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1889 Lexington Avenue, New York, NY 10035

$1,890,000

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BEDS0 BATHS MLS#934278

STATUSActive PROPERTY TYPECommercial -

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Property Description

*. Excellent opportunity to acquire a 12-UNIT multifamily building in the heart of East Harlem, NY. This well-maintained, Fire Sprinkler installed, renovated walk-up property is filled with spacious pre-war apartments, ranging from Bedrooms (x5), Studios (x6) and Two-Bedroom Apt (x1) that attract a strong rental demand and provide steady cash flow. Fully occupied, all apartments are rent-stabilized, with no rent control. Rental Income: $160,200, Operating Expense:$40,506, Net Oper Income: $119,694. The building is situated in a prime location, surrounded by numerous shopping and dining options.*. For Hotel, this building is zoned for Hotel operation if desired.*. For Maximum buildable area, you even can build extra three stories (x3) if needed.*. With a CAP rate 6% as well as $120,000 annually in Net Profit, the property offers immediate income as well as long-term appreciation potential. Detailed ROI can be provided upon request.

1889 Lexington Avenue | MLS# 934278

This commercial property located at 1889 Lexington Avenue, New York, NY 10035 is currently listed for sale with an asking price of $1,890,000. Search New York real estate on www.laffey.com today.

Property Features

Property Type: Commercial -

Basement: Finished, Full

Basement: Yes

Cooling: Wall/Window Unit(s)

Heating: Steam

Lot Size: 0.03 Acres

Taxes: $12,708

Year Built: 1890

Feature Descriptions

Building Area Total: 2340

Days on Site: 116

Exterior: Brick

On Market Date: 2025-11-10

Parcel Number: 1645-0153

Parking Features: None

Property Attached Y/N: 1

Rental Term: Monthly

Sewer: Public Sewer

Units: 12

Utilities: Electricity Connected, Natural Gas Connected, Phone Connected, See Remarks, Sewer Connected, Trash Collection Public, Water Connected

Water: Public

Local Schools

Elementary School: Ps 7 Samuel Stern

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55 Northern Blvd
Greenvale, NY 11548

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1889 Lexington Avenue, New York, NY 10035

Property Description

1889 Lexington Avenue | MLS# 934278

Property Features

Feature Descriptions

Local Schools

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1889 Lexington Avenue, New York, NY 10035

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