Harlem Multifamily Investment
2064 5th Ave, New York, NY 10035
For Sale
$4,800,000
Renovated 9-unit building in Central Harlem near transportation.
Property Size9,221 SF
Lot Size0.06 Acres
Price / SF$520.55
Days on Market245
Property Features for 2064 5th Ave
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Compass
Listed By:
Christopher Halliburton
(917) 518-9746
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Nov 8 at 5:22AM
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 Compass
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Investment Insights
Based on property information with market context.
Located in Central Harlem on Fifth Avenue and 127th Street, this 4-story residential building presents a residential investment opportunity. The property is situated near restaurants, bars, shops, Morningside and Marcus Garvey Parks, and transportation options. The building contains 9 renovated free-market residential units, ranging from 1-bed to 4-bed layouts. Several units feature private outdoor spaces. The building also includes a common roof deck and private storage. All units have central air and in-unit laundry. The building's dimensions are 25 ft x 98 ft, situated on a 25 ft x 100 ft lot, with a total building square footage of 9,221. The electric is separately metered for all units. This sale is also being offered as a bundle in conjunction with two other Harlem residential buildings with free-market units, all with one blanket mortgage that can be assumed with the right buyer.
Key Highlights
- Desirable Central Harlem location on Fifth Avenue near retail, parks, and transportation.
- Nine renovated, free‑market residential units offering immediate rental income.
- Units feature central air and in‑unit laundry.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$288,500
Cap Rate
6.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,770,000
$5.8M
Cap Rate 7%
$4,121,429
$4.1M
Cap Rate 9%
$3,205,556
$3.2M
Market Conditions
NOI Build-Up for 9,221 SF
Gross rent
$552.2K $59.88/SF
− Vacancy
−$27.6K −$2.99/SF
EGI
$524.5K $56.89/SF
− OpEx
−$236.0K −$25.60/SF
NOI
$288.5K $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%
$5,770,000
Cap Rate 7%
$4,121,429
Cap Rate 9%
$3,205,556
Alternative Uses
Best Use
Apartment 5plus
$4.12M
$3.61M – $4.81M
NOI $288,500 @ 7.0% cap · market cap 6.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.45M
$5.64M – $7.52M
NOI $451,262 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
7,755
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Apartment buildings in New York
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated 9-unit building in Central Harlem near transportation.
Where is this apartment building located?
The property is located at 2064 5th Ave New York, NY.
What is the asking price?
The asking price for this property is $4,800,000.
What are key features of this property?
This property features: Desirable Central Harlem location on Fifth Avenue near retail, parks, and transportation.; Nine renovated, free‑market residential units offering immediate rental income.; Units feature central air and in‑unit laundry.
