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439 East 116th Street, New York (East Harlem), NY, 10029 | $1,900,000
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.
Features
- Town: New York
- Rooms: 15
- Bedrooms: 7
- Baths: 4 full
- Year Built: 1900
- Cooling: Unknown Type
- Building Access : Walk-up
- Service Level: Voice Intercom
- Built Size: 19'x35'
- OLR#: 00010097108
- Days on Market: 479 days
- Website: https://www.raveis.com
/prop/00010097108/439east116thstreet_newyork_ny?source=qrflyer
All information is intended only for the Registrant’s personal, non-commercial use. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. RLS Data display by William Raveis Real Estate, Inc.Listing courtesy of Coldwell Banker Reliable Real Estate NYC
William Raveis Family of Services
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Customer Service
888.699.8876
Contact@raveis.com
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To learn more about our credentials, visit raveis.com today.
Sarah AlvarezVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 1880936
347.223.0992
Sarah.Alvarez@Raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
- Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction
Robert ReadeRegional SVP Insurance Sales, William Raveis Insurance
860.690.5052
Robert.Reade@raveis.com
Our Insurance Division:
- Will Provide a home insurance quote within 24 hours
- Offers full-service coverage such as Homeowner's, Auto, Life, Renter's, Flood and Valuable Items
- Partners with major insurance companies including Chubb, Kemper Unitrin, The Hartford, Progressive,
Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
439 East 116th Street, New York (East Harlem), NY, 10029
$1,900,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Sarah Alvarez
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.Alvarez@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $1,520,000 | $1,520,000 | $1,520,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.625% | 6.500% | 6.000% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.955% | 6.612% | 6.182% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $8,750 | $9,607 | $12,827 |
| Total Monthly Payment | $8,875 | $9,732 | $12,952 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
NY Licensed Mortgage Banker-NYS Banking Department LMBC 106535