218 East 111th Street Upper Manhattan Townhouse For Sale
- 16 Bedrooms
- 8 Bathrooms
- Private Garden
- $1,575,000
Alta Real Estate presents 218 East 111th Street. This well maintained 25’ wide, 8 unit rental bldg is fully occupied and sits mid-block between 2nd and Third Avenues in East Harlem, just 2.5 blocks to the #6 Train on Lexington /110th Street. All units are railroad style 1 bed, 1 bath units and tenants pay for their own electric. The building enjoys a 2B tax class status which is highly desirable for limited future property tax increases. The property has been in the same family for over 40 years and represents a unique opportunity to purchase a cash flow positive property in an area of high rent demand. All units are rent stabilized, but one can be used for a family member or relative. Tenants pay their own electric. The property is built 25′ × 60 ’ and has a private 1,000 sf backyard. Great Investment opportunity with super low property taxes and a stable tenant base. Setup available upon request.
- Ownership Type: Income Property
- Pet Policy: Pets Allowed
- Features: Private Garden
Listing courtesy of ALTA Real Estate
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The Building
- Building Type: Townhouse
- Doorman: No
- Features: Pets Allowed
The Neighborhood
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