Legal 3-Family Brick
For Sale
$1,888,888
5 E 117th St, New York, NY 10035
Brick legal three-family built in 2000, with a renovated first-floor 2 bed/1 bath unit and two upper apartments.
Property Size3,600 SF
Days on Market22
Property Features for 5 E 117th St
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Investment
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$13,769
Building Details
Building Size
3,600 SF
Year Built
2000
Units
3
Construction
brick
Tenancy
Multi
Listing Agency:
Realty Trends Corp
(516) 312-3223
Listed By:
Cheryl Rosenthal · License #10311207324
(516) 312-3223
Source:
Elliman
Added: Jul 21
Changed: Aug 10
Last Checked: Aug 10 at 8:28AM
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 Realty Trends Corp
Investment Insights
Based on property information with market context.
This brick legal 3-family residence was built in 2000 and is maintained in attractive condition. The first-floor apartment is a completely renovated 2-bedroom, 1-bath home. The second-floor offers an owner duplex with 3 bedrooms and 2 full baths. The final unit is a 2-bedroom, 1-bath apartment located above the owner duplex.
The property is located close to Central Park, described as within a two-block walk, and sits between Park Ave and 5th Ave.
With a total of three separate residential units arranged across the lower and upper floors, the building presents a straightforward multi-family configuration.
The property is located close to Central Park, described as within a two-block walk, and sits between Park Ave and 5th Ave.
With a total of three separate residential units arranged across the lower and upper floors, the building presents a straightforward multi-family configuration.
Key Highlights
- Legal 3‑family brick home built in 2000
- 1st‑floor unit: 2 bed, 1 bath apartment, completely renovated
- Owner duplex spans the 2nd and upper levels with 3 bedrooms and 2 full baths
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$121,837
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.45%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,436,740
$2.4M
Cap Rate 7%
$1,740,529
$1.7M
Cap Rate 9%
$1,353,744
$1.4M
Market Conditions
NOI Build-Up for 3,600 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$183.6K $51.00/SF
− Vacancy
−$9.5K −$2.65/SF
EGI
$174.1K $48.35/SF
− OpEx
−$52.2K −$14.50/SF
NOI
$121.8K $33.84/SF
Area
New York, NY
Vacancy
5.20%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,436,740
Cap Rate 7%
$1,740,529
Cap Rate 9%
$1,353,744
Alternative Uses
Best Use
Multifamily LT 5
$1.74M
$1.52M – $2.03M
NOI $121,837 @ 7.0% cap · market cap 6.45%
Second Best
Apartment 5plus
$1.61M
$1.41M – $1.88M
NOI $112,634 @ 7.0% cap · market cap 5.96%
Theoretical Best
Specialty Retail
$8.96M
$7.84M – $10.45M
NOI $627,264 @ 7.0% cap · market cap 33.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
8,504
Businesses Nearby
Explore this area
Business Placement
Demographics for 10035, NY
35,980
Population
16,340
Households
2.2
Avg Household Size
38
Median Age
31%
College-Educated
76%
High-School Grad
1.4 sq mi
ZIP Area
25,700
Density / Sq Mi
$40,556
Median Household Income
$44,042
Median Earnings
$1,283
Median Rent
$663,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Brick legal three-family built in 2000, with a renovated first-floor 2 bed/1 bath unit and two upper apartments.
Where is this triplex located?
The property is located at 5 E 117th St New York, NY.
What is the asking price?
The asking price for this property is $1,888,888.
What are key features of this property?
This property features: Legal 3‑family brick home built in 2000; 1st‑floor unit: 2 bed, 1 bath apartment, completely renovated; Owner duplex spans the 2nd and upper levels with 3 bedrooms and 2 full baths
