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414 East 115th St., New York, NY 10029

$2,098,000
Active Listing
Listing Details:
$2,098,000 Price
Single-Family Townhouse Property Type
East Harlem Neighborhood
11 Beds
4 Baths
5,500 Approx. Sq. Ft.
$192 RET
Key Features:
Prewar
Allows Pets
Rooftop Access
Unit Terrace
Description:

One of a kind 4 units, free market, low taxes townhouse!


On one of the most desirable blocks in the heart of East Harlem.
With 10-15 new developments in a 5 block radius and many more in the pipeline this is one of the most active areas in Manhattan, including large box stores like Costco. This area is absolutely incredible.


Endless possibilities for different experience levels of investors!
Options:
- Renovate the PH and create your own PH with a private roof terrace! and 3+ income producing apartments.
- Renovate existing structures and create a nice multi unit rental property.
- Convert the building to a luxury multi unit 7-8 condominium.
and many more options...


Lot size: 18.75 x 100.92
Building size: 18.75 x 58
Zoning: R7B
FAR: 3


Projected rent role after renovations keeping the same structure: ~150K yr
Projected rent role After converting to a 5-8 unit rental: ~220K yr
Projected sell out for a condo keeping existing structure: ~4.8M
Projected sell out for a condo with maximizing the FAR: ~6.2M


Please call us today to arrange a private showing.


Two units occupied


Two vacant

Listing courtesy of Compass

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