453 140Th St New York, NY 10031
- Residential income homes
- 4,863 SF
- 0.04 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 453 140Th St
- Year built
- 1920
- Lot size
- 0.04 lot acres
- Property size
- 4,863 SF
- Zone code
- R6A
- Property type
- Residential income homes
- Property subtype
- Serviced apartments
- APN
- 02057-0138
- APU
- 20570138
Description
This exceptional 4-unit multifamily property, located in Harlem's coveted Hamilton Heights neighborhood, presents a compelling investment opportunity. The 18-foot wide, 68-foot deep, five-story building, constructed in 1920, boasts 4,683 square feet on a 1,800 square foot lot and features three spacious 2-bedroom floor-through apartments, each with a split HVAC system, in-unit laundry, dishwasher, and microwave. One unit includes a private terrace. A unique duplex unit occupies the first two floors, offering a kitchen and bathroom on each level, a home office, and a private backyard. The building has undergone significant renovations, including entirely new plumbing, electrical systems, meters, panels, sewage lines, hot water heaters, and HVAC systems. Eight decorative fireplaces add to the pre-war charm, complemented by hardwood floors and recessed lighting throughout. The property currently generates a gross monthly rent of $15,400, with three two-year leases expiring in 2025. The Net Operating Income (NOI) is $186,800. Its prime location offers easy access to CUNY and Columbia University, numerous restaurants, shops, parks (including St. Nicholas Park, Jackie Robinson Park, and Riverbank State Park), and excellent public transportation, including the #1 train and multiple bus lines. The property is zoned R6A and includes 530 square feet of air rights. This is a rare opportunity to acquire a meticulously updated multifamily building in a highly desirable location, offering both strong rental income and significant upside potential. The sale is structured as a 1031 exchange.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,645,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,005,000
- 6.5%
- $1,810,000
- 7%
- $2,130,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,880,000
- Geo Method
- $1,625,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,975,000
- Retail
- $2,105,000
- Mixed-Use
- $1,980,000
- Hospitality
- $2,100,000
- Educational
- $1,950,000
- Residential Income
- $1,630,000
- Energy
- $2,090,000
- Income-Based Land
- $1,805,000
- Food Service
- $1,840,000
Location Insight
- Map
- Local Demand
- City
- New York
- County
- New York
- State
- New York
- Longitude
- -73.9488
- Latitude
- 40.8219
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
