Renovated Residential Income
261 W 137th Street 3, Manhattan, NY 10030
For Sale
$1,495,000
Pending
Three-bedroom duplex condominium with updated interiors, generous living space, and a flexible bedroom or office on the main level.
Property Size1,968 SF
Days on Market60
Property Features for 261 W 137th Street 3
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Taxes and HOA fees
Annual Taxes
Amenities
in-unit washer/dryer
high ceilings
hardwood floors
Pella insulated double-pane windows
Mitsubishi ductless heating and cooling
Building Details
Building Size
Year Built
Listing Agency:
Compass
Listed By:
Josue Galdos
(917) 319-2990
Source:
Miradorrealestate
Added: Sep 11
Changed: Nov 5
Last Checked: Nov 8 at 1:59PM
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.
Residence 3 is a renovated duplex condominium within a three-unit building, offering 1,968 square feet across the top two floors. The main level combines living and dining areas with an updated kitchen equipped with quartz countertops, stainless-steel appliances, and extensive cabinetry. One bedroom and a powder room are also located on this floor. Two additional bedrooms and two full bathrooms occupy the upper level, including a primary suite with a private bath and a separate nook. An in-unit washer and dryer is positioned upstairs.
Interior