• MLS# RLS20067855ID
  • Condo
  • Beds: 18
  • Baths: 18
  • RE Taxes: $6,545
  • Maint/CC: $13,510/month
  • Post-War
  • Built: 1910
  • MLS# RLS20067855ID
  • Condo
  • Beds: 18
  • Baths: 18
  • RE Taxes: $6,545
  • Maint/CC: $13,510/month
  • Post-War
  • Built: 1910

Asking Price: $4,430,000

This well-maintained 5-story mixed-use walk-up is located at 172 East 112th Street in East Harlem. The property sits on an approximately 25 ft 100.92 ft lot ( 2,523 sq ft) and has a total building area of approximately 8,610 sq ft. The building consists of 20 total units, including 18 one-bedroom apartments and 2 street-level retail stores.

Property Details:

  • 18 residential units: all one-bedroom apartments
  • 17 rent-stabilized, 1 rent-controlled apartment (Unit 2D), currently occupied but not paying, offering immediate upside
  • 2 retail stores, one currently vacant with projected rent of $2,900/month
  • Utilities: most apartments have separate electric meters; retail tenants pay their own electric
  • Building systems: boiler replaced approximately 2-3 years ago
  • Lot size: approx. 25 ft 100.92 ft ( 2,523 sq ft)
  • Building square footage: approx. 8,610 sq ft

Financial Highlights:

  • Current gross income (collected): $391,200/year
  • Current NOI: $229,000
  • Stabilized NOI: $288,000 (including lease-up of the vacant rent-controlled apartment and vacant store)
  • Asking price reflects a 6.5% cap rate on stabilized income

Investment Summary:

An excellent opportunity to acquire a Manhattan mixed-use asset with strong existing cash flow and clear upside through lease-up. Immediate upside is available by leasing the vacant rent-controlled apartment and the vacant retail store. Ideal for investors seeking a stable income-producing property with long-term value in a high-demand East Harlem location.

Courtesy of Douglas Elliman Real Estate

  • Washer/Dryer

RLS data display by Wohlfarth & Associates, Inc.

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