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    539 147Th St New York, NY 10031

    Sponsored
    For Sale
    $1,100,000

    Prime Harlem location, 8 rent-stabilized units.

    Property size:
    3,200 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents an eight-unit multifamily building located in the desirable Hamilton Heights/Sugar Hill neighborhood of New York City. The property, situated at 539 W 147th St, zip code 10031, is a three-story, 3,200 square foot building constructed in 1901. Currently boasting 88% occupancy, the building comprises eight rent-stabilized studio units, offering a stable income stream. The property features a new roof and gas line, along with consistently maintained mechanical systems and structure. The building benefits from R6 permitted zoning and includes valuable air rights totaling 1,597 square feet, presenting potential for future expansion or development. The 1,598 square foot lot is situated on a quiet, tree-lined street, just two and a half blocks from the 145th Street #1 train station, providing convenient access to public transportation. Its proximity to Columbia University, Yeshiva University, and City College of New York (CCNY) further enhances its appeal. The building is also conveniently located near popular local establishments. The asking price is $1,100,000, representing a price per unit of $137,500 and a price per square foot of $343.75. The current Net Operating Income (NOI) is $77,846, yielding a 7.08% capitalization rate. This property offers a compelling combination of stable income, development potential, and a prime location in a rapidly appreciating neighborhood. The property is being sold by the owner and is not subject to a ground lease.

    Property Features for 539 147Th St

    General Information

    Property type
    Multifamily properties
    Square Feet
    3,200 SF
    Class
    B

    Building Details

    Year Built
    1901
    Buildings
    1
    Stories
    3
    Units
    8

    HighLights

    • Eight rent‑stabilized studio units in a three‑story building.
    • Located at 539 W 147th St, New York, NY 10031, in the Hamilton Heights/Sugar Hill neighborhood.
    • 3,200 square feet on a 1,598 square foot lot with 1,597 square feet of air rights.
    • $1,100,000 asking price ($137,500 per unit, $343.75 per square foot).
    • 7.08% capitalization rate with a projected 2024 NOI of $78,242.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential income homes

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.948432641291
    Latitude
    40.827280992745

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    FAQs

    What type of property is this?
    Multifamily property - Prime Harlem location, 8 rent-stabilized units.
    Where is this multifamily property located?
    The property is located at 539 147Th St New York, NY.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: Eight rent-stabilized studio units in a three-story building.; Located at 539 W 147th St, New York, NY 10031, in the Hamilton Heights/Sugar Hill neighborhood.; 3,200 square feet on a 1,598 square foot lot with 1,597 square feet of air rights.
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    New York, NY 10031
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    539 147Th St New York, NY 10031
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