Three-family income property in historic Harlem

Located north of Central Park, Harlem is known for gorgeous architecture, influential history, and rich cultural heritage. The thriving neighborhood can no longer be labeled as “up-and-coming”. However, it is still experiencing some major transformations and becoming increasingly popular among tenants looking to escape the astronomically high rents of some other neighborhoods. 

This is one example: a three-family townhouse located in South Harlem, one of the most desired neighborhoods. It is configured as a 2-bed, 2-bath duplex with a garden and two 1-bedroom units above. 

The efficient layout and easy commute downtown make this property very attractive to potential renters. The new owner could choose between occupying the duplex and renting out the two additional units or renting out all three apartments and achieving a 5 percent rental return. The building will be delivered vacant, which gives you full control over finding and assessing new tenants. 

As the rent pressure in more pricey Manhattan and Brooklyn neighborhoods reaches new highs, Harlem sees an influx of New Yorkers searching for better deals. However, Harlem rents, while still remaining more affordable, have been increasing by up to 10 percent year-over-year. 

If you are thinking about investing in Harlem, reach out at anya@verusnyc.com.