193 Edgecombe Avenue
193 Edgecombe Avenue 4 UNIT MULTIFAMILY WALK-UP BUILDING Delivered Vacant FOR SALE Building Features Location
On Edgecombe Avenue between West 141st Street and West 145th Street.
Block/Lot
2051 / 77
Lot Dimensions
16.83’ X 100’ (Approx.)
Lot Area
1,683 (Approx.)
Stories
4
Building Size
16.83’ X 50’ (Approx.)
Gross Square Footage
3,366 (Approx.)
Residential Units
4 Units
Zoning
R6A
FAR
3.00
Assessment (15/16)
$15,530
Taxes (15/16)
$2,673
Adjusted Gross Revenue
$125,115
Expenses
$18,426
Net Operating Income
$106,689
PPSF
$564
Property Highlights Cushman & Wakefield has been retained on an exclusive basis for the sale of 193 Edgecombe Avenue, a unique investment opportunity to own an approximately 3,366 sq. ft. four-unit multifamily walk-up, with approximately 17’ of frontage on a quaint and quiet residential block in Central Harlem. The subject property stands four (4) stories tall and includes a duplex unit on the parlor and garden floors, two units that share a common bathroom on the third floor, and a floor-through unit on the fourth floor. This property represents a great opportunity for live plus income or conversion into a high end two family on a tree-lined street just blocks away from City College and Saint Nicholas Park. The duplex apartment has access to a private backyard and laundry in the basement. The property contains exposed brick throughout the building and original details within the units and in the common areas. Since the property will be delivered vacant, future ownership will immediately be able to occupy the units with tenants paying at or above market rents. The building is within close proximity to the A, B, C and D subway lines on West 145th Street and Saint Nicholas Avenue, as well as many bus routes that canvas the area.
Asking Price: $1,900,000 For More Information, Please Contact: Josh Lipton Director (212) 660 7779 [email protected]
Andrew Levine Associate (212) 589 5153 [email protected]
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
193 Edgecombe Avenue
RESIDENTIAL INCOME PROJECTED INCOME
@ $45 / NET SQUARE FOOT
$128,925
RESIDENTIAL TOTALS & METRICS Total Monthly Revenue
$10,743
Total Annual Revenue
$128,925
EXPENSES R. E. Taxes (15/16)
Actual
$2,673
Water & Sewer
Projected @ $945 / Unit
$3,780
Insurance
Projected @ $1.00 / SF
$3,366
Fuel
Projected @ $1.25 / SF
$4,207
Repairs and Maintenance
Projected @ $250 / Unit
$1,000
Super
Projected @ $200 / Mo.
$2,400
General & Administrative
Projected @ $250 / Unit
$1,000
Total Annual Expenses:
$18,426
Gross Annual Revenue:
$128,982
Vacancy Allowance:
@ 3% of Gross Annual Revenue
$3,867
Effective Gross Annual Revenue:
$125,115
Less Annual Expenses:
$18,426
Net Operating Income:
$106,689
CAP RATE:
5.6%
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
193 Edgecombe Avenue
Tax Map & Location Map & Property Photo
West 145th Street
77
2051 West 141st Street
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
193 Edgecombe Avenue
Property Photos
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
193 Edgecombe Avenue
Property Photos
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
193 Edgecombe Avenue
Property Photos
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
On Edgecombe Avenue between West 141st Street and West 145th Street.
Block/Lot
2051 / 77
Lot Dimensions
16.83’ X 100’ (Approx.)
Lot Area
1,683 (Approx.)
Stories
4
Building Size
16.83’ X 50’ (Approx.)
Gross Square Footage
3,366 (Approx.)
Residential Units
4 Units
Zoning
R6A
FAR
3.00
Assessment (15/16)
$15,530
Taxes (15/16)
$2,673
Adjusted Gross Revenue
$125,115
Expenses
$18,426
Net Operating Income
$106,689
PPSF
$564
Property Highlights Cushman & Wakefield has been retained on an exclusive basis for the sale of 193 Edgecombe Avenue, a unique investment opportunity to own an approximately 3,366 sq. ft. four-unit multifamily walk-up, with approximately 17’ of frontage on a quaint and quiet residential block in Central Harlem. The subject property stands four (4) stories tall and includes a duplex unit on the parlor and garden floors, two units that share a common bathroom on the third floor, and a floor-through unit on the fourth floor. This property represents a great opportunity for live plus income or conversion into a high end two family on a tree-lined street just blocks away from City College and Saint Nicholas Park. The duplex apartment has access to a private backyard and laundry in the basement. The property contains exposed brick throughout the building and original details within the units and in the common areas. Since the property will be delivered vacant, future ownership will immediately be able to occupy the units with tenants paying at or above market rents. The building is within close proximity to the A, B, C and D subway lines on West 145th Street and Saint Nicholas Avenue, as well as many bus routes that canvas the area.
Asking Price: $1,900,000 For More Information, Please Contact: Josh Lipton Director (212) 660 7779 [email protected]
Andrew Levine Associate (212) 589 5153 [email protected]
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
193 Edgecombe Avenue
RESIDENTIAL INCOME PROJECTED INCOME
@ $45 / NET SQUARE FOOT
$128,925
RESIDENTIAL TOTALS & METRICS Total Monthly Revenue
$10,743
Total Annual Revenue
$128,925
EXPENSES R. E. Taxes (15/16)
Actual
$2,673
Water & Sewer
Projected @ $945 / Unit
$3,780
Insurance
Projected @ $1.00 / SF
$3,366
Fuel
Projected @ $1.25 / SF
$4,207
Repairs and Maintenance
Projected @ $250 / Unit
$1,000
Super
Projected @ $200 / Mo.
$2,400
General & Administrative
Projected @ $250 / Unit
$1,000
Total Annual Expenses:
$18,426
Gross Annual Revenue:
$128,982
Vacancy Allowance:
@ 3% of Gross Annual Revenue
$3,867
Effective Gross Annual Revenue:
$125,115
Less Annual Expenses:
$18,426
Net Operating Income:
$106,689
CAP RATE:
5.6%
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
193 Edgecombe Avenue
Tax Map & Location Map & Property Photo
West 145th Street
77
2051 West 141st Street
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
193 Edgecombe Avenue
Property Photos
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
193 Edgecombe Avenue
Property Photos
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
193 Edgecombe Avenue
Property Photos
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
