539 147Th StNew York, NY 10031

This exceptional investment opportunity presents an eight-unit multifamily building located in the desirable Hamilton Heights/Sugar Hill neighborhood of New York City. The property, situated at 539 W 147th St, zip code 10031, is a three-story, 3,200 square foot building constructed in 1901. Currently boasting 88% occupancy, the building comprises eight rent-stabilized studio units, offering a stable income stream. The property features a new roof and gas line, along with consistently maintained mechanical systems and structure. The building benefits from R6 permitted zoning and includes valuable air rights totaling 1,597 square feet, presenting potential for future expansion or development. The 1,598 square foot lot is situated on a quiet, tree-lined street, just two and a half blocks from the 145th Street #1 train station, providing convenient access to public transportation. Its proximity to Columbia University, Yeshiva University, and City College of New York (CCNY) further enhances its appeal. The building is also conveniently located near popular local establishments. The asking price is $1,100,000, representing a price per unit of $137,500 and a price per square foot of $343.75. The current Net Operating Income (NOI) is $77,846, yielding a 7.08% capitalization rate. This property offers a compelling combination of stable income, development potential, and a prime location in a rapidly appreciating neighborhood. The property is being sold by the owner and is not subject to a ground lease.