$3,900,000
Updated 8 years ago
Off Market

75 West 118th Street

Harlem, Manhattan | Fifth Ave & Lenox Ave

8 Beds8.5 Baths5,200 Square FeetRental Property

$3,900,000
floors / apts4 / 8
Lot Size20'x100'92"
Built Size20'x65'
ZoneR7-2
Building TypeTownhouse
RE Taxes$20,152
Price Per SF
$750

Listing Features

  • High Ceilings
  • New Windows
  • Central AC
  • Central Heat

Outdoor space and views

  • Backyard [20'x35']

Building Amenities

  • Voice Intercom

Property Description for 75 West 118th Street

Fantastic opportunity to acquire this renovated 8 unit multi family income generating Brownstone located in a prime residential neighborhood! Easy Condo Conversion!

Rent Roll:
All Apartments are Full Market Rate: Three studios and five 1 bedrooms.

$16,250 Monthly Rent Roll $195,000 Annual

Expenses:
Taxes $19,055.72
Elec/Gas $2304
Water $2000
Super $2760
Total Expenses: $26,119.72
Net Income: $168,880.28
Cap Rate: 3.8 %

Just minutes away from Harlem's best restaurants, transportation, historic Lenox Avenue and the new Whole Foods.

This gorgeous 3 story (4 floors) plus finished basement would be delivered fully occupied. Great opportunity for both seasoned and first time investors.

The entire building has been completely gut renovated and is in tip top condition. Each of the 8 apartments have their own separate utility meters (electric power & gas heated boilers). Central heating and air are paid by the tenant. The landlord is only responsible for heating, cooling and utilities for the common areas and the cellar.

Building Specs:
Lot sq. ft. 2,018
Lot dimensions: 20 ft x 100.92 ft
3.44 MAX Floor Area Ratio (FAR)
2.58 FAR as built
Maximum usable floor area = 6,942
Usable floor area 5,206
Building sq. ft. 5,200
Building dimensions 20 ft x 65 ft
Stories 3 (4 Floors)
Year Built 1909
Has a Certificate of Occupancy
Schedule an appointment today with Belinda Munro!

Listing History for 75 West 118th Street

Now
08/14/2018
POM by Belinda Munro
Perry Associates NYC, Inc.
2018

Building Details for 75 West 118th Street

OwnershipRental Property
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1909
Floors/Apts4/8
Learn More About the Building

Transit and Citi Bike

Subway

116 St
0.12 miles
125 St
0.34 miles
110 St-Malcolm X Plaza
0.35 miles
116 St
0.39 miles
116 St
0.45 miles

Railroad

Harlem-125 StMetro-North Railroad
0.47 miles

Citi Bike

Lenox Ave & W 117 St
0.08 miles
Mt Morris Park W & W 120 St
0.11 miles

Contact Agent

Contact Agent

Belinda Munro
Perry Associates NYC, Inc.

Harlem | Manhattan

Quick Profile

The neighborhood called West Harlem by the locals is known as Manhattanville to neighborhood newcomers. The area is culturally diverse and might be considered a microcosm of the city as a whole. 

Columbia University has recently expanded into the area, which is attracting student residents from all over the world. Together with students from the City College of New York and young professionals fleeing higher prices in other neighborhoods, this influx of younger residents has brought with it more restaurants and bars on W 125th Street to serve this clientele. There are also new ventures, like a rock-climbing gym, to cater to the interests of these students and young professionals. At the same time, there are many small, family-owned shops and restaurants that have been anchors of the neighborhood for multiple generations.

The area has been through a housing upgrade, as older properties have been renovated and abandoned properties have been razed to make room for new development. There are still reasonably priced apartments available. Young professionals are finding that there is a certain cachet to living in West Harlem. It provides a convenient commute to the city and all of its amenities, while providing a sense of escape at the end of a long work day.

While rentals are popular with the student population, the young professionals are delighted to find pre-war brownstones, pre-war co-ops (including some income-capped HDFCs for lower- and middle-income buyers), and post-war condos that they can afford, although prices are rising. Some new low-rise developments, sporting virtual doormen and desired amenities, are cropping up.

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: 66565TH