2918 Frederick Douglass Blvd - Apartments FOR SALE


New York, NY 10039- Central Harlem
$2,300,000 USD
212-430-5183
2918 Frederick Douglass Blvd, New York, NY for Sale
$2,300,000 USD
Apartments - FOR SALE
1/12
null | 8.79% Cap Rate

2918 Frederick Douglass Blvd
New York, NY 10039
Central Harlem


HIGHLIGHTS

  • 2819 Frederick Douglass Boulevard is a 4-story walk-up composed of 12 free-market two-bedroom apartments, averaging $2,396 per unit in monthly rent
  • 8.79% Cap Rate | 6.7x GRM | $191,667 Per Unit
  • All 12 apartments have been fully deregulated through Individual Apartment Improvements (IAIs)
  • Providing investors with long-term free-market stability and growth potential
  • 2918 Frederick Douglass Boulevard is just steps from Jackie Robinson Park, Harlem River Drive, and the 155th Street B and D trains.

OVERVIEW

The New York Multifamily Team at Marcus & Millichap is pleased to present the following opportunity in the vibrant Harlem neighborhood. 2918 Frederick Douglass Boulevard is a fully free-market, 12-unit walk-up situated between West 154th and West 155th Street. Spanning 7,700 square feet, this property offers investors both stable cash flow and future value-add potential. 2918 Frederick Douglass is made up of 12 spacious two-bedroom apartments, with an average rent of $2,396 per month. Professionally managed and well-maintained by the same ownership for the past eight years, 2918 Frederick Douglass Boulevard is just steps from Jackie Robinson Park, Harlem River Drive, and the 155th Street B and D trains.

FOR SALE DETAILS

PRICE

$2,300,000 USD

PRICE/SF

$299 USD /SF

# OF UNITS

12

PRICE/UNIT

$191,667

CAP RATE

8.79%

% LEASED

33%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1920

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,614 SF

ZONING

R7-2, Manhattan

APN/PARCEL ID

2040-0004

ASK ABOUT THIS PROPERTY

Benjamin MyerowMarcus & MillichapMore Info
212-430-5183

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Benjamin MyerowMarcus & MillichapMore Info
212-430-5183

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.