176 110Th StNew York, NY 10029

For Sale
$4,200,000

20 Units, 3 Retail, Prime Location

Overview

Added:
Dec 11, 2024
Days on market:
96
This exceptional mixed-use property at 176 East 110th Street (also known as 2000-2002 3rd Avenue) in East Harlem, New York, presents a compelling investment opportunity. The building boasts 20 rent-stabilized apartments and three retail units, strategically positioned on a prime corner of 3rd Avenue within a vibrant commercial district filled with numerous shops and restaurants. Currently, there is one vacant apartment and two owner-occupied units to be delivered vacant, offering significant potential for value enhancement through increased rental income. Recent capital improvements include the installation of new boilers. One retail tenant contributes 12.5% towards the real estate taxes, further enhancing the property's financial performance. The building's convenient location near Marcus Garvey Park, Central Park North, and just half a block from the 4-6 subway lines ensures strong tenant demand and accessibility. The asking price for this multifamily investment is $4,200,000. This property offers a strong foundation for a savvy investor seeking a value-add opportunity in a prime East Harlem location with excellent market fundamentals.

Highlights

  • $4,200,000 asking price for a mixed-use building in East Harlem, NY.
  • 20 rent-stabilized apartments and 3 retail units.
  • Value-add opportunity with one vacant apartment and two owner-occupied units to be delivered vacant.
  • Recent improvements include new boilers; one retail tenant pays 12.5% of real estate taxes.
  • Prime corner location near Marcus Garvey Park, Central Park North, and the 4/6 subway lines.

Location Insight

City
New York
County
New York
State
New York
Latitude
40.7941386
Longitude
-73.9430737
176 110Th St, New York, New York

FAQs

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176 110Th St
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