311 West 139th Street
Multifamily | 11 Units | $181,818/unit
Marketing description
Besen Partners, as exclusive agent for Ownership, is pleased to offer for sale 311 West 139th Street, New York, NY 10030 (the “Property”) located on the north side if West 139th Street between Edgecombe Avenue and Frederick Douglass Boulevard in the Harlem neighborhood of Manhattan.
The subject property is a 3-story 3,400± SF multifamily building built on a 1,699± SF lot. Zoned R7-2 with 11 residential units. 2 blocks from 135th Street [A, B, C] subway station.
Investment highlights
100% occupied providing stable cash-flow
9-out-of-11 studio units (82%) are averaging $1,967/month (FHEPS Program)
Recent renovations of ~$500,000 include new roof, new boiler, new floors & appliances
Well-maintained property requiring minimal near-term capital and low maintenance costs. Minimal violations.
Tax Class 2B preserves a low and stable expense ratio, as well as capping increases in assessed values
Quiet tree-lined street located 1-block from St. Nicholas Park
Four blocks from the 135th Street [C,B] Subway Station
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