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Featured Commmercial Property  
327 East 116th Street, New York, NY 10029   Web ID 353

Details

Asking Price: $1,600,000
Approximate Sqft: 3,430
Gross Annual Income: $115,200
Gross Annual Expenses: $15,700
Net Operating Income: $99,500
Building Class: C3
Lot Size: 16.67x100.92
CAP Rate: 6.2%
Zoning: R7B

Featured Commmercial Property

Four unit multi-family building located in East Harlem. With a recent renovation including all the plumbing and electrical systems, this building is ready to go. The boiler and water heater are all in brand new condition as well. This is Harlem's next hot area for redevelopement. Near to the CostCo, Best Buy, and Target shopping center, as well as the new Hunter College Humanities Center, the area is fast becoming revitalized!

Currently, 2 apartments are being leased short term. This can increase the return on gross by $2,000/month.

Gross Annual Expense Schedule
Real Estate Taxes $4,000
Insurance $4000
Gas $6440
Water & Sewer $720
Common Electric $540
Gross Expenses $15,700

Income Schedule
Apt. 1 $2,700
Apt. 2 $2,500
Apt. 3 $2,200
Apt. 4 $2,200
GROSS ANNUAL INCOME: $115,200

CAP RATE: 6.2%
Net Operating Income: $99,500

Community Facility use of the ground floor is possible with the right paperwork filings with the DOB.

The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are projections used only as an example. It does not necessarily relate to actual rental values, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax adviser and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.

Patrick Todd

Patrick Todd

Web Id: 353

Office 212-994-3243
Cell 917-716-5168
Fax 212-627-8150

Map

All information regarding a property for sale, rental or financing is from sources deemed reliable. No representation is made as to the accuracy thereof, and such information is subject to errors, omission, change of price, rental, commission, prior sale, lease or financing, or withdrawal without notice. All square footage and dimensions are approximate. Exact dimensions can be obtained by retaining the services of a professional architect or engineer.

  City Connections Realty, Inc. supports Equal Housing Opportunity. The federal Fair Housing Act makes it illegal to advertise "any preference, limitation, or discrimination because of race, color, religion, sex, handicap, familial status, or national origin, or intention to make such preference, limitation or discrimination." We will not knowingly accept or permit any advertisement for real estate that is in violation of the law. All persons are hereby informed that all dwellings advertised are available on an equal opportunity basis.