2127 3Rd Ave New York, NY 10035

This exceptional mixed-use property at 2127 3rd Avenue in New York City's vibrant East Harlem presents a compelling investment opportunity. The five-story, 6,908 square foot building sits on a 0.039-acre lot and boasts eleven units: seven one-bedroom/one-bathroom apartments, one studio apartment, two ground-floor retail spaces, and one office suite. Currently housing ten tenants, the property offers a strong 7.23% cap rate and a substantial net operating income (NOI) of $151,865. The asking price is $2,100,000, translating to $304 per square foot and $190,909 per unit. Built in 1867, the building is zoned C4-6, allowing for potential future development and expansion. The property benefits from significant air rights (approximately 9,982 square feet), adding considerable value. Its prime location offers convenient access to public transportation (including subway lines and bus routes), major roadways (FDR Drive, Interstates 278 and 95), and bridges. Nearby amenities include Central Park, Marcus Garvey Park, Thomas Jefferson Park, numerous restaurants, shops, and businesses. The strong demographics of the area, with high household incomes and a large workforce within a one-mile radius, further enhance the investment potential. The property also benefits from its proximity to several area schools and major universities. Rent bumps are permitted, providing additional income growth opportunities. This well-maintained asset represents a rare chance to acquire a high-performing mixed-use property in a rapidly developing and desirable Manhattan neighborhood. The fee-simple ownership provides complete control and flexibility for the new owner.