RLS20036929
Style Walk-Up
Bedrooms 8
Full Baths 14
HOA Y/N Yes
Year Built 1900
Annual Tax Amount $97,200
Property Sub-Type Multi Family
Property Description
- Mixed-Use Free-Market Investment Property FOR SALE in the heart of vibrant East Harlem on the Northwest Corner of East 105th Street & 2nd Avenue
- 12 Residential Units above a Commercial Space (currently being occupied by a Mexican Restaurant paying over $130k/annually btwn base rent, tax contribution, and utility reimbursements)
- Residential Apts. consist of 3 different layouts with 4 identical units each: studio alcove, one-bedroom, and one-bedroom with home office
- Perfect time to invest in this neighborhood is now since the upcoming 2nd Avenue subway extension up to 125th Street will make this property explode & gentrify twofold
- Live-In Super and carefully maintained throughout the years
- Recent improvements within the last 4 years include: (1) boiler upgrades (2) roof replacement & waterproofing (3) lobby & hallway renovations (new tile floors & complete re-painting of metal pan stairs, apt entry doors, ceilings & walls) (4) new lighting (5) new kitchens, baths, & refinished oak floors inside of select units (6) new EIFS/Stucco & Waterproofing facade system on side & rear (7) brick repointing & power-washing
- this building also underwent an Alteration Type I Permit in 2022 for the removal of lot line windows to make ready for new 25k buildable adjacent development site (also owned by same seller on the market and willing to do a package deal for both building & lot). Inquire with listing broker
- With over $260K NOI, an asking cap rate of approx. 7%, and recent improvements done over the last 4 years this is turnkey to the new investor making it priced to sell
- Setup sheet available upon request depicting gross rent roll, operating expenses, and net income
- Seller also has the adjacent development site at 2047 for sale with approx. 25k buildable including air rights from this building and willing to do a package deal (further information available upon request)
- 12 Residential Units above a Commercial Space (currently being occupied by a Mexican Restaurant paying over $130k/annually btwn base rent, tax contribution, and utility reimbursements)
- Residential Apts. consist of 3 different layouts with 4 identical units each: studio alcove, one-bedroom, and one-bedroom with home office
- Perfect time to invest in this neighborhood is now since the upcoming 2nd Avenue subway extension up to 125th Street will make this property explode & gentrify twofold
- Live-In Super and carefully maintained throughout the years
- Recent improvements within the last 4 years include: (1) boiler upgrades (2) roof replacement & waterproofing (3) lobby & hallway renovations (new tile floors & complete re-painting of metal pan stairs, apt entry doors, ceilings & walls) (4) new lighting (5) new kitchens, baths, & refinished oak floors inside of select units (6) new EIFS/Stucco & Waterproofing facade system on side & rear (7) brick repointing & power-washing
- this building also underwent an Alteration Type I Permit in 2022 for the removal of lot line windows to make ready for new 25k buildable adjacent development site (also owned by same seller on the market and willing to do a package deal for both building & lot). Inquire with listing broker
- With over $260K NOI, an asking cap rate of approx. 7%, and recent improvements done over the last 4 years this is turnkey to the new investor making it priced to sell
- Setup sheet available upon request depicting gross rent roll, operating expenses, and net income
- Seller also has the adjacent development site at 2047 for sale with approx. 25k buildable including air rights from this building and willing to do a package deal (further information available upon request)
Location
State NY
County New York
Interior
Heating Baseboard
Cooling Wall Unit(s)
Flooring Hardwood, Tile
Furnishings Unfurnished
Fireplace No
Appliance Dishwasher, Freezer, Gas Cooktop, Refrigerator, Stainless Steel Appliance(s)
Laundry See Remarks
Exterior
View Y/N No
Private Pool No
Building
Story 5
New Construction No
Others
Ownership None
Monthly Total Fees $8, 100
Pets Allowed Building No, No
RLS Data display by Elegran Real Estate
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