8-Unit Apartment
For Sale
$2,300,000
220 W 122nd St, New York, NY 10027
Professionally managed apartment property with seven free-market units and a tax-class-protected status.
Property Size3,700 SF
Price / SF$606.54
Days on Market179
Property Features for 220 W 122nd St
General Information
Standard status
Active
Size
3,700 SF
Property subtype
Multifamily
Additional Details
Public Transit
Yes
Multifamily Units
8
Amenities
220 West 122nd Street, built in 1910, is an 8-unit multi-family property comprised of 2 studio apartments and 6 one-bedroom apartments, approx. 3,700 SF.
Tax Class: 2B (Protected) | Zoning: R7A | 88% Fair Market
220 West 122nd Street is well located in close proximity to the 125th Street Subway Station, Marcus Garvey Park, and Morningside Park.
Building Details
Building Size
3,700 SF
Units
8
Listing Agency:
New York City Office
Listed By:
Seth Glasser · License #License(s): NY: 10301209629
(212) 430-5136
Source:
Marcusmillichap
Added: Apr 22
Changed: Oct 11
Last Checked: Oct 16 at 5:43AM
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 New York City Office
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Investment Insights
Based on property information with market context.
The property at 220 W 122nd St is an 8-unit apartment building containing 3,792 square feet. The asset includes 7 free-market units and has been professionally managed by the same ownership for 7 years. The building is identified as tax-class protected and has been maintained during that ownership period.
The property sits between Frederick Douglass Boulevard and Adam Clayton Powell Jr. Boulevard in West Harlem. The 125th Street Subway Station, Marcus Garvey Park, and Morningside Park are nearby, providing access to public transportation and established neighborhood amenities.
The property sits between Frederick Douglass Boulevard and Adam Clayton Powell Jr. Boulevard in West Harlem. The 125th Street Subway Station, Marcus Garvey Park, and Morningside Park are nearby, providing access to public transportation and established neighborhood amenities.
Key Highlights
- 8‑unit apartment building with 3,792 square feet
- 7 free‑market units
- Professionally managed by the same ownership for 7 years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$118,641
Cap Rate
5.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,372,820
$2.4M
Cap Rate 7%
$1,694,871
$1.7M
Cap Rate 9%
$1,318,233
$1.3M
Market Conditions
NOI Build-Up for 3,792 SF
Gross rent
$227.1K $59.88/SF
− Vacancy
−$11.4K −$2.99/SF
EGI
$215.7K $56.89/SF
− OpEx
−$97.1K −$25.60/SF
NOI
$118.6K $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%
$2,372,820
Cap Rate 7%
$1,694,871
Cap Rate 9%
$1,318,233
Alternative Uses
Best Use
Apartment 5plus
$1.69M
$1.48M – $1.98M
NOI $118,641 @ 7.0% cap · market cap 5.16%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$9.44M
$8.26M – $11.01M
NOI $660,718 @ 7.0% cap · market cap 28.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
9,915
Businesses Nearby
Explore this area
Business Placement
Demographics for 10027, NY
64,037
Population
28,038
Households
2.3
Avg Household Size
32
Median Age
52%
College-Educated
87%
High-School Grad
0.9 sq mi
ZIP Area
71,152
Density / Sq Mi
$64,220
Median Household Income
$44,231
Median Earnings
$1,609
Median Rent
$915,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Professionally managed apartment property with seven free-market units and a tax-class-protected status.
Where is this apartment building located?
The property is located at 220 W 122nd St New York, NY.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 8‑unit apartment building with 3,792 square feet; 7 free‑market units; Professionally managed by the same ownership for 7 years
