112 West 138th Street
New York, NY
Overview
- Asking Price $7,500,000
- Total Square Footage 38,904 SF
- Neighborhood Harlem
- Units 54
Avison Young, as exclusive agent, is pleased to offer for sale 112 West 138th Street (the “Property”), a well-maintained, 54-unit, elevator multifamily building located on a tree-lined block between Malcolm X Boulevard and Adam Clayton Powell Jr. Boulevard in the heart of Harlem.
This exceptionally well-maintained and professionally managed property offers a blend of one- bedroom and two-bedroom apartments, with multiple units featuring recently renovated kitchens and bathrooms. The building also includes on-site laundry facilities for additional income and enhanced tenant convenience.
Highlights
Adjacent to the 2/3 Subway station
Located amid a wave of new residential and mixed-use projects transforming Central Harlem
Average In-Place Rents of $1,777, Average Legal Rents of $1,905
Institutional ownership has upgraded building operating systems
Thirty (30) one-bedroom units, Nineteen (19) two-bedroom two-bathroom units and Five (5) studio units
Strong Tenancy - minimal arrears and violation levels
High Quality Elevator Building with strong cash-flow, well below replacement cost
