INVICTUS 225 EAST 110TH STREET PROPERTY ADVISORS MANHATTAN, NY 10029
3 - UNIT EAST HARLEM TOWNHOUSE ASKING PRICE FOR SALE WITH PARKING FOR 2 CARS $2,195,000
10 Minutes to Central Park and steps to 6 Subway Line, 21' of Frontage, Live + Income Potential.
INVICTUS PROPERTY ADVISORS JOSH LIPTON ANDREW LEVINE
303 Fifth Avenue, #1102, New York, NY 10016 [email protected] [email protected] email: [email protected] 212 596 7579 212 596 7570 www.invictusnyc.com 201 364 1809 917 495 0446
Invictus Property Advisors LLC makes no warranty or representation as to the accuracy and completeness of the information contained herein. This information is presented subject to errors, omissions and other conditions which may change without notice. The information contained herein shall be independently evaluated. INVICTUS 225 EAST 110TH STREET PROPERTY ADVISORS MANHATTAN, NY 10029
BUILDING FEATURES
On the north side of West 110th Street between LOCATION: 2nd Avenue and 3rd Avenue.
BLOCK / LOT: 1660 / 111
LOT DIMENSIONS: 21.92' X 100.92'
LOT AREA: 2,212 SF
STORIES: 3
BUILDING DIMENSIONS: 21' X 46'
GROSS SQUARE FOOTAGE: 3,864 SF (includes 966 SF cellar utilized by Unit A)
NET RESIDENTIAL SQUARE FOOTAGE: 3,478 SF (assumes 10% loss factor)
RESIDENTIAL UNITS: 3 Units (with 2 parking spots in rear of lot)
ZONING: R7A
TOTAL BUILDABLE SF: 8,848 BSF
TOTAL AVAILABLE AIR RIGHTS: 5,950 SF
ASSESSMENT 20/21: $51,439 (Tax Class 1)
TAXES 20/21: $10,888
GROSS ANNUAL REVENUE: $130,500
EXPENSES + VACANCY LOSS: $27,744
NET OPERATING INCOME: $102,756
CAP RATE 4.7%
PPSF $568 / SF
PROPERTY FEATURES
INVICTUS Property Advisors has been retained on an exclusive basis for the sale of 225 East 110th Street, a three (3) story townhouse with a semi-below grade lower-level. Residents access the building through a welcoming front garden to an extra-wide 21' townhouse consisting of three (3) residential units and two (2) dedicated parking spots in the rear of the lot. The apartments are all market rate (i.e. free market) and the owner's duplex unit ("Unit A") presents future owners with a unique live + income opportunity. Unit A has central AC and access to a rear private garden. All of the apartments are renovated and have washer/dryer in units. The apartments on floors 2 ("Unit B") and 3 ("Unit C") consist of three-bedrooms that can all easily fit queen beds. Unit B also has access to the private garden with a spiral staircase that hugs the rear facade of the townhouse.
Located in "El Barrio," East Harlem, the block is a quaint residential tree-lined street known as Tito Puente Way. The house is just an avenue away from the 6 subway line on East 110th Street and Lexington Avenue and a 10 minute walk from Central Park. The rowhouses on the block were built in 1996 and are home to well-heeled tenants and home- owners. The second avenue commercial corridor is around the corner with an abundance of national retailers and local favorites such as: Ricardo Steak House, Rao's, Mountain Bird, Dear Mama Bird, and East Harlem Bottling Co., among others.
In addition, there are several new developments that are either under construction or recently completed that will further transform the immediate area. The Sendero Verde mixed-use mega project on East 111th Street between Park and Madison Avenues will feature a new charter school, YMCA, and supermarket. The property is near The Tag Young Scholars School, The Mount Sinai Hospital and the NYC Health + Hospitals/Metropolitan. Investors and end-user alike can benefit from a turn-key, free market asset with nominal expenses in a vibrant and up-and-coming community. INVICTUS 225 EAST 110TH STREET PROPERTY ADVISORS MANHATTAN, NY 10029
RENT ROLL
UNIT# STATUS BEDROOMS/BATHROOMS LEASE TERM MONTHLY REVENUE ANNUAL REVENUE
UNIT A FM Duplex / 1.5 3/31/21 $3,900 $46,800
UNIT B FM 3 / 1 10/31/21 $3,500 $42,000
UNIT C FM 3 / 1 5/14/21 $3,000 $36,000
MONTHLY RESIDENTIAL REVENUE $10,400
ANNUAL RESIDENTIAL REVENUE $124,800
AVERAGE RENT PER NET SQUARE FOOT $35.88
TYPE STATUS LEASE TERM MONTHLY REVENUE ANNUAL REVENUE
PARKING 1 M-M M-M $225 $2,700
PARKING 2 M-M M-M $250 $3,000
MONTHLY PARKING REVENUE $475
ANNUAL PARKING REVENUE $5,700
EXPENSES
R.E. TAXES (20/21) Actual $10,888
INSURANCE Projected @ $1.00 / SF $2,898
WATER & SEWER Projected @ $945 / Unit $2,835
COMMON ELECTRIC Projected @ $0.15 / SF $435
GAS Projected @ $1.25 / SF $3,623
REPAIRS & MAINTENANCE Projected @ $250 / Unit $750
SUPER Projected @ $200 / Month $2,400
TOTAL EXPENSES $23,829
GROSS ANNUAL REVENUE (GAR) $130,500
VACANCY ALLOWANCE @ 3% OF GAR $3,915
EFFECTIVE GROSS ANNUAL REVENUE $126,585
LESS ANNUAL EXPENSES $23,829
NET OPERATING INCOME $102,759 INVICTUS 225 EAST 110TH STREET PROPERTY ADVISORS MANHATTAN, NY 10029
PROPERTY PHOTOS
LIVING ROOM
BEDROOM WITH ACCESS TO BACKYARD INVICTUS 225 EAST 110TH STREET PROPERTY ADVISORS MANHATTAN, NY 10029
POINTS OF INTEREST INVICTUS 225 EAST 110TH STREET PROPERTY ADVISORS MANHATTAN, NY 10029
MAP
225 EAST 110TH |
INVICTUS HQ |
3 - UNIT EAST HARLEM TOWNHOUSE ASKING PRICE FOR SALE WITH PARKING FOR 2 CARS $2,195,000 10 Minutes to Central Park and steps to 6 Subway Line, 21' of Frontage, Live + Income Potential. 225 EAST 110TH STREET
FOR MORE INFORMATION, PLEASE CONTACT EXCLUSIVE AGENTS:
JOSH LIPTON ANDREW LEVINE 212 596 7579 212 596 7570 [email protected] [email protected]