8
See all 8 photos
$1,995,000
Est. payment /mo
1,128 Sqft Lot
Price Dropped by $100K
1889 Lexington AVE New York (manhattan), NY 10035
REQUEST A TOUR
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 934278
Rental Info No
Year Built 1890
Annual Tax Amount $12,708
Lot Size 1,128 Sqft
Acres 0.0259
Property Sub-Type Multi Family
Source onekey2
Property Description
*. Excellent opportunity to acquire a 12-UNIT multifamily building in the heart of East Harlem, NY. This well-maintained, Fire Sprinkler installed, renovated walk-up property is filled with spacious pre-war apartments, ranging from Bedrooms (x5), Studios (x6) and Two-Bedroom Apt (x1) that attract a strong rental demand and provide steady cash flow. Fully occupied, all apartments are rent-stabilized, with no rent control. Rental Income: $160,200, Operating Expense:$40,506, Net Oper Income: $119,694. The building is situated in a prime location, surrounded by numerous shopping and dining options.
*. For Hotel, this building is zoned for Hotel operation if desired.
*. For Maximum buildable area, you even can build extra three stories (x3) if needed.
*. With a CAP rate 6% as well as $120,000 annually in Net Profit, the property offers immediate income as well as long-term appreciation potential. Detailed ROI can be provided upon request.
*. For Hotel, this building is zoned for Hotel operation if desired.
*. For Maximum buildable area, you even can build extra three stories (x3) if needed.
*. With a CAP rate 6% as well as $120,000 annually in Net Profit, the property offers immediate income as well as long-term appreciation potential. Detailed ROI can be provided upon request.
Location
State NY
County New York (manhattan)
Rooms
Basement Finished, Full
Interior
Heating Steam
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Parking Features None
Utilities Available Electricity Connected, Natural Gas Connected, Phone Connected, See Remarks, Sewer Connected, Trash Collection Public, Water Connected
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Schools
Elementary Schools Ps 7 Samuel Stern
Others
Special Listing Condition None
Listed by Chous Realty Group Inc • Wen Pin Tsai
GET MORE INFORMATION
