453 140Th StNew York, NY 10031

Property Details for 453 140Th St

Year built

1920

Lot size

0.04 AC

Property size (Sq ft)

4,863 SF

Zone code

R6A

Property type

Residential income homes

Property subtype

Serviced apartments

APN

02057-0138

APU

20570138

Description

This exceptional 4-unit multifamily property, located in Harlem's coveted Hamilton Heights neighborhood, presents a compelling investment opportunity. The 18-foot wide, 68-foot deep, five-story building, constructed in 1920, boasts 4,683 square feet on a 1,800 square foot lot and features three spacious 2-bedroom floor-through apartments, each with a split HVAC system, in-unit laundry, dishwasher, and microwave. One unit includes a private terrace. A unique duplex unit occupies the first two floors, offering a kitchen and bathroom on each level, a home office, and a private backyard. The building has undergone significant renovations, including entirely new plumbing, electrical systems, meters, panels, sewage lines, hot water heaters, and HVAC systems. Eight decorative fireplaces add to the pre-war charm, complemented by hardwood floors and recessed lighting throughout. The property currently generates a gross monthly rent of $15,400, with three two-year leases expiring in 2025. The Net Operating Income (NOI) is $186,800. Its prime location offers easy access to CUNY and Columbia University, numerous restaurants, shops, parks (including St. Nicholas Park, Jackie Robinson Park, and Riverbank State Park), and excellent public transportation, including the #1 train and multiple bus lines. The property is zoned R6A and includes 530 square feet of air rights. This is a rare opportunity to acquire a meticulously updated multifamily building in a highly desirable location, offering both strong rental income and significant upside potential. The sale is structured as a 1031 exchange.

• CAP approach

  CAP return

  Valuation

  6%

  $996,959

  6.5%

  $920,270

  7%

  $854,536

• Comparable approach

  Method

  Valuation

  Relative Method

  $984,869

  Geo Method

  $984,869

• Alternative Use

  Use

  Valuation

  Residential

  $920,270

  Hospitality

  $842,962

  Educational

  $701,335

  Medical

  $725,455

  Retail

  $1,090,965

Location Insight

City

New York

County

New York

State

New York

Latitude

40.8219

Longitude

-73.9488

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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