Stephen Grant
Licensed Real Estate Salesperson
REALTOR®, Residential Resale Specialist; CBR
Cell: (631) 662-2096
BEDS0
BATHS
MLS#934278
STATUSActive
PROPERTY TYPECommercial -
Property Description
*. Excellent opportunity to acquire a 12-UNIT multifamily building in the heart of East Harlem, NY. This well-maintained, Fire Sprinkler installed, renovated walk-up property is filled with spacious pre-war apartments, ranging from Bedrooms (x5), Studios (x6) and Two-Bedroom Apt (x1) that attract a strong rental demand and provide steady cash flow. Fully occupied, all apartments are rent-stabilized, with no rent control. Rental Income: $160,200, Operating Expense:$40,506, Net Oper Income: $119,694. The building is situated in a prime location, surrounded by numerous shopping and dining options.*. For Hotel, this building is zoned for Hotel operation if desired.*. For Maximum buildable area, you even can build extra three stories (x3) if needed.*. With a CAP rate 6% as well as $120,000 annually in Net Profit, the property offers immediate income as well as long-term appreciation potential. Detailed ROI can be provided upon request.
Property Features
Property Type: Commercial -
Basement: Finished, Full
Basement: Yes
Cooling: Wall/Window Unit(s)
Heating: Steam
Lot Size: 0.03 Acres
Taxes: $12,708
Year Built: 1890
Feature Descriptions
Building Area Total: 2340
Days on Site: 114
Exterior: Brick
On Market Date: 2025-11-10
Parcel Number: 1645-0153
Parking Features: None
Property Attached Y/N: 1
Rental Term: Monthly
Sewer: Public Sewer
Units: 12
Utilities: Electricity Connected, Natural Gas Connected, Phone Connected, See Remarks, Sewer Connected, Trash Collection Public, Water Connected
Water: Public
Local Schools
Elementary School: Ps 7 Samuel Stern
Listed By / Shown By
Listing By
Agency Name: Chous Realty Group Inc
Agency Contact: 718-353-8818
Shown By
Agent Name: Stephen Grant
Agent Phone: Cell: (631) 662-2096
Agency Title: Howard Hanna | Coach Realtors
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1889 Lexington Avenue | MLS# 934278
This commercial property located at 1889 Lexington Avenue, New York, NY 10035 is currently listed for sale with an asking price of $1,890,000. Search New York real estate on sgrant.coachrealtors.com today.