Building & Unit Features
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) Raos 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) Raos 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.**
Stories: 3
Units: 4
Total Rooms: 12
Pet Policy: Pets OK
Courtesy Of Compass
Estimated Monthly Costs
$12,616
Est. Mortgage
Est. Mortgage
$486
Real Estate Tax
Real Estate Tax
$400
Maintenance
Maintenance
$13,502
Monthly Total*
Monthly Total*
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market.
©2024 REBNY Listing Service, Inc. All rights reserved. RLS IDX Data display by Tyler Vincent Real Estate Inc.. IDX information is provided exclusively for consumers' personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.