Updated 9 years ago
Sold
421 East 118th Street
East Harlem, Manhattan | First Ave & Pleasant Ave
9 Rooms4 Beds4 Baths3,600 Square FeetMulti-Family
$2,475,000
floors / apts4 / 3
Lot Size16'8"x78'6"
Built Size16'8"x60'
ZoneR7B
Building TypeTownhouse
RE Taxes$4,054
Price Per SF
$688
This property was sold for $2,310,000 on 09/29/17.
Listing Features
- High Ceilings
- New Windows
- Oversized Windows
- Central AC
- Central Heat
Outdoor space and views
- Garden [16'x16']
- Patio
- Private Roof
- Terrace [16'x13']
- Partial City
- Treeline Views
Building Amenities
- Voice Intercom
- Garden
- Gated Entry
- Laundry Room
Property Description for 421 East 118th Street
-Renovated FREE MARKET 3-Family TOWNHOUSE with Three Outdoor Spaces...Garden, Terrace, and Roof-
Central AC, Radiant Heated Floors, and Skylights are just some of the wonderful details in this home. All of the three apartments are Free Market AND Taxes are only $337 per month making this a perfect live/work home with substantial income producing potential (see rent roll and expenses below). The owners worked side-by-side with an architect and invested nearly $1 Million dollars in renovations to create this stunning townhouse. Features include state of the art kitchens and baths, CENTRAL A/C in every room, radiant heated floors, exposed brick walls, porcelain and wood floors. The mechanicals, roof, and stucco exterior were all updated in recently. Situated on one of East Harlem's prettiest tree-lined streets...just two blocks away from Costco and Target!
EXPENSES (Yearly):
- $3,800 for Electric, Heat, AC, and Gas
- $3,250 for home owners insurance
- $3,828 for real estate taxes
- $1,160 for water and sewage tax
TOTAL: $12,038.00 per year
RENT ROLL (projected):
- Garden Duplex (floors 1&2)...$4,500/month
- 3rd floor one-bedroom + Terrace....$2,800/month
- 4th floor one-bedroom + roof....$2,800/month
TOTAL: $121,200 per year
CAP rate 4.5%
FLOORS 1 & 2 (Garden Duplex):
The front door opens into a bright and inviting entry hall. The first floor apartment is ideal for entertaining -- equipped with a chef's kitchen, top of the line appliances, a breakfast bar and plenty of counter space with storage. Across the kitchen is a wonderful sitting area/den with doors leading directly to the lush garden. On the opposite end of the house, you'll find a sun-filled bedroom and full bathroom. The second floor features two more large rooms, a second full bathroom, dressing room, exposed brick and large floor-to-ceiling windows. Both levels can be easily combined to create a garden duplex.
THIRD FLOOR:
A one-bedroom residence with its own private terrace oasis! A dream apartment for those who love to spend time outdoors. The renovated kitchen boasts a breakfast bar and opens directly into the living room...a wall of glass doors leads to the terrace with treetop views and a church in the distance. The king sized bedroom is quit spacious, with lots of closet space and a full bathroom across the hall.
FOURTH FLOOR:
Another beautifully renovated one bedroom apartment, with extra high ceilings and skylight! Features a state-of-the art kitchen and access to the roof! The new roof spans the entire length of the house and is the perfect place for the new owner to landscape, install a deck, add patio furniture and make it their own private oasis!
BASEMENT/CELLAR:
Finally, downstairs there is a clean efficient cellar with a laundry room equipped with a washer and dryer. The basement measures the entire length of the house allowing for plenty of space for storage or once can possibly create their own private GYM! A great area to store your bicycles or house your favorite bottles of wine!
Only a few blocks away lies a shopping mecca of stores...Costco, Target, Starbucks, and Marshall's. The area is well known for fine restaurants such as Rao's and family eatery's like Patsy's. Parks, Playgrounds and River walk access are only two blocks away. As the seasons change so do the neighborhood festivals -- there are many exciting events celebrated in East Harlem throughout the year. To learn more please call or e-mail Guy today to schedule a private tour.
Central AC, Radiant Heated Floors, and Skylights are just some of the wonderful details in this home. All of the three apartments are Free Market AND Taxes are only $337 per month making this a perfect live/work home with substantial income producing potential (see rent roll and expenses below). The owners worked side-by-side with an architect and invested nearly $1 Million dollars in renovations to create this stunning townhouse. Features include state of the art kitchens and baths, CENTRAL A/C in every room, radiant heated floors, exposed brick walls, porcelain and wood floors. The mechanicals, roof, and stucco exterior were all updated in recently. Situated on one of East Harlem's prettiest tree-lined streets...just two blocks away from Costco and Target!
