Four-Unit Multi-Level
For Sale
$1,699,000
175 E 117th Street New York, Manhattan, NY 10035
Residential Income, New York (Manhattan), NY
Property Size3,870 SF
Lot Size0.04 Acres
Price / SF$439.02
Days on Market49
Property Features for 175 E 117th Street New York
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
9
Bathrooms
7
Full bathrooms
7
Rooms
Basement, Bathroom 7, Bedroom 2, Bedroom 1, Bathroom 6, Bedroom 7, Bedroom 8, Bedroom 4, Bathroom 3, Bathroom 4, Bathroom 5, Bathroom 2, Bedroom 9, Bedroom 5, Bedroom 6, Bedroom 3, Bathroom 1
Parking features
Offsite
Interior features
First Floor Full Bath
Basement
Full, Walk-Out Access
Elementary school
Ps 7 Samuel Stern
Middle school
Call Listing Agent
High school
Contact Agent
Elementary school district
Manhattan 4
Middle school district
Contact Agent
High school district
Contact Agent
Standard status
Active
APN
1645-0029
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6027
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Oil
Water source
Public
Building Details
Year built
1900
Number of units
4
Building materials
Stone
Architectural style
Contemporary
Listing Agency:
Mitra Hakimi Realty Group LLC
Listed By:
Etan Hakimi · License #1014541
(718) 268-5588
Added: Jul 28
Changed: Sep 13
Last Checked: Sep 14 at 12:06AM
MLS# 1031769
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This four-family property at 175 E 117th Street contains approximately 3,870 square feet across four floors plus a full basement. The first-floor apartment offers a living room, kitchen, multiple flexible-use rooms, two full bathrooms, and storage. The second-floor unit includes living and dining areas, a kitchen, office, two bedrooms, and one full bathroom. Third- and fourth-floor apartments each provide three bedrooms, a living room, dining area, kitchen, and full bathroom. The structure was built in 1900 with stone construction, oil heat, public water, and public sewer.
The property is located in East Harlem near Thomas Jefferson Park, the Harlem River Greenway, the Museum of the City of New York, Lexington Avenue dining, and neighborhood retail and services. Transit access includes the 6 train at 116th Street, nearby 2 and 3 train service, and MTA bus routes M101, M102, M103, M15, and M116.
The lot measures 0.044 acres and carries R7A zoning with a 4.0 FAR and approximately 7,668 buildable square feet. Offsite parking is listed among the property features.
The property is located in East Harlem near Thomas Jefferson Park, the Harlem River Greenway, the Museum of the City of New York, Lexington Avenue dining, and neighborhood retail and services. Transit access includes the 6 train at 116th Street, nearby 2 and 3 train service, and MTA bus routes M101, M102, M103, M15, and M116.
The lot measures 0.044 acres and carries R7A zoning with a 4.0 FAR and approximately 7,668 buildable square feet. Offsite parking is listed among the property features.
Key Highlights
- Four‑family building with four apartments across four floors plus a full basement
- Approximately 3,870 square feet on a 0.044‑acre lot
- R7A zoning with 4.0 FAR and approximately 7,668 buildable square feet
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
$130,975
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
7.71%
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%
$2,619,500
$2.6M
Cap Rate 7%
$1,871,071
$1.9M
Cap Rate 9%
$1,455,278
$1.5M
Market Conditions
NOI Build-Up for 3,870 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
$197.4K $51.00/SF
− Vacancy
−$10.3K −$2.65/SF
EGI
$187.1K $48.35/SF
− OpEx
−$56.1K −$14.50/SF
NOI
$131.0K $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%
$2,619,500
Cap Rate 7%
$1,871,071
Cap Rate 9%
$1,455,278
Alternative Uses
Best Use
Multifamily LT 5
$1.87M
$1.64M – $2.18M
NOI $130,975 @ 7.0% cap · market cap 7.71%
Second Best
Apartment 5plus
$1.73M
$1.51M – $2.02M
NOI $121,082 @ 7.0% cap · market cap 7.13%
Theoretical Best
Specialty Retail
$9.63M
$8.43M – $11.24M
NOI $674,309 @ 7.0% cap · market cap 39.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
7,943
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
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?
Quadplex - Four apartments span four floors, with a full basement and adaptable room layouts in East Harlem.
Where is this quadplex located?
The property is located at 175 E 117th Street New York Manhattan, NY.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Four‑family building with four apartments across four floors plus a full basement; Approximately 3,870 square feet on a 0.044‑acre lot; R7A zoning with 4.0 FAR and approximately 7,668 buildable square feet
