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    112 E 123rd Street

    Newyork, NY 10035
    • $3,450,000
    • STATUS: Active
    • ON SITE: 43 days
    • MLS #: H6105812
    UPDATED: 47 min ago
    $3,450,000
    • 12
      BEDS
    • N/A
      ACRES
    • 7
      BATHS
    • 0
      1/2 BATHS
    • 6,300
      SQFT
    • $548
      $/SQFT
    Neighborhood:
    Type:
    Single-Family Home
    County:
    Area:

    School Information

    Elementary School:
    Middle School:
    School District:

    Description

    112 East 123rd Street represents a fantastic opportunity for an investor or owner-landlord. Built in 1900 and renovated in 2001, the property is a spacious Neo-Grec four-family rental investment townhouse located in Central Harlem. At fully 20 feet wide and 63 feet deep, the property has approximately 6,300 square feet of space including the Garden Level workshop and recreation room, with potential for an additional 966 square feet of buildable area. As such it has potential to generate a significant capitalization rate (CAP rate) and cash on cash return, and would also have significant potential as a condominium conversion once an elevator is added.The upper three floor-through apartments, which are all currently four-bedroom two-bathroom units, and the Parlor Level, are loft-style, boasting high ceilings, exposed brick, large windows throughout supplying abundant natural light, open-plan kitchens and tiled bathrooms. All have separate electric and (cooking) gas meters and are wired for cable and internet. The Garden Level has ten-foot ceilings, large windows and access to the spacious back yard, and could readily be renovated and duplexed with the Parlor Level. The roof is accessed via a bulkhead, and a Penthouse could also be added and duplexed with the Top Floor apartment. Real estate taxes currently stand at just $3,732.60 for the 2021-2022 tax year. This property is just a few steps from shopping on 125th St, with Whole Foods, Bed Bath and Beyond and more, and close to Harlem's Restaurant Row. It is also conveniently close to transportation options including the 4/5/6 and 2/3 subway lines, Metro North, and the M2/3/4 and M101/102/103 bus lines. For recreation, 112 East 123rd Street St is positioned close to Mount Morris Park.112 East 123rd Street offers a truly outstanding investment opportunity - please contact us today for your private showing.

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    © 2021 OneKey MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Laurie Savino Realtor | RE/MAX. Data last updated: 2021-05-14T19:17:56.27.
    www.lauriesavino.com/homes/115646552
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    112 E 123rd Street Newyork, NY 10035

    • Price: $3,450,000
    • Status: Active
    • Updated: 47 min ago
    • MLS #: H6105812
    12
    Beds
    7
    Baths
    0
    ½ Baths
    N/A
    Acres
    6,300
    SQFT
    $548
    $/SQFT
    Neighborhood:
    New York
    County:
    Manhattan
    Area:
    New York
    Elementary School:
    Call Listing Agent
    Middle School:
    Call Listing Agent
    School District:
    City Of New York
    Property Description
    112 East 123rd Street represents a fantastic opportunity for an investor or owner-landlord. Built in 1900 and renovated in 2001, the property is a spacious Neo-Grec four-family rental investment townhouse located in Central Harlem. At fully 20 feet wide and 63 feet deep, the property has approximately 6,300 square feet of space including the Garden Level workshop and recreation room, with potential for an additional 966 square feet of buildable area. As such it has potential to generate a significant capitalization rate (CAP rate) and cash on cash return, and would also have significant potential as a condominium conversion once an elevator is added.The upper three floor-through apartments, which are all currently four-bedroom two-bathroom units, and the Parlor Level, are loft-style, boasting high ceilings, exposed brick, large windows throughout supplying abundant natural light, open-plan kitchens and tiled bathrooms. All have separate electric and (cooking) gas meters and are wired for cable and internet. The Garden Level has ten-foot ceilings, large windows and access to the spacious back yard, and could readily be renovated and duplexed with the Parlor Level. The roof is accessed via a bulkhead, and a Penthouse could also be added and duplexed with the Top Floor apartment. Real estate taxes currently stand at just $3,732.60 for the 2021-2022 tax year. This property is just a few steps from shopping on 125th St, with Whole Foods, Bed Bath and Beyond and more, and close to Harlem's Restaurant Row. It is also conveniently close to transportation options including the 4/5/6 and 2/3 subway lines, Metro North, and the M2/3/4 and M101/102/103 bus lines. For recreation, 112 East 123rd Street St is positioned close to Mount Morris Park.112 East 123rd Street offers a truly outstanding investment opportunity - please contact us today for your private showing.
    Exterior Features

    Attached Garage YN No Garage YN No Lot Features Garden Parking Features Other

    Interior Features

    Attic Description See Remarks Basement See Remarks Cooling None Cooling YN No Flooring Hardwood Heating OtherSee Remarks Interior Features High CeilingsStorage Rooms Total 26

    Property Features

    Community Features Outdoor Space Property Sub Type Single Family Residence Senior Community YN No Tax Annual Amount 3732.00 Water Source See Remarks

    Listing courtesy of Robert Pair of Harlem Lofts Inc..
    © 2021 OneKey MLS. All rights reserved.


    © 2021 OneKey MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Laurie Savino Realtor | RE/MAX. Data last updated: 2021-05-14T19:17:56.27.
     
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    Laurie Savino Realtor | RE/MAX
    8201 3rd Avenue
    Brooklyn NY, 11209