542 147Th StNew York, NY 10031

Property Details for 542 147Th St

Year built

1930

Lot size

0.09 AC

Property size (Sq ft)

12,575 SF

Zone code

R7A

Property type

Apartment buildings

APN

02078-0057

APU

20780057

Description

This exceptional investment opportunity presents a 16-unit apartment building at 542 West 147th Street in the desirable Hamilton Heights neighborhood of Manhattan, New York (zip code 10031). The property boasts a total of approximately 12,575 square feet situated on a 3,747 square foot lot, and is zoned R7A. The five-story building comprises a mix of apartment sizes: three 2-bedroom units, six 3-bedroom units, and seven 3-bedroom units. Recent renovations include updated kitchens featuring stainless steel appliances and in-unit washer/dryers. Currently operating at below-market rents, this stabilized investment offers significant potential for rental income growth. The building benefits from its proximity to the Broadway and Amsterdam Avenue retail corridors, providing residents with convenient access to local amenities and restaurants. Furthermore, its location offers easy access to public transportation, including the 1, B, C, and D subway lines and numerous bus routes. Nearby attractions include City College of New York, Riverbank State Park, Hamilton Grange National Monument, and Dance Theatre of Harlem. This 70% free-market building presents a compelling opportunity for investors seeking a cash-flowing asset with substantial upside potential. The asking price is $4,800,000, translating to $381.71 per square foot and $300,000 per unit.

• CAP approach

  CAP return

  Valuation

  6%

  $2,577,989

  6.5%

  $2,379,682

  7%

  $2,209,704

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,546,727

  Geo Method

  $2,546,727

• Alternative Use

  Use

  Valuation

  Residential

  $2,379,682

  Hospitality

  $2,179,776

  Educational

  $1,813,548

  Medical

  $1,875,918

  Retail

  $2,821,074

Location Insight

City

New York

County

New York

State

New York

Latitude

40.8272

Longitude

-73.9489

CBSA code

35620

CBSA name

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

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].