314 W 142nd St - Apartments FOR SALE


New York, NY 10030- Central Harlem
$4,950,000 USD
212-430-5136
314 W 142nd St, New York, NY for Sale
$4,950,000 USD
Apartments - FOR SALE
1/21
null | 6.9% Cap Rate

314 W 142nd St
New York, NY 10030
Central Harlem


HIGHLIGHTS

  • 90% free market
  • This 20-unit walk-up comprises 10 studio, 1 one-bedroom, and 9 two-bedroom apartments with an average rent of $2,026 per month.
  • 18 of the building's 20 apartments are free market, providing investors with a clear path to future rent growth.

OVERVIEW

The New York Multifamily Team at Marcus & Millichap is pleased to present 314 West 142nd Street, a predominantly free-market walk-up in the heart of Harlem. Situated between Frederick Douglass Boulevard & Bradhurst Avenue, this asset is composed of 20 apartments and spans 8,400 square feet. Professionally owned and operated by the same family for nearly 40 years, this 90% free market property offers investors a rare opportunity to acquire a largely unrestricted rent roll, with 18 of its 20 units unencumbered by rent stabilization. With an average rent of $2,026 per apartment, this asset is composed of a favorable unit-mix of 10 studio, 1 one-bedroom, and 9 twobedroom apartments. 314 W 142nd Street is ideally located near the City College of New York, St. Nicholas Park, and the 145th Street train station.

FOR SALE DETAILS

PRICE

$4,950,000 USD

PRICE/SF

$589 USD /SF

# OF UNITS

20

PRICE/UNIT

$247,500

CAP RATE

6.9%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

1920

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,614 SF

ZONING

R7-2

APN/PARCEL ID

2043-0023

ASK ABOUT THIS PROPERTY

Seth GlasserMarcus & MillichapMore Info
212-430-5136

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Seth GlasserMarcus & MillichapMore Info
212-430-5136

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