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: 141
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
Agency Title: Coldwell Banker Choice Properties
Agency Phone: 833-88-CHOICE (2-4642)
Broker Headquarters, 621 Columbia St. Suite 800, Cohoes, NY 12047
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Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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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 www.coldwellbankerchoice.com today.