$2,195,000
Updated 6 years ago
Off Market

242 East 110th Street

East Harlem, Manhattan | Third Ave & Second Ave

3 Rooms7 Beds5 Baths2,898 Square FeetMulti-Family

$2,195,000
floors / apts3 / 3
Lot Size21'x100'
Built Size21'x46'
ZoneR7A
Building TypeTownhouse
RE Taxes$10,008
Price Per SF
$757

Listing Features

  • Moldings
  • Oversized Windows
  • Skylights
  • Spiral Staircase
  • Gas Heat
  • Window AC Units

Outdoor space and views

  • Backyard [22'x24']
  • Frontyard [12'x9']
  • Patio
  • City Views

Building Amenities

  • Voice Intercom
  • Driveway
  • Garden
  • Gated Entry
  • Laundry Room

Property Description for 242 East 110th Street

Great Multifamily in Harlem! Live for free or keep as an amazing Investment Opportunity! This beautiful gated three-family Townhouse was built in 1996 and is located in the heart of East Harlem on one of the quietest and nicest tree-lined streets in the area. Imagine walking two blocks from the train on 110th Street into your own Townhouse or pulling into your own private parking, all while living in Manhattan!This Townhouse has private appeal upon entry, with a beautiful front garden entrance. It also has a spacious landscaped backyard paradise; designed with a seating wall, private parking space behind a gated driveway entrance.It's also an incredible investment opportunity! Currently configured as a strong cash flowing property with ALL Free Market Tenants! The first floor and Lower level is occupied with tenants paying full market rent as well as the rental units on the second and third floors generating strong rental income.This turn-key Townhouse offers the following:1st floor unit- boasts a huge Master Suite (convertible to a two-bedroom) with walk-in closet, recently remodeled to perfection with a full en-suite bath, as well as a guest bath. The kitchen is renovated with two lovely open archways. The kitchen features new stainless steel appliances (including a Frigidaire Gallery refrigerator and range, Kenmore dishwasher and Samsung over-range microwave. This level features hardwood floors throughout, as well as a marble-tiled kitchen and bath, all-new windows and private access to lower level. Current Rent: $2,325 per month.The lower level is finished and well-appointed with a large family room/game room, utility kitchen, a full bathroom + home office. There is a private entrance connecting 1st floor unit as well as separate entrance to main lobby. Current Rent: $1,865The 2nd and 3rd floor Rental Units are each three-bedrooms with one bathroom and a laundry room connection, which can be converted to a bath. This level boasts a galley kitchen, wood flooring throughout, and a walk-in closet in the larger bedroom, as well as exterior spiral stairs leading to the backyard. 2nd Floor Rent: $2,760 and 3rd Floor Rent: $2,775.Expenses are very Minimal: Taxes: $10,019 per year.Insurance: $1,836Handy Man: $1,800Net Income: $103,092Cap Rate: 4%

Listing History for 242 East 110th Street

Now
12/24/2020
TOM by Carter McHyman
Douglas Elliman
10/26/2020
$2,195,000 [-$405,000] [15.6%]
Price Drop by Carter McHyman
Douglas Elliman

Building Details for 242 East 110th Street

OwnershipMulti-Family
Building TypeTownhouse
Service LevelVoice Intercom
AgePost-War
AccessWalk-up
Year Built1996
Floors/Apts3/3
Learn More About the Building

Transit and Citi Bike

Subway

110 St
0.19 miles
103 St
0.37 miles
116 St
0.37 miles

Citi Bike

3 Ave & E 109 St
0.1 miles
3 Ave & E 112 St
0.15 miles

Contact Agents

Contact Agents

Carter McHyman
Douglas Elliman
John Barnett
Douglas Elliman
Sandra Sullivan
Douglas Elliman

East Harlem | Manhattan

Quick Profile

Take a stroll through East Harlem and you’ll find a vibrant, culturally diverse neighborhood, which is evident no matter which direction you look. East Harlem is also known as Spanish Harlem, El Barrio, and “The Neighborhood,” as it is home to a population that represents Hispanic immigrants, primarily from Puerto Rico, as well as from Mexico, Cuba, and the Dominican Republic. These immigrants brought their cultures with them, in the form of music, dance, art, and food. During the day, you’ll find the neighborhood filled with opportunities to experience Latin culture. Both the salsa dance craze and the graffiti style of art were born right in East Harlem. There are many great places to sample authentic cuisine, from Rao’s (where you cannot get a table unless you inherit one, and any reservations must be booked years in advance) to sidewalk carts, where you can get the best “street meat” to be had in NYC.

In East Harlem you’ll find a number of innovative educational opportunities in the form of specialized and charter schools that are considered top-notch. Many of these have very competitive admissions criteria and offer curricula that focus on creativity and social awareness. Such schools are a draw for young families that want to raise their children in an educational system that goes above and beyond the standard.

The vibe of East Harlem is one of community and neighbors that interact with each other routinely. There are many small, family-owned and -operated businesses and restaurants that have been neighborhood anchors for years. As you stroll through East Harlem, you will be immersed in sights, sounds and flavors that are straight from Latin American or the Caribbean islands, sometimes both at once. You can sample Puerto Rican-inspired plantain mofongo, which is mashed plantains with garlic and pork rinds, from local sidewalk carts. Or if it is a hot summer’s day, you might enjoy a Mexican-inspired licuado, which is a blended drink similar to a smoothie, made with milk, fruit, and ice. Sometimes, spices, citrus juices, and sugar are added. Although you will find an abundance of authentic cuisine and music no matter where you look in East Harlem.

Prefer to cook at home? East River Plaza offers Target, Costco, and Aldi stores, all of which offer fresh food at reasonable prices.

East Harlem housing consists of more affordable walk-ups, low-rise pre-war buildings, brownstones, and is dominated housing complexes. You can find some comparatively large apartments at reasonable price points, and even some rent-stabilized apartments. Luxury co-op and condo units are being built on the southern boundary of East Harlem. 

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 59867TH