Renovated Three-Family
For Sale
$2,550,000
481 W 145TH Street TH, New York City, NY 10031
Complete system updates support an owner’s duplex, two one-bedroom apartments, private gardens, and off-street parking.
Property Size3,666 SF
Lot Size0.09 Acres
Price / SF$695.58
Days on Market693
Property Features for 481 W 145TH Street TH
General Information
Standard status
Active
Size
3,666 SF
Total Parking Spaces
4
Lot size
0.09 Acres
Property subtype
Triplex
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x owner's duplex, 2 x 1BR floor-through
Multifamily Units
3
Amenities
French-inspired garden
Zen garden with water feature
Building Details
Building Size
3,666 SF
Year Built
1926
Buildings
1
Construction
Queen Anne-style
Listing Agency:
Serhant
Listed By:
Stanley P Montfort
(908) 414-6006
Source:
Miradorrealestate
Added: Oct 30, 2024
Changed: Sep 22
Last Checked: Sep 22 at 1:39PM
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 Serhant
Investment Insights
Based on property information with market context.
Located at 481 W 145th Street in New York City’s Hamilton Heights, this 3,666-square-foot townhouse contains three residential units. The main residence is arranged as an owner’s duplex with a full basement, while two upper-level floor-through apartments each provide one bedroom. Plumbing, heating, and electrical systems were replaced during a comprehensive renovation, and the 1926 Queen Anne-style design remains part of the property’s character.
The property spans two combined lots with a 41 x 100-foot footprint. Outdoor space includes two distinct gardens, one French-inspired and one designed as a Zen retreat with a lighted water feature. Private parking accommodates up to four cars. The property also includes 12,000 sq ft of unused air rights. Access to the A, B, C, D, and 1 subway lines is nearby, with Harlem dining, Riverside State Park, and the 125th Street shopping district in the surrounding area.
The property spans two combined lots with a 41 x 100-foot footprint. Outdoor space includes two distinct gardens, one French-inspired and one designed as a Zen retreat with a lighted water feature. Private parking accommodates up to four cars. The property also includes 12,000 sq ft of unused air rights. Access to the A, B, C, D, and 1 subway lines is nearby, with Harlem dining, Riverside State Park, and the 125th Street shopping district in the surrounding area.
Key Highlights
- Three‑family townhouse totaling 3,666 square feet
- Owner’s duplex with full basement plus two one‑bedroom floor‑through apartments
- Comprehensive renovation replaced plumbing, heating, and electrical systems
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
$124,071
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
4.87%
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%
$2,481,420
$2.5M
Cap Rate 7%
$1,772,443
$1.8M
Cap Rate 9%
$1,378,567
$1.4M
Market Conditions
NOI Build-Up for 3,666 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
$187.0K $51.00/SF
− Vacancy
−$9.7K −$2.65/SF
EGI
$177.2K $48.35/SF
− OpEx
−$53.2K −$14.50/SF
NOI
$124.1K $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%
$2,481,420
Cap Rate 7%
$1,772,443
Cap Rate 9%
$1,378,567
Alternative Uses
Best Use
Multifamily LT 5
$1.77M
$1.55M – $2.07M
NOI $124,071 @ 7.0% cap · market cap 4.87%
Second Best
Apartment 5plus
$1.64M
$1.43M – $1.91M
NOI $114,699 @ 7.0% cap · market cap 4.50%
Theoretical Best
Specialty Retail
$9.13M
$7.98M – $10.65M
NOI $638,764 @ 7.0% cap · market cap 25.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
5,378
Businesses Nearby
Explore this area
Business Placement
Demographics for 10031, NY
56,363
Population
24,110
Households
2.3
Avg Household Size
36
Median Age
41%
College-Educated
79%
High-School Grad
0.7 sq mi
ZIP Area
80,519
Density / Sq Mi
$65,067
Median Household Income
$41,149
Median Earnings
$1,787
Median Rent
$678,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Complete system updates support an owner’s duplex, two one-bedroom apartments, private gardens, and off-street parking.
Where is this triplex located?
The property is located at 481 W 145TH Street TH New York City, NY.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: Three‑family townhouse totaling 3,666 square feet; Owner’s duplex with full basement plus two one‑bedroom floor‑through apartments; Comprehensive renovation replaced plumbing, heating, and electrical systems
