$1,950,000 $2,180,000
Updated 16 hours ago

515.5 East 118th Street

East Harlem, Manhattan | Pleasant Ave & East 118th Street

12 Rooms8 Beds4 Baths2,405 Square FeetMulti-Family

$1,950,000 $2,180,000
floors / apts4 / 2
Lot Size16'7"x100'9"
Built Size17'x48'
ZoneR7B
Building TypeTownhouse
RE Taxes$1,827
Price Per SF
$811

Listing Features

  • Electric Heat
  • Through The Wall

Outdoor space and views

  • Backyard
  • Garden Views
  • Townhouse Views

Building Amenities

  • Second Entry

Property Description for 515.5 East 118th Street

Nestled in the historic neighborhood of East Harlem on a quiet dead end street, this completely renovated 2-family brownstone presents a unique investment opportunity for discerning buyers. This stunning property spans four stories high plus a fully finished basement, featuring 10-foot ceilings that combines modern design with the building's original facade. This is a legal 2 family / SRO. The property fits any buyer looking. This gem is perfectly laid out allowing the end user to simply add a wall and door and create an owner's duplex or triplex with a rental unit above, or have a 4-bedroom rental over a 4-bedroom rental if rental income is the priority. Highlights & Values - Fully Renovated: Enjoy the perfect blend of modern elegance and historical charm in this fully updated brownstone. - Optimal Flexibility: The property will be delivered 100% vacant, allowing potential owners to tailor the space according to their preferences and investment goals. - Ample Space: With each floor featuring a full bath, the layout is both practical and luxurious. - Premium Finishes & Modern Kitchen: Hardwood cream floors, 6-foot-tall windows, and an abundance of natural sunlight create a warm and inviting atmosphere. Two European-style kitchens equipped with white marble countertops, white cabinets, and gold accessories offer a simple yet sophisticated feel. - Prime Location: Centrally located in East Harlem, this property sits at the nexus of convenience and charm. The iconic East River Plaza, home to Costco, Marshalls, Old Navy, Aldi & more is a stone's throw away. This neighborhood offers a vibrant mix of shopping, dining, and entertainment options. - Efficient Transit & Connectivity: Benefit from seamless transportation options, making daily commutes and leisurely travels equally convenient. - Solid Income Potential: Given its size, location, and unit mix, this property is poised to provide a steady and significant income stream, making it a coveted asset for those looking to bolster their real estate portfolio. This brownstone is 17ft x 48ft with over 60ft in the backyard and an excellent investment opportunity for both first-time homebuyers and seasoned investors, with high rental potential in a sought-after location.

Listing History for 515.5 East 118th Street

Now
10/14/2024
$1,950,000 [-$230,000] [10.6%]
Price Drop by Chris Bowser
Coldwell Banker Reliable
10/14/2024
New Agency by Chris Bowser
Coldwell Banker Reliable

Building Details for 515.5 East 118th Street

OwnershipMulti-Family
Building TypeTownhouse
AgePre-War
AccessWalk-up
Year Built1900
Floors/Apts4/2
Learn More About the Building

Transit and Citi Bike

Subway

116 St
0.16 miles
125 St
0.36 miles
110 St
0.41 miles

Railroad

Harlem-125 StMetro-North Railroad
0.42 miles

Citi Bike

E 118 St & 3 Ave
0.02 miles
E 116 St & 2 Ave
0.17 miles

Contact Agent

Contact Agent

Licensed As
Christopher Bowser
Salesperson
License#:
10401320427
Company:
Coldwell Banker Reliable
Chris Bowser
Coldwell Banker Reliable
View this property on the company's website

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: 96284TH