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Listing Courtesy of Compass
$2,495,000
Est. payment /mo
8 BD
4 BA
Active
273 Pleasant Avenue Manhattan, NY 10029
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UPDATED:
10/31/2024 11:44 PM
Key Details
Property Type Townhouse
Sub Type Townhouse
Listing Status Active
Purchase Type For Sale
Subdivision East Harlem
MLS Listing ID COMP-1556755687940698737
Style Walk-Up
Bedrooms 8
Full Baths 4
HOA Y/N Yes
Year Built 1900
Annual Tax Amount $5,832
Property Description
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.**
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.**
Location
State NY
County Newyork
Rooms
Basement Full
Interior
Interior Features High Ceilings
Heating Baseboard, Natural Gas
Flooring Hardwood, Laminate
Furnishings Unfurnished
Fireplace No
Laundry See Remarks
Exterior
Exterior Feature Garden, Private Yard
Private Pool No
Building
Dwelling Type Multi Family,Quadruplex,Townhouse
Story 3
New Construction No
Others
Pets Allowed Pets Allowed
Ownership None
Monthly Total Fees $486
Pets Allowed Building No, Cats OK, Dogs OK
RLS Data display by Kelvin F Joyner
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