197 Edgecombe AveNew York, NY 10030

This exceptional 4-story, 12-unit mixed-use brownstone presents a compelling value-add investment opportunity in the vibrant Hamilton Heights neighborhood of Central Harlem, New York City. Spanning 3,876 square feet on a 1,666 square foot lot, this property boasts significant potential for increased profitability. Currently operating at 20% occupancy with 9 vacant rooms, the building offers immediate upside. Built in 1901 and renovated in the 2000s, the property features modern kitchens (3) and bathrooms (4), a new roof (2023), a recently updated gas water heater and boiler (2019), and a new main electrical panel with circuit breakers on each floor. Energy-efficient windows and sprinkler systems are installed throughout. The building retains some beautiful 19th-century architectural details, including a skylight illuminating the period stairwell. A private rear yard reveals a 3-story building extension. Zoned R6A, the property has a Floor Area Ratio (FAR) of 2.33, with potential to increase to 3.0, allowing for future expansion. Conveniently located near the Dance Theatre of Harlem, historic districts, libraries, houses of worship, schools, shops, and abundant public transportation (Bx19, M3, M10, x59, x84 buses and A, B, C, D, 1, 2, 3 subway lines), this property offers unparalleled convenience and accessibility. Estimated 2024/25 expenses include real estate taxes of $38,600, insurance of $8,000, water of $4,000, and utilities of $10,000. This is a rare opportunity to acquire a well-maintained property in a prime location with significant upside potential. The property is offered at $1,688,000.