Listed by Compass Global Headquarters
$16,999,900
Harlem Multi-Family Package - Portfolio
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 22,951
Units 24
NOI $789,172
Occupancy 100%
Multifamily | 24 Units
Marketing description
We have been exclusively retained to arrange the sale of an exceptional 3 property portfolio in Prime Central Harlem.
Accretive assumable long-term debt with a senior mortgage of approximately $10M at an interest rate of 3.43% maturing in 2032
Investment highlights
- Minimal Maintenance
- All utilities paid by tenants providing low expense
- Low Interest rate assumable mortgage - matures 2032
- 3 Properties
- Total Units: 24 total - All free market
- 675- 1200 ft. units
- Buildings are 23 - 25 ft wide
- Proximity to all transportation and hospitality highlights in Harlem
- Central AC
- Common bike storage
- Unit combinations possible
- High ceilings
- Roof deck
- Independent climate control
- Lease Status: 100% leased
- Rent: In-place rents average $60 per square foot
- Six renewals before January 2026.
- Whole Foods, Trader Joe's, and Sephora are walking distance.
- The Apollo Theater, Studio Museum of Harlem and The Schomburg Library provide the culture one craves.
- The area features ample parks and green space, offering a serene residential environment with excellent public transportation options.
- These properties present a unique opportunity for investors seeking fully leased, free-market assets in a desirable location. With the close proximity of each building central management will be effective and affordable.
- Harlem has seen itself reborn back in to the culture mecca.
- Rents are below market. With limited work you can project a much high rent roll.
- 240 Lenox Ave - New York, NY 10027
- Ann Income - $283,200
- Expenses: $46,403
- Net Income: $236,797
- 2064 Fifth Ave - New York, NY 10027
- Ann Income - $384,900.00
- Expenses: $65,457.00
- Net Income: $319,443.00
- 56 East 130th St - New York, NY 10035
- Ann Income - $377,028.64
- Expenses: $104,457.00
- Net Income: $272,572.00
- SEE ATTACHED FLYER
Listing Contacts
Listed by Compass Global Headquarters
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$789,172.00
$65,764.33/mo
Valuation Metrics
0
DSCR
4.64%
Cap Rate
4.64%
ROI
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