West 48th Street Multifamily
For Sale
$3,499,000
Pending
367 W 48th St, New York, NY 10036
Seven free-market apartments, fully leased, strong investment opportunity.
Property Size5,700 SF
Lot Size0.03 Acres
Days on Market200
Property Features for 367 W 48th St
General Information
Standard status
Pending
Size
5,700 SF
Lot size
0.03 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$74,244
Building Details
Building Size
5,700 SF
Year Built
1920
Units
7
Listed By:
Shane Boyle
(917) 250-0290
Source:
Elliman
Added: Mar 23
Changed: Oct 4
Last Checked: Oct 7 at 12:17PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Shane Boyle
Investment Insights
Based on property information with market context.
The property at 367 West 48th Street is available for sale. This well-maintained building features seven free-market apartments. The units are fully leased, and long-term management is in place. The property offers multiple value-add opportunities, including potential for an owner-occupant with live-in income, as well as rental upside across the existing units. The location is convenient to major transportation, retail, and neighborhood amenities, presenting a strong investment opportunity with flexible use potential.
Key Highlights
- Fully leased building featuring seven free‑market apartments.
- Potential for rental upside across existing units.
- Convenient location near major transportation, retail, and neighborhood amenities.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$178,338
Cap Rate
5.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,566,760
$3.6M
Cap Rate 7%
$2,547,686
$2.5M
Cap Rate 9%
$1,981,533
$2.0M
Market Conditions
NOI Build-Up for 5,700 SF
Gross rent
$341.3K $59.88/SF
− Vacancy
−$17.1K −$2.99/SF
EGI
$324.3K $56.89/SF
− OpEx
−$145.9K −$25.60/SF
NOI
$178.3K $31.29/SF
Area
New York, NY
Vacancy
5.00%
Lease Rate
$59.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,566,760
Cap Rate 7%
$2,547,686
Cap Rate 9%
$1,981,533
Alternative Uses
Best Use
Apartment 5plus
$2.55M
$2.23M – $2.97M
NOI $178,338 @ 7.0% cap · market cap 5.10%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$14.19M
$12.41M – $16.55M
NOI $993,168 @ 7.0% cap · market cap 28.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
42,091
Businesses Nearby
Explore this area
Business Placement
Demographics for 10036, NY
33,868
Population
22,473
Households
1.5
Avg Household Size
37
Median Age
69%
College-Educated
93%
High-School Grad
0.4 sq mi
ZIP Area
84,670
Density / Sq Mi
$100,225
Median Household Income
$86,122
Median Earnings
$2,301
Median Rent
$988,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Seven free-market apartments, fully leased, strong investment opportunity.
Where is this apartment building located?
The property is located at 367 W 48th St New York, NY.
What is the asking price?
The asking price for this property is $3,499,000.
What are key features of this property?
This property features: Fully leased building featuring seven free‑market apartments.; Potential for rental upside across existing units.; Convenient location near major transportation, retail, and neighborhood amenities.
