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Multifamily W/ Retail | FOR SALE

$2,295,000

2290 2nd Avenue, New York, NY 10035

Active
Last Updated: 06/13/2024

5.5

Cap Rate

127,251

NOI

Details:
Cap Rate:    5.5%
NOI:    $127,251
Building Size:    8,545 sqft
Lot Area:    2,512 sqft
Units:    12
Year Built:     1920
Price Per Sqft:    $269
Price Per Unit:    $191,000
Zoning:    R9A, C2-5, EHC/TA
Description:

10 residential apartments and two storefronts located on second avenue just North of East 117th Street in NYC's East Harlem neighborhood.

Ownthis 12-unit mixed-use asset located in the East Harlem neighborhood of NYC on the east side of Second Avenue and just north of East 117th Street.

The subject property consists of two studio apartments, eight one-bedroom units (including the super's unit), and two ground-level storefronts.

Features in this brick and stucco building include clean, spacious apartments, a tile lobby, original finishes, steel and marble staircase, an intercom system, repaired and painted fire escapes (maintained every 3-5 years), separate gas and electric meters for retail, a recently serviced boiler, a 500-gallon enclosed (#2) oil tank, and a silver coat/paper roof.

Tenants enjoy ample shopping, dining, and entertainment options, including Rao's, Patsy's Pizzeria, Santiago's Beer Garden, Ricardo Steakhouse, Foodtown Supermarket, and much more.

There is a subway station at E116th and Lexington, and Phase II of the Second Avenue subway line is under construction and will feature a station 1.5 blocks from the subject at E116th and Second Avenue.

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