EXPENSES (Yearly):
- $3,800 for Electric, Heat, AC, and Gas
- $3,250 for home owners insurance
- $3,828 for real estate taxes
- $1,160 for water and sewage tax
TOTAL: $12,038.00 per year
RENT ROLL (projected):
- Garden Duplex (floors 1&2)...$4,500/month
- 3rd floor one-bedroom + Terrace....$2,800/month
- 4th floor one-bedroom + roof....$2,800/month
TOTAL: $121,200 per year
CAP rate 4.5%
FLOORS 1 & 2 (Garden Duplex):
The front door opens into a bright and inviting entry hall. The first floor apartment is ideal for entertaining -- equipped with a chef's kitchen, top of the line appliances, a breakfast bar and plenty of counter space with storage. Across the kitchen is a wonderful sitting area/den with doors leading directly to the lush garden. On the opposite end of the house, you'll find a sun-filled bedroom and full bathroom. The second floor features two more large rooms, a second full bathroom, dressing room, exposed brick and large floor-to-ceiling windows. Both levels can be easily combined to create a garden duplex.
THIRD FLOOR:
A one-bedroom residence with its own private terrace oasis! A dream apartment for those who love to spend time outdoors. The renovated kitchen boasts a breakfast bar and opens directly into the living room...a wall of glass doors leads to the terrace with treetop views and a church in the distance. The king sized bedroom is quit spacious, with lots of closet space and a full bathroom across the hall.
FOURTH FLOOR:
Another beautifully renovated one bedroom apartment, with extra high ceilings and skylight! Features a state-of-the art kitchen and access to the roof! The new roof spans the entire length of the house and is the perfect place for the new owner to landscape, install a deck, add patio furniture and make it their own private oasis!
BASEMENT/CELLAR:
Finally, downstairs there is a clean efficient cellar with a laundry room equipped with a washer and dryer. The basement measures the entire length of the house allowing for plenty of space for storage or once can possibly create their own private GYM! A great area to store your bicycles or house your favorite bottles of wine!
Only a few blocks away lies a shopping mecca of stores...Costco, Target, Starbucks, and Marshall's. The area is well known for fine restaurants such as Rao's and family eatery's like Patsy's. Parks, Playgrounds and River walk access are only two blocks away. As the seasons change so do the neighborhood festivals -- there are many exciting events celebrated in East Harlem throughout the year. To learn more please call or e-mail Guy today to schedule a private tour.
Listing History for 421 East 118th Street
Now
09/29/2017
$2,310,000
Sold and Closed by Guy Mahasri
R New York
04/18/2017
Contract Signed by Guy Mahasri
R New York
Building Details for 421 East 118th Street
OwnershipMulti-Family
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1909
Floors/Apts4/3
Transit and Citi Bike
Subway
116 St
0.42 miles
Citi Bike
1 Ave & E 118 St
0.04 miles
Pleasant Ave & E 120 St
0.14 miles
East Harlem | Manhattan
Quick Profile
Take a stroll through East Harlem and you’ll find a vibrant, culturally diverse neighborhood, which is evident no matter which direction you look. East Harlem is also known as Spanish Harlem, El Barrio, and “The Neighborhood,” as it is home to a population that represents Hispanic immigrants, primarily from Puerto Rico, as well as from Mexico, Cuba, and the Dominican Republic. These immigrants brought their cultures with them, in the form of music, dance, art, and food. During the day, you’ll find the neighborhood filled with opportunities to experience Latin culture. Both the salsa dance craze and the graffiti style of art were born right in East Harlem. There are many great places to sample authentic cuisine, from Rao’s (where you cannot get a table unless you inherit one, and any reservations must be booked years in advance) to sidewalk carts, where you can get the best “street meat” to be had in NYC.
In East Harlem you’ll find a number of innovative educational opportunities in the form of specialized and charter schools that are considered top-notch. Many of these have very competitive admissions criteria and offer curricula that focus on creativity and social awareness. Such schools are a draw for young families that want to raise their children in an educational system that goes above and beyond the standard.
The vibe of East Harlem is one of community and neighbors that interact with each other routinely. There are many small, family-owned and -operated businesses and restaurants that have been neighborhood anchors for years. As you stroll through East Harlem, you will be immersed in sights, sounds and flavors that are straight from Latin American or the Caribbean islands, sometimes both at once. You can sample Puerto Rican-inspired plantain mofongo, which is mashed plantains with garlic and pork rinds, from local sidewalk carts. Or if it is a hot summer’s day, you might enjoy a Mexican-inspired licuado, which is a blended drink similar to a smoothie, made with milk, fruit, and ice. Sometimes, spices, citrus juices, and sugar are added. Although you will find an abundance of authentic cuisine and music no matter where you look in East Harlem.
Prefer to cook at home? East River Plaza offers Target, Costco, and Aldi stores, all of which offer fresh food at reasonable prices.
East Harlem housing consists of more affordable walk-ups, low-rise pre-war buildings, brownstones, and is dominated housing complexes. You can find some comparatively large apartments at reasonable price points, and even some rent-stabilized apartments. Luxury co-op and condo units are being built on the southern boundary of East Harlem.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 25210TH
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