213 E 120th St - Apartments FOR SALE


New York, NY 10035- East Harlem
$1,890,000 USD
718-475-4348
213 E 120th St, New York, NY for Sale
$1,890,000 USD
Apartments - FOR SALE
1/44
null | Request Cap Rate

213 E 120th St
New York, NY 10035
East Harlem


HIGHLIGHTS

  • Delivered Vacant: Immediate ability to begin renovations and implement a repositioning plan without tenant buyouts or delays.
  • 3 Residential + 1 Retail Studio: Versatile layout with a semi finished basement and outdoor access ideal for retail, creative office, or owner-user.
  • Tax Class 2A: Provides protection against volatile tax increases, allowing for more predictable expense management.
  • Prime East Harlem Location: Just off Lexington Avenue and within walking distance of the 4/5/6 subway, Metro-North, and East River Plaza.
  • Value-Add Upside: Potential to increase income through full interior modernization, improved layouts, and strategic leasing.
  • Zoning (R7A/C1-5): Offers long-term optionality for redevelopment or expansion (subject to DOB/zoning review).

OVERVIEW

213 E 120th Street presents a compelling value-add investment opportunity located in the rapidly evolving East Harlem sub-market. The property will be delivered fully vacant, offering immediate execution potential with untapped upside through renovation, repositioning, and improved operational efficiency. Each residential unit is pre-plumbed for an in-unit washer and dryer, enhancing tenant appeal, and the ground-floor retail/studio unit enjoys its own private outdoor patio access—ideal for café seating or creative workspace. This is a rare opportunity for an investor or developer to maximize returns on a boutique mixed-use asset in a high-growth corridor. To support the value-add strategy, an architectural proposal has been included to expedite the addition of mezzanine space on Floor One, with the intent to convert the ground-level unit into a full 2-bedroom, 1-bath residence. This configuration would increase the usable square footage, enhance the unit mix, and unlock additional rental revenue—strengthening both the short-term cash flow and long-term valuation of the asset.

FOR SALE DETAILS

PRICE

$1,890,000 USD

PRICE/SF

$438 USD /SF

# OF UNITS

4

PRICE/UNIT

$472,500

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1899

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

2,178 SF

ZONING

R7A

APN/PARCEL ID

1785-0007

ASK ABOUT THIS PROPERTY

Jakub NowakMarcus & MillichapMore Info
718-475-4348

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Jakub NowakMarcus & MillichapMore Info
718-475-4348

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.