Residential Income Property with In-Unit
249 E 118th Street 2-D, Manhattan, NY 10035
For Sale
$750,000
Pending
Two bedrooms, two full baths, and a kitchen with GE Profile appliances provide a practical apartment layout.
Property Size927 SF
Days on Market280
Property Features for 249 E 118th Street 2-D
General Information
Standard status
Size
Property subtype
Additional Details
Public Transit
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
fitness center
virtual doorman
Building Details
Building Size
Year Built
Listing Agency:
Trump International Realty New York
Listed By:
Nitza Shafrir
(212) 247-7100
Source:
Irynaferenets
Added: Feb 3
Changed: Nov 4
Last Checked: Nov 9 at 8:49AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Trump International Realty New York
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Investment Insights
Based on property information with market context.
This 927-square-foot residence has two bedrooms and two full bathrooms. Oversized windows face south and east, while hardwood flooring runs throughout. The kitchen is equipped with GE Profile appliances and quartz countertops. The primary bedroom has corner windows and an en-suite bathroom with honey onyx marble; the second bedroom also faces south. An in-unit vented GE washer and dryer adds everyday convenience.
The Ivy Condo, built in 2006, offers a fitness center and virtual doorman. The building is a few blocks from the 6 train and near shopping and local restaurants. About 7 years remain on the 25-year tax abatement.
The Ivy Condo, built in 2006, offers a fitness center and virtual doorman. The building is a few blocks from the 6 train and near shopping and local restaurants. About 7 years remain on the 25-year tax abatement.
Key Highlights
- 927‑square‑foot residence with two bedrooms and two full baths
- South- and east‑facing oversized windows; hardwood flooring throughout
- Kitchen includes GE Profile appliances and quartz countertops
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,003
Cap Rate
3.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$580,060
$580.1K
Cap Rate 7%
$414,329
$414.3K
Cap Rate 9%
$322,256
$322.3K
Market Conditions
NOI Build-Up for 927 SF
Gross rent
$55.5K $59.88/SF
− Vacancy
−$2.8K −$2.99/SF
EGI
$52.7K $56.89/SF
− OpEx
−$23.7K −$25.60/SF
NOI
$29.0K $31.29/SF
Area
New York, NY
Vacancy
5.00%
Lease Rate
$59.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$580,060
Cap Rate 7%
$414,329
Cap Rate 9%
$322,256
Alternative Uses
Best Use
Apartment 5plus
$414.3K
$362.5K – $483.4K
NOI $29,003 @ 7.0% cap · market cap 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$648.1K
$567.1K – $756.1K
NOI $45,366 @ 7.0% cap · market cap 6.05%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
6,680
Businesses Nearby
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Business Placement
Demographics for 10035, NY
35,980
Population
16,340
Households
2.2
Avg Household Size
38
Median Age
31%
College-Educated
76%
High-School Grad
1.4 sq mi
ZIP Area
25,700
Density / Sq Mi
$40,556
Median Household Income
$44,042
Median Earnings
$1,283
Median Rent
$663,500
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Manhattan, NY
Properties on Market for Residential income properties in Manhattan
Frequently Asked Questions
What type of property is this?
Residential income property - Two bedrooms, two full baths, and a kitchen with GE Profile appliances provide a practical apartment layout.
Where is this residential income property located?
The property is located at 249 E 118th Street 2-D Manhattan, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 927‑square‑foot residence with two bedrooms and two full baths; South- and east‑facing oversized windows; hardwood flooring throughout; Kitchen includes GE Profile appliances and quartz countertops
