Description

3474 Broadway is a beautiful 20-foot-wide mixed-use townhouse built in 1910, recently renovated and immaculately maintained. Located on Broadway in the commercial corridor of the Hamilton Heights neighborhood and one of five row houses on the block, the property represents an outstanding rental investment opportunity. The pristine commercial space on the Garden level is currently occupied by a dentist tenant with a lease through July 2027, while the three floor-through free-market two-bedroom one-bath apartments on the three upper stories are delivered vacant and ready for rental. The property offers outstanding capitalization rate, cash flow and return on investment from day one. All units boast high ceilings and large windows giving a wonderful sense of light and space, abundant closet storage, open-plan kitchens and tiled bathrooms.
At 20 feet wide and 55 feet deep, this property provides approximately 4,400 square feet of space plus a clean, neat cellar with laundry facilities accessible by the tenants. Maximum buildable area is 8,428 square feet, thus there are an additional 4,028 square feet of available air rights. All units have separate electric meters, and the commercial tenant has a separate boiler and gas meter and also pays their own insurance and 25% of the buildings water bill. The staircase is fully fireproofed. The property has a 421a real estate tax abatement which lasts until 2024.
The house is conveniently close to City College, shopping and restaurants including ROKC, The Honeywell, OSO, The Hamilton and Harlem Public. For recreation, Riverside Park is just three blocks away, while the Hamilton Grange National Memorial is within a short stroll. Transportation options include the #1, A, B C and D subway lines and the M4, M5, M100 and M101 buses.
This property offers a truly outstanding opportunity for an investor or owner-landlord and should not be missed.


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Building Features 4 Floors3 Units

intercom

Unit Features

garden
washerdryer

$2,950,000 / $670 per ft²

$150,000  -  43 days ago

Listed on Mar 02, 2020

113 Days on Market

6 Beds / 3.5 Baths / 4,400 ft²

Total Monthly expenses: $1,335

Maintenance: - / R.E. Taxes $1,335

Other Details:

Mixed Use (1-6 Family)

Lot Size: 20.0' x 70.0' Built: 20.0' x 55.0'

Zoning: S1-5, S9

Open House (Appointment only)

Sat Sep 26, 1:00 PM - 2:00 PM
Wed Sep 30, 6:30 PM - 7:45 PM

Exclusively listed with: Harlem Lofts Inc. Source: RLS

Robert D. Pair

sales@harlemlofts.com

(917) 791-6986

Listing Courtesy of Harlem Lofts Inc. View Listing

Unit listing history

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