Updated 15 hours ago
East Harlem, Manhattan | Second Ave & First Ave
24.5 Rooms11 Beds10.5 Baths7,655 Square FeetIncome Property

floors / apts4 / 8
Lot Size25'x100'9"
Built Size25' wide
Building TypeLow-Rise
RE Taxes$58,164
Price Per SF

Listing Features

  • Central AC
  • Central Heat

Outdoor space and views

  • Backyard
  • Balcony

Building Amenities

  • Voice Intercom
  • Laundry Room
  • Roof Deck

Property Description

Fully occupied 8 unit rental building. All free market units.
Construction was completed May 2018
Over a 4% cap rate and only increasing as the rents recover from covid!
Yearly rental income: $257,700
Projected yearly income in 2025: $280,000
Yearly taxes: $58,162

Only Two units per floor. Front and back with the staircase in the middle.
First floor -
Front unit is a massive studio duplex. The rear unit is a 2 bedroom duplex with a massive back yard.
Second Floor -
Two large 1 bedroom units with a dining alcove that most use as a home office.
Third Floor -
Identical to the second floor but these units have large balconies.
Fourth Floor -
Two units, both are 2-bedroom duplex units with a balcony on the main floor and a large roof deck on the upper level.

All units have full sized washer dryers and high ceilings.

Listing History

Initial Price by Frank Seegitz
Douglas Elliman

Building Details

OwnershipIncome Property
Building TypeLow-Rise
Service LevelVoice Intercom
Year Built2018
Learn More About the Building

Transit and Citi Bike


116 St
0.29 miles
110 St
0.43 miles
125 St
0.49 miles

Citi Bike

E 116 St & 2 Ave
0.04 miles
E 118 St & 1 Ave
0.08 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: 84105TH