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Howard Hanna NYC

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Listing Courtesy of Douglas Elliman Real Estate

$ 5,250,000

Est. payment -/mo

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172 E 112TH Street #0 Manhattan, NY 10029

18 Beds

18 Baths

UPDATED:

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision East Harlem

MLS Listing ID RLS20067855

Style Walk-Up

Bedrooms 18

Full Baths 18

HOA Fees $13,510/mo

HOA Y/N Yes

Year Built 1910

Property Sub-Type Apartment

Property Description

Asking Price: $5,250,000 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 5.5% 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.

Location

State NY

County New York

Building 172 East 112th Street

Rooms

Basement Other

Interior

Fireplace No

Appliance Washer Dryer Allowed

Laundry Building None

Exterior

Exterior Feature None

View Y/N Yes

View City

Porch None

Private Pool No

Building

Story 5

New Construction No

Others

Pets Allowed Pets Allowed

Tax ID 1639-0042

Ownership Rental Building

Monthly Total Fees $13, 510

Special Listing Condition Standard

Pets Allowed Building Yes, No

RLS Data display by Elegran Real Estate

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