314 West 142nd Street
Multifamily | 20 Units | $247,500/unit
Marketing description
The New York Multifamily Team at Marcus & Millichap is pleased to present 314 West 142nd Street, a predominantly free-market walk-up in the heart of Harlem. Situated between Frederick Douglass Boulevard & Bradhurst Avenue, this asset is composed of 20 apartments and spans 8,400 square feet.
Professionally owned and operated by the same family for nearly 40 years, this 90% free market property offers investors a rare opportunity to acquire a largely unrestricted rent roll, with 18 of its 20 units unencumbered by rent stabilization.
With an average rent of $2,026 per apartment, this asset is composed of a favorable unit-mix of 10 studio, 1 one-bedroom, and 9 two-bedroom apartments.
314 W 142nd Street is ideally located near the City College of New York, St. Nicholas Park, and the 145th Street train station.
Investment highlights
- This 20 unit walk-up comprises 10 studio, 1 one-bedroom, and 9 two-bedroom apartments with an average rent of $2,026 per month.
- 18 of the building's 20 apartments are free market, providing investors with a clear path to future rent growth.
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