172 East 112th Street

172 East 112th Street presents a 20-unit mixed-use investment opportunity in East Harlem, Manhattan, offered at $3,240,000. The property consists of 18 rent-stabilized residential apartments and two ground-floor retail spaces . The property currently generates approximately $406,450 in annual gross operating revenue and $228,230 in actual NOI , representing a 7.04% current capitalization rate . Apartments 2D and 3B are currently vacant , with no income from either unit included in the current NOI. Apartment 2D is currently undergoing renovation, with ownership projecting approximately $2,500 per month upon completion , while Apartment 3B is projected at approximately $2,100 per month . Together, the two units represent approximately $55,200 in potential additional annual gross income , resulting in a projected 8.75% pro forma capitalization rate . Both ground-floor retail spaces are occupied under long-term leases, providing an established commercial income stream. Asking Price: $3,240,000 Current Cap: 7.04% Pro Forma Cap: 8.75% $162,000 Per Unit