Map
USANYNew York188 Lenox Avenue
Listing image | Image 1

188 Lenox Avenue, New York, NY

House

For Sale

Listed price in listed location currency (USD).
$1,150,000

000

MLS® 1032679

  • Key Facts
  • Description
  • Map

Key Facts

Type Quadruplex
Levels Residential Income
Size -
Garage 
Taxes $3,150
Days Active 0
Lot Size 
Approx. Age 1887
MLS® Number 1032679

Property Address: 188 Lenox Avenue, New York, NY, 10027

Average square foot calculated using Size range provided by listing agent.

Description

Looking to build your portfolio? Add this trophy property to your collection! 188 Lenox is a rare architectural canvas located on historic Lenox Avenue. Built in 1887, this turn-of-the-century, mixed-use townhouse is situated along one of Upper Manhattan’s most iconic corridors and is available for sale. 188 Lenox Avenue is a 4-unit, mixed-use building located between 119th and 120th Streets. This property features ground-floor commercial space—currently being used as a hardware store—and three vacant residential units above. The property can be restored to its original beauty to generate passive rental income, or it can be renovated and converted into condos. For comparison, condos at 192 Lenox (just two buildings down) have sold in the $700K to $1M range. The building can be delivered with a Certificate of Non-Harassment and DOB-approved plans to convert into a legal 4-family building plus commercial space. Approved Plans Include: * 2nd Floor: Two (2) studio apartments, projected to rent for a minimum of $2, 646/month each. * 3rd & 4th Floors: Two (2) floor-through 2-bedroom apartments, projected to rent for a minimum of $3, 058/month each. * 1st Floor: Commercial space with excellent retail frontage near the Mount Morris Park Historic District. Can be rented for approximately $90/sq. ft., bringing in roughly $10, 500/month. Unleash immediate upside in Harlem’s historic and commercial heart! Grand Totals * Total Monthly Income (4 Residential + 1 Commercial):$11, 408 + $10, 500= $21, 908 / Month * Total Annual Gross Income:$21, 908 x 12 = $262, 896 / Year At a fair aqcuisition price, with conservative expense estimates, this property can bring in a double-digit cap rate (11.5% to 13.1%) which is an extraordinary return. Schedule your showing today!
MLS® Number1032679
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1887
BasementFull, Unfinished
DrivewayNone
Garage Spaces
HeatSteam
A/CNone

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Jul 30, 2026List Date
$1,150,000List Price
  • Commute

Commute

Starting Address
Destination Address
188 Lenox Avenue, New York, NY

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