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28959861
28959862

301 W 138th St, New York, NY 10030

KS
NY 10311209805, TX 764870
Salmon RE
DB
NY NY 10311206789
Salmon RE
Salmon RE
Listed by Salmon RE
$2,350,000
325 days on market
Updated 167 days ago

301 W 138th St

Details
Property Type Retail, Multifamily
Sub Type Apartment Building
Square Footage 7,010
Units 10
Cap Rate 5.82%
NOI $136,674
Occupancy 100%
Tenancy Multi
Lease Type NN+
Remaining Term 5
Pro-Forma Cap Rate 8.10%
Pro-Forma NOI $189,880
Price per SqFt $335
Class C
Year Built 1920
Year Renovated 1992
Buildings 1
Stories 5
Lot Size (SqFt) 1,425
Ownership Fee Simple

Retail | 5.82% CAP | 7,010 SqFt

Marketing description

“SELLER FINANCING CONSIDERED”

2591 Frederick Douglass Boulevard, New York, NY 10030 (the “Property”) located on the corner of 138th Street and Frederick Douglass Boulevard in the Harlem neighborhood of Manhattan. 5-story 7,010± SF corner mixed use building built on a 1,500± Sf lot. Zoned R7-2, C1-4 with 7 residential units and 2 commercial units. A few blocks from the 135th Street [A, B, C] subway station.

301 W 138th Street is located in the historic neighborhood of Harlem in Manhattan, New York City. More specifically, it lies within the subsection known as Strivers' Row, which is known for its elegant row houses and significant architectural history. The area is a blend of residential and commercial properties, with a rich cultural heritage that includes landmarks of the Harlem Renaissance. The street is tree-lined, and the neighborhood is generally quiet and residential, known for its strong community feel. The location is relatively close to various amenities, such as shops, restaurants, galleries, and entertainment venues that cater to diverse tastes. The area has easy access to public transportation, with several subway lines serving the neighborhood, facilitating convenient travel to downtown Manhattan and other boroughs. The vicinity also includes a number of schools, parks, and historic churches, adding to the community atmosphere. Overall, 301 W 138th Street is situated in an area that boasts a mix of urban vitality and residential tranquility, with a deep sense of historical significance.

Investment highlights

  • Prime location at the corner of 138th Street and Frederick Douglass Boulevard in the vibrant Harlem neighborhood of Manhattan.

  • Built on a 1,500± square feet lot, the property provides a substantial 7,010± square feet of space, maximizing the building capacity of the lot.

  • Benefiting from the R7-2, C1-4 zoning, which allows for a variety of residential and commercial uses, giving potential owners flexibility in property utilization and optimization.

  • Versatile mixed-use building with five stories, offering a blend of seven residential units and two commercial units for diverse revenue streams.

  • Convenient access to public transportation, with the 135th Street [A, B, C] subway station just a few blocks away, providing easy connectivity to the rest of New York City.

Listing Contacts

KS
NY 10311209805, TX 764870
Salmon RE
DB
NY NY 10311206789
Salmon RE
Salmon RE
Listed by Salmon RE

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$136,674.00
$11,389.50/mo

Valuation Metrics

0
DSCR
5.82%
Cap Rate
5.82%
ROI

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Additional Information

Name
Kevin Salmon
License
10311209805
Brokerage Phone
9175594865
Title
Broker
Name
Daniel Brizan
License
NY 10311206789
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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