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Listing Courtesy of Douglas Elliman Real Estate
$ 3,240,000
Est. payment /mo
New
172 E 112TH Street Manhattan, NY 10029
18 Beds
18 Baths
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Subdivision East Harlem
MLS Listing ID RLS20108913
Bedrooms 18
Full Baths 18
HOA Y/N No
Year Built 1910
Annual Tax Amount $83,484
Property Sub-Type Mixed Use
Property Description
172 East 112th Street presents a 20-unit mixed-use investment opportunity in East Harlem, Manhattan, offered at $3,240,000. The property consists of 18 rent-stabilized residential apartments and two ground-floor retail spaces. The property currently generates approximately $406,450 in annual gross operating revenue and $228,230 in actual NOI, representing a 7.04% current capitalization rate. Apartments 2D and 3B are currently vacant, with no income from either unit included in the current NOI. Apartment 2D is currently undergoing renovation, with ownership projecting approximately $2,500 per month upon completion, while Apartment 3B is projected at approximately $2,100 per month. Together, the two units represent approximately $55,200 in potential additional annual gross income, resulting in a projected 8.75% pro forma capitalization rate. Both ground-floor retail spaces are occupied under long-term leases, providing an established commercial income stream. Asking Price: $3,240,000 Current Cap: 7.04% Pro Forma Cap: 8.75% $162,000 Per Unit
Location
State NY
County New York
Rooms
Basement Other
Interior
Interior Features Smoke Free
Fireplace No
Laundry In Unit
Exterior
Exterior Feature None
Pool Building None
View Y/N No
View Other
Porch None
Private Pool Yes
Building
Dwelling Type Mixed Use
Story 5
New Construction No
Others
Pets Allowed Pets Allowed
Tax ID 1639-0042
Ownership None
Monthly Total Fees $6, 957
Special Listing Condition Standard
Pets Allowed Building Yes, No
RLS Data display by Elegran