439 East 116th Street

Townhouse located in East Harlem, between First Avenue & Pleasant Avenue

$1,900,000 ($714 per ft²) | 4 beds, 4 baths | Approx. 2,660 ft²

85 days on Market

Townhouse Facts

Year Built: 1900

Minimum Down: 20%

Total Floors: 3

Listed: Aug 21, 2024

Last Price Change: ($299,000) on Oct 3

Days on Market: 85

Building Type: Townhouse

Neighborhood: East Harlem (Manhattan)

Monthly Real Estate Taxes: $493

Total Taxes & Fees: $493 ($0.19/ft²)

Est. Monthly Mortgage: $10,031

Total Est. Monthly Carrying Cost: $10,524 ($3.96/ft²)

Note: the above is based on a down payment of 20% ($380,000), which is the minimum amount permitted by the building.

Insider Highlights

Income Potential and Low Costs: The property offers solid income potential due to its size, location, and unit mix. Additionally, it benefits from low monthly real estate taxes and fees.
Prime Location: This is a prime real estate opportunity in the heart of East Harlem, centrally located near East River Plaza and a vibrant mix of shopping, dining, and entertainment options. Efficient transit and connectivity make for easy commuting.
Spacious Four-Unit Property: The property is a four-unit pre-war townhouse built in 1900, each unit featuring 1 bedroom, 1 bathroom, and an additional office space. The total square footage is 2,660 ft.², providing ample space for tenants.
Potential for Expansion: The property comes with an additional 3,086 ft.² of unused FAR, offering potential owners the opportunity to add on and customize according to their investment goals.
Delivered Vacant: The property will be delivered 100% vacant, allowing potential owners to tailor the space according to their preferences and investment goals.
Outdoor and Additional Spaces: The property boasts a generous backyard area and a basement level, adding to the appeal and functionality of the space.

Description

Prime Free Market 4-Family Real Estate Opportunity in the Heart of East Harlem
Nestled in the historic neighborhood of East Harlem, this distinguished 4-Family property presents a unique investment opportunity for discerning buyers. Boasting a substantial four-unit composition, this property is thoughtfully configured with four, 1-Bedroom 1-Bath apartments that host an additional office space in each unit. The property also features a generous backyard area and a basement level with dimensions of 19 feet by 35 feet, the total square footage stands at an impressive 2,660 ft.², promising ample space for tenants and lucrative returns for investors.

The best value yet is there is an additional 3,086 ft.² of unused FAR available to add on.
Highlights & Values:
• Optimal Flexibility: The property will be delivered 100% vacant, allowing potential owners to tailor the space according to their preferences and investment goals.
• Prime Location: Centrally located in East Harlem, this property sits at the nexus of convenience and charm. The iconic East River Plaza, home to Costco, Marshalls, Old Navy, Aldi & more is a stone’s throw away. This neighborhood offers a vibrant mix of shopping, dining, and entertainment options.
• Efficient Transit & Connectivity: Benefit from seamless transportation options, making daily commutes and leisurely travels equally convenient.
• Solid Income Potential: Given its size, location, and unit mix, this property is poised to provide a steady and significant income stream, making it a coveted asset for those looking to bolster their real estate portfolio.
Take the plunge into East Harlem’s real estate market with this gem, perfectly positioned to offer both charm and profitability.

Discover the allure of Harlem and the promise of a sound investment.