502 East 118th Street

About this property

First offering in 53 years, this three family townhouse with attached warehouse garage is extremely rare. This L shaped lot has approximately 12,164 buildable square feet and has 45 feet of frontage on East 118th Street. The 45 feet of frontage is best described in two parts, first the townhouse section is built 20 feet wide by 100 feet deep. Adjacent to that is the warehouse garage, which can fit up to 6 cars in it’s current configuration, and that is 25 feet wide by 50 feet deep. Please see attached floor plan and video for more information.

Not only is this lot configuration incredibly rare but the zoning is both residential and commercial (R7A, C4-4), which presents some very attractive development opportunities for the savvy investor. Located on a beautiful cobblestone street cul-de-sac, this convenient location is 1 block away from the East River Plaza mall which has Costco, Target, Marshalls, Aldi and Burlington Coat Factory and Planet Fitness, just to name a few. One block south you can take the 116th Street crosstown bus and the closest subway is the 6 train at 116th Street. Not only is public transportation incredibly convenient, the FDR entrace/exit is two blocks away and there is a bike/walking path.

This property is ripe for a rental conversion, condo development, a medical facility, commercial retail, a mixed use building or create an owner’s unit and live in house while earning income, convert to a single family home, identify for a 1031 exchange, or add a rental property to your investment portfolio. The property can be delivered vacant (currently owner occupied) and has only been lived in by the owner and the owner’s family. The possibilities are endless, contact us for an appointment to view this unique property today.

Listing Courtesy of Caroline Bass