7-Unit Mixed Use East Harlem, Manhattan, NY

$1,905,500
For Sale
Buildable: 10,092 Sqft
Property type: Multifamily
Gross Sqft (Sq Ft)
6,092
Units
7
Bedrooms
21
Commercial Units
2

Details

  • Lot Size: 2,523 Sq Ft
  • Zoning: R7A
  • Lot Dimensions: 25' x 100.92'
  • Lot Area: 2,523 Sqft
  • Building Dimensions: 25' x 60'
  • Residential Area: 4,569 Sqft
  • Commercial Area: 1,523 Sqft
  • Gross Sqft: 6,092 Sqft
  • Stories: 4
  • Residential Units: 7
  • Commercial Units: 2
  • Residential FAR: 4
  • Facility FAR: 4
  • FAR as built: 2.41
  • Buildable: 10,092 Sqft
  • Air Rights: 4,011 Sqft
  • Building Class: C7
  • Building Category: CX02
  • Construction: Masonry
  • Year Built: 1910
  • Tax Class: 2B
  • Taxes (20/21): $5,475

Financial details

  • Gross Scheduled Income: $225,245.64
  • Total Expenses: $67,514.52
  • NOI: $157,731.12
  • Cap Rate: 8.28%
  • Avg Cash-on-Cash: 16.36%
  • Unlevered IRR: 12.06%
  • Unlevered EMx: 2.50X
  • Levered IRR: 24.93%
  • Levered EMx: 5.64X
  • Min DSCR: 2.11X
  • Min Debt Yield: 11.26%

Highlights

  • ▶︎ 7 Three-Bed Apartments
  • ▶︎ 2 Retail Units
  • ▶︎ 4 Vacancies
  • ▶︎ 4,011 Sqft of Air Rights
  • ▶︎ 8.28% Cap Rate (Proforma)

Contact the Agent

Rowen Giles

New York Licensed Real Estate Salesperson
Rowen is a New York Licensed Real Estate Salesperson in association with D. White, a licensed broker. Hire Rowen as your real estate agent to represent you in the purchase or sale of residential and commercial real estate. Locations include Brooklyn, Bronx, Queens, Long Island, Staten Island, and upstate NY.