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- LoopNet Team
350 E 116th St
New York, NY 10029
Multifamily Property For Sale
·
3 Units
PROPERTY FACTS
| No. Units | 3 | Lot Size | 0.04 AC |
| Property Type | Multifamily | Building Size | 3,750 SF |
| Property Subtype | Apartment | Average Occupancy | 100% |
| Apartment Style | Mid-Rise | No. Stories | 4 |
| Building Class | C | Year Built/Renovated | 1900/2016 |
| Zoning | R7-2 - Medium-Density Apartment House District with Lower Parking Requirements. | ||
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.04 AC |
| Building Size | 3,750 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built/Renovated | 1900/2016 |
| Zoning | R7-2 - Medium-Density Apartment House District with Lower Parking Requirements. |
AMENITIES
UNIT AMENITIES
- Grill
- Garden
ABOUT 350 E 116TH ST , NEW YORK, NY 10029
NEW CAP RATE + POTENTIAL.....350 East 116th Street is a four (4) story mixed-use brownstone containing two (2) free market apartments and a retail store. The property underwent a renovation two years ago and is in excellent condition. The Retail is leased through June 2021 with a gross monthly rent is $2,300 and $2,000 per year in taxes. Apartment 1 is a sun drenched large 1 bedroom overlooking the private garden, which benefits from fantastic southern light. Monthly rent: $1,700 on a month to month lease (under market rent in exchange for month to month) Apartment 2 is an enormous duplex, 3 bedroom/2 bathroom, easily could have an additional bedroom. Abundant light from Northern and Southern exposures. Monthly rent: $3,927/month just signed for April 2019. Both residential tenants have access to the exclusive, well maintained garden with two grills. All three (3) tenants are billed directly for heat and hot water, hence 3 boilers, 3 hot water heaters and 4 electric meters (one of common areas). 350 East 116th Street is a short walk to the 6 the train and is located in Prime East Harlem on the south side of East 116th Street between Second and First Avenue. Conveniently surrounded by neighborhood favorites, a 5 minute walk takes you to the famed East River Plaza, offering Costco, Target, Burlington, Planet Fitness, and a ten minute walk takes you to Whole Foods. Asking $406/PPSF buildable, or $546/ppsf as built, this is an incredible opportunity to own a great building in a bustling, growing neighborhood.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | $1,700 | 845 |
| 3+2 | 1 | $3,927 | 1,690 |
PROPERTY TAXES
| Parcel Number | 1687-0133 | Improvements Assessment | $74,372 |
| Land Assessment | $10,902 | Total Assessment | $85,274 |
PROPERTY TAXES
