Building
| Type: | Townhouse |
|---|---|
| Era: | Post-war |
| Floors: | 4 |
Property
| Ownership: | Multi-Family |
|---|---|
| Rooms: | 12 |
| Bedrooms: | Studio |
| Pets: | Pets Unknown |
FinancialsPrice: $2,495,000
| Price: | $2,495,000 |
|---|
505 Park Ave, New York, NY 10022 Phone: +1212-252-8772 | |
| Courtesy of Compass | |
DescriptionIntroducing a distinguished income-generating property at 273 Pleasant Ave, nestled in the vibrant neighborhood of East Harlem.
This prime free market, value-add property is ready for a new owner seeking either passive income or a redevelopment opportunity. The property features One 1 bed, 1 bath and Three 2 bed, 1bath apartments. There are 13-foot ceilings on the 2nd floor, exposed brick a delightful rear garden for the first floor tenant and an offering of everyday conveniences central to this pocket of Harlem.
273 Pleasant Ave offers four fully free-market units, offering versatility and the potential for substantial income. Rents are current and roughly 52% below market rate for comparable renovated units. Located near the beautiful Thomas Jefferson Park which offers numerous sports fields, a dog park, and community pool on the Harlem River waterfront. The property is also located at the doorstep of the Manhattan Center for Science and Mathematics, as well as the iconic (and impossible to get a reservation) Rao’s Italian restaurant.
Offering an impressive proforma cap rate of 5.5% and situated between two properties that are in the process of being redeveloped, this property has can be delivered vacant, or with tenants in place to maintain cash flow while the purchaser finalizes plans to reposition the property.
Seize this excellent opportunity to invest in East Harlem — a property that promises not just returns but also the potential to make a unique mark in a thriving community.
**As per owner, no access will be allowed until after accepted offer.**
Amenities- Gas
- Voice Intercom
- Walk-up
Neighborhood
Introducing a distinguished income-generating property at 273 Pleasant Ave, nestled in the vibrant neighborhood of East Harlem. This prime free market, value-add property is ready for a new owner seeking either passive income or a redevelopment opportunity. The property features One 1 bed, 1 bath and Three 2 bed, 1bath apartments. There are 13-foot ceilings on the 2nd floor, exposed brick a delightful rear garden for the first floor tenant and an offering of everyday conveniences central to this pocket of Harlem. 273 Pleasant Ave offers four fully free-market units, offering versatility and the potential for substantial income. Rents are current and roughly 52% below market rate for comparable renovated units. Located near the beautiful Thomas Jefferson Park which offers numerous sports fields, a dog park, and community pool on the Harlem River waterfront. The property is also located at the doorstep of the Manhattan Center for Science and Mathematics, as well as the iconic (and impossible to get a reservation) Rao’s Italian restaurant. Offering an impressive proforma cap rate of 5.5% and situated between two properties that are in the process of being redeveloped, this property has can be delivered vacant, or with tenants in place to maintain cash flow while the purchaser finalizes plans to reposition the property. Seize this excellent opportunity to invest in East Harlem — a property that promises not just returns but also the potential to make a unique mark in a thriving community. **As per owner, no access will be allowed until after accepted offer.**
- Gas
- Voice Intercom
- Walk-up
Neighborhood
Introducing a distinguished income generating property at 273 Pleasant Ave, nestled in the vibrant neighborhood of East Harlem.
DescriptionIntroducing a distinguished income-generating property at 273 Pleasant Ave, nestled in the vibrant neighborhood of East Harlem.
This prime free market, value-add property is ready for a new owner seeking either passive income or a redevelopment opportunity. The property features One 1 bed, 1 bath and Three 2 bed, 1bath apartments. There are 13-foot ceilings on the 2nd floor, exposed brick a delightful rear garden for the first floor tenant and an offering of everyday conveniences central to this pocket of Harlem.
273 Pleasant Ave offers four fully free-market units, offering versatility and the potential for substantial income. Rents are current and roughly 52% below market rate for comparable renovated units. Located near the beautiful Thomas Jefferson Park which offers numerous sports fields, a dog park, and community pool on the Harlem River waterfront. The property is also located at the doorstep of the Manhattan Center for Science and Mathematics, as well as the iconic (and impossible to get a reservation) Rao’s Italian restaurant.
Offering an impressive proforma cap rate of 5.5% and situated between two properties that are in the process of being redeveloped, this property has can be delivered vacant, or with tenants in place to maintain cash flow while the purchaser finalizes plans to reposition the property.
Seize this excellent opportunity to invest in East Harlem — a property that promises not just returns but also the potential to make a unique mark in a thriving community.
**As per owner, no access will be allowed until after accepted offer.**
Amenities- Gas
- Voice Intercom
- Walk-up
Neighborhood
Introducing a distinguished income-generating property at 273 Pleasant Ave, nestled in the vibrant neighborhood of East Harlem. This prime free market, value-add property is ready for a new owner seeking either passive income or a redevelopment opportunity. The property features One 1 bed, 1 bath and Three 2 bed, 1bath apartments. There are 13-foot ceilings on the 2nd floor, exposed brick a delightful rear garden for the first floor tenant and an offering of everyday conveniences central to this pocket of Harlem. 273 Pleasant Ave offers four fully free-market units, offering versatility and the potential for substantial income. Rents are current and roughly 52% below market rate for comparable renovated units. Located near the beautiful Thomas Jefferson Park which offers numerous sports fields, a dog park, and community pool on the Harlem River waterfront. The property is also located at the doorstep of the Manhattan Center for Science and Mathematics, as well as the iconic (and impossible to get a reservation) Rao’s Italian restaurant. Offering an impressive proforma cap rate of 5.5% and situated between two properties that are in the process of being redeveloped, this property has can be delivered vacant, or with tenants in place to maintain cash flow while the purchaser finalizes plans to reposition the property. Seize this excellent opportunity to invest in East Harlem — a property that promises not just returns but also the potential to make a unique mark in a thriving community. **As per owner, no access will be allowed until after accepted offer.**
- Gas
- Voice Intercom
- Walk-up
Neighborhood
All information furnished regarding property for sale, rental or financing is from sources deemed reliable,
but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors,
omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without
notice. International currency conversions where shown are estimates based on recent exchange rates and are
not official asking prices.
All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.