176 110Th St New York, NY 10029
- Mixed-use properties
Current Use by Public Records
- Tito Puente Mural “Oye Como Va / Tourist Attraction
Property Details for 176 110Th St
- Property type
- Mixed-use properties
- Property subtype
- Apartment buildings
Description
This exceptional mixed-use property at 176 East 110th Street (also known as 2000-2002 3rd Avenue) in East Harlem, New York, presents a compelling investment opportunity. The building boasts 20 rent-stabilized apartments and three retail units, strategically positioned on a prime corner of 3rd Avenue within a vibrant commercial district filled with numerous shops and restaurants. Currently, there is one vacant apartment and two owner-occupied units to be delivered vacant, offering significant potential for value enhancement through increased rental income. Recent capital improvements include the installation of new boilers. One retail tenant contributes 12.5% towards the real estate taxes, further enhancing the property's financial performance. The building's convenient location near Marcus Garvey Park, Central Park North, and just half a block from the 4-6 subway lines ensures strong tenant demand and accessibility. The asking price for this multifamily investment is $4,200,000. This property offers a strong foundation for a savvy investor seeking a value-add opportunity in a prime East Harlem location with excellent market fundamentals.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- New York
- County
- New York
- State
- New York
- Longitude
- -73.9431
- Latitude
- 40.7941
