Map
Listed price in listed location currency (USD).
$3,240,000

18180

MLS® RLS20108913

Overview

Key Facts

Type Mixed Use
Levels Residential
Size -
Garage 
Taxes $83,484
Days Active 32
Lot Size 2525 SF
Approx. Age 1910
MLS® Number RLS20108913

Property Address: 172 E 112th St, New York, NY, 10029-2833

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

Description

<p> <strong>172 East 112th Street presents a 20-unit mixed-use investment opportunity in East Harlem, Manhattan, offered at $3, 240, 000.</strong></p> <p> The property consists of <strong>18 rent-stabilized residential apartments and two ground-floor retail spaces</strong>. The property currently generates approximately <strong>$406, 450 in annual gross operating revenue and $228, 230 in actual NOI</strong>, representing a <strong>7.04% current capitalization rate</strong>.</p> <p> Apartments <strong>2D and 3B are currently vacant</strong>, with no income from either unit included in the current NOI. Apartment 2D is currently undergoing renovation, with ownership projecting approximately <strong>$2, 500 per month upon completion</strong>, while Apartment 3B is projected at approximately <strong>$2, 100 per month</strong>. Together, the two units represent approximately <strong>$55, 200 in potential additional annual gross income</strong>, resulting in a projected <strong>8.75% pro forma capitalization rate</strong>.</p> <p> Both ground-floor retail spaces are occupied under long-term leases, providing an established commercial income stream.</p> <p> <strong>Asking Price: $3, 240, 000 Current Cap: 7.04% Pro Forma Cap: 8.75% $162, 000 Per Unit</strong></p>
MLS® NumberRLS20108913
Laundry LevelEnsuite
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1910
BasementOther
Driveway
Garage Spaces
Heat
A/C

Extras

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