112 138Th StNew York, NY 10030

Property Details for 112 138Th St

Lot size

8,992.00 AC

Property size (Sq ft)

38,904 SF

Property type

Apartment buildings

Description

This exceptional 54-unit apartment building at 112 W 138th St, New York, NY 10030, presents a compelling investment opportunity. Boasting 38,904 square feet across six stories, this well-maintained elevator building offers a strong current NOI of $507,879 and a pro-forma NOI of $540,193, translating to a 6.01% cap rate. The asking price is $8,400,000, or $155,556 per unit, and $216 per square foot. Situated on a substantial 8,992-acre lot zoned R7-2, the property benefits from its prime location in Central Harlem, just one block from Striver's Row. The building features significant upside potential through preferential rents and additional income generated by basement laundry facilities. Its convenient location, three blocks from the 135th St subway station (2 and 3 trains), provides easy access to Midtown Manhattan. Furthermore, the property enjoys proximity to St. Nicholas Park and City College of New York, enhancing its appeal and potential for future growth. This is a rare opportunity to acquire a well-positioned, income-producing multifamily asset in a rapidly appreciating market.

Location Insight

City

New York

County

New York

State

New York

Latitude

40.8163

Longitude

-73.9406

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