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431 West 48th Street
Midtown West, NYC
$3,350,000 Price
8 Bedrooms   8.0 Baths
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431 West 48th Street, Midtown West, NYC

Situated in the heart of Hell's Kitchen, Manhattan, 431 West 48th Street is a prime multi-family building offering significant upside and investment potential. Built in 1920 with recent renovations, this 6,560 sq. ft. building sits on a 2,510 sq. ft. lot and features 8units, all one-bedroom units,...

Situated in the heart of Hell's Kitchen, Manhattan, 431 West 48th Street is a prime multi-family building offering significant upside and investment potential. Built in 1920 with recent renovations, this 6,560 sq. ft. building sits on a 2,510 sq. ft. lot and features 8units, all one-bedroom units, and are well below market rate rents. 3 Rent Stabilized and 5 Free Market units in total.The property's prime location provides convenient access to public transportation, including major subway lines (A, C, E), bus routes, and bike lanes, as well as an array of dining, entertainment, and cultural venues, including Broadway and off-Broadway theaters. Nearby, residents can enjoy Central Park, Hudson River Park, and several local parks. The property currently generates a gross income of $203K per year and a net operating income (NOI) of $108K per year, with huge upside potential in rents and monetizing full ceiling height basement and incredible roof with views. Total Annual expenses are approximately $95K. The building is zoned R8, offering potential development opportunities with approximately 8,000 Sq Ft of unutilized air rights. Multiple areas for an experienced operator to maximize earning potential and reimagine spaces to increase rent roll. The area attracts a diverse tenant base ensuring high occupancy rates and consistent rental income

Courtesy of Corcoran Group

Floorplan for 431 West 48th Street

Floorplan for 431 West 48th Street

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* All information furnished regarding property for sale, rental, financing or estimated mortgage rates is from sources deemed reliable but no warranty or representation is made as to the accuracy thereof. For further financing information, please contact a Brown Harris Stevens agent.

Listing Details

Midtown West, NYC
Type: Townhouse
Price: $3,350,000
Re Tax: $41,664
Last Updated: 10/25/2024
Web ID: 1077303766

Info & Amenities

Type: Townhouse
Rooms: 24.0
Bedrooms: 8
Bathrooms: 8.0
Woodburning fireplaces: 1
Built: 1901
Pets allowed: Yes

Map of Area for 431 West 48TH Street

Get to Know Midtown West

Midtown West is located on the west side of Manhattan, New York City. It stretches from 34th Street to 59th Street and from the Hudson River to Eighth Avenue. This area is known for its bustling streets, diverse community, and proximity to some of the city's most iconic landmarks. Midtown West offers a mix of residential, commercial, and entertainment options, making it an attractive destination for both residents and visitors.

More About Midtown West

Neighborhood Guide to Midtown West

This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2024 The Real Estate Board of New York, Inc., All rights reserved.

All information is from sources deemed reliable but is subject to errors, omissions, changes in price, prior sale or withdrawal without notice. No representation is made as to the accuracy of any description. All measurements and square footages are approximate and all descriptive information should be confirmed by customer. All rights to content, photographs and graphics are reserved to Brown Harris Stevens. Customer should consult with its counsel regarding all closing and tax costs. Broker represents the seller/owner on Broker's own exclusives, except if another agent of Broker represents the buyer/tenant, in which case Broker will be a dual agent, in Connecticut, or , in New York State and New Jersey, a dual agent with designated or disclosed agents representing seller/owner and buyer/tenant. Broker represents the buyer/tenant when showing the exclusives of other real estate firms. In Florida, Broker acts as a Transaction Broker with all sellers and buyers, unless a different form of agency has been established in writing. If you are looking to purchase or rent housing, are using a screen reader, and are having problems using this website, please call 1-212-712-1163 for assistance. All phone charges will be reimbursed by Brown Harris Stevens. Broker actively supports Fair Housing and Equal Housing Opportunities. BHS has adopted the attached policy statement - Prior to showing a homebuyer a property or providing services: (1) BHS does not require identification from a prospective homebuyer, (2) BHS may require a written agreement from a homebuyer before showing properties; and (3) BHS does not require a pre-approval for a mortgage loan in order to show a homebuyer properties. However, based upon the requirements of the seller, the building in which the properties is located, or others, some or all of the foregoing items may be required. Listing information for certain New York City properties provided courtesy of the Real Estate Board of New York's Residential Listing Service (the "RLS"). The information contained in this listing has not been verified by the RLS and should be verified by the consumer. The listing information provided here is for the consumer's personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property. This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. 2024 The Real Estate Board of New York, Inc., all rights reserved. RLS Data display by Brown Harris Stevens. Powered by Terra Holdings.