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This three-family townhouse in Central Harlem offers an excellent investment opportunity at 4% Cap rate or the potential for conversion into a single-family home. Currently fully leased and 100% free-market. It features 3, 552 sq. ft. of interior space, including a finished 888 sq. ft. basement with a bathroom. The triplex includes three bedrooms, two bathrooms, and an open kitchen, with high ceilings and central AC in each unit. The basement can serve as an art studio, office, or recreation room. Located on a beautiful tree-lined street, the property is near the 2/3, A/B/C trains, and several bus routes, providing easy access to Midtown. Positioned in a rapidly appreciating market, it offers great future value potential. Rent Roll Status Beds Baths Monthly Annual Duplex FM 3 2 4, 500 54, 000 Triplex FM 3 1 6, 000 72, 000 3F FM 1 1 2, 500 30, 000 4F FM 1 1 2, 400 28, 800 Total 5 5 15, 400 112, 800 Total with Triplex 130, 800 Expenses Annual Real Estate Taxes Actual 5, 941 Insurance Actual 5, 157 Gas Tenants pay Water & Swer 2, 500 Common Electric Actual 35 420 Super Actual 300 3, 600 Total 17, 618 Financial Summary Net Operating Income 95, 182 Projected Net Operating Income 113, 182 Italic - projected
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Our Executive Mortgage Banker:
Our Insurance Division:
$2,600,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.DeFlorio@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $2,080,000 | $2,080,000 | $2,080,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.625% | 6.500% | 6.125% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.659% | 6.610% | 6.303% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $11,974 | $13,147 | $17,693 |
Total Monthly Payment | $12,099 | $13,272 | $17,818 |
* 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.