Price Reduced 4.77%
Price History
$2,095,000
11/10/2025
$1,995,000
11/16/2025
1889 Lexington Avenue, New York, (New York (Manhattan)), NY, 10035
1890
*. 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.
Status:
Active
Town:
New York
Type:
Commercial
Units:
12
Heating:
Steam
Cooling:
Wall/Window Unit(s)
Basement:
Finished, Full
Acreage:
0.03
Est. Taxes:
$12,708
Assessment
$220,500
Construction
Brick
Utilities
Electricity Connected, Natural Gas Connected, Phone Connected, See Remarks, Sewer Connected, Trash Collection Public, Water Connected
Elementary School:
Ps 7 Samuel Stern
Days on Market:
8
MLS #:
934278
Community Info
School Info
Walk Score
Mass Transit
Yelp
Listing courtesy of Chous Realty Group Inc 718-353-8818