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CALLING ALL INVESTORS AND CASH BUYERS This renovated two-bedroom South Harlem condominium presents a compelling opportunity for investors. Delivered vacant, the residence offers the flexibility to immediately generate income. For investors, projected performance reflects an estimated 4.5% cap rate with strong first-year cash-on-cash potential based on current market rents of approximately $3,700/month. LLC purchasing is permitted, and the condominium structure supports leasing with board approval and a standard Right of First Refusal, offering greater flexibility than more restrictive ownership types. Defined layout. Flexible second bedroom. Western light where it matters. Thoughtful functionality throughout. This efficiently arranged two-bedroom South Harlem residence at St. Nicholas Court is well-positioned for both end-user comfort and consistent rental performance. A proper entry foyer creates a natural separation from the main living space and immediately stands out with custom wall-mounted shoe racks—a highly practical and rarely seen built-in feature that maximizes storage while keeping the home organized from the moment you arrive. The living and dining area is comfortably proportioned, allowing for a variety of furniture configurations while maintaining a clean, usable footprint for both everyday living and entertaining. The adjacent renovated kitchen is polished and functional, featuring stainless steel appliances, recessed lighting, ample cabinetry, and a garbage disposal—an operational convenience not commonly found in comparable homes. Both bedrooms are tucked away for privacy and benefit from western exposure, bringing in consistent afternoon and evening light. The primary bedroom features mirrored closets and comfortably accommodates a queen-sized bed and additional furnishings. The second bedroom offers flexibility as a guest room, home office, or additional sleeping space, supporting a variety of living or rental configurations. The updated bathroom features floor-to-ceiling tilework, a glass shower partition, a modern vanity with integrated storage, and clean contemporary finishes designed for durability and ease of maintenance. Located in South Harlem just blocks from Central Park North, the home is moments from the Harlem Meer, Conservatory Garden, and the North Woods—key lifestyle drivers for both residents and tenants. Transportation is highly convenient with the nearby 2 and 3 express subway lines providing direct Midtown access in approximately twelve to eighteen minutes to Times Square during peak hours. St. Nicholas Court is a well-maintained condominium offering practical amenities including a laundry room and bike storage. Pets are permitted. A key advantage of the building is its bulk Spectrum package (approx. $86/month included in common charges), which includes cable, premium streaming, and high-speed internet at around 500 Mbps. Comparable services would typically cost approximately $160–$200+ per month if purchased separately, allowing owners to effectively offer a higher net-effective rent value to tenants while keeping ownership costs streamlined. With efficient design, strong natural light, low-maintenance finishes, and flexible use potential, this property presents a compelling opportunity for investors seeking long-term value in Manhattan.
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Provided By
Listed by Michael J. Arvonio (#KEY63736)
Listing Office: NextHome Residential (#KEYNEXTHO)
Provided By (Buyer)
Buyer's Agent: Matthew J. Bizzarro (#KEY58980)
Buyer's Office: Bizzarro Agency, LLC (#KEYBIZARO)
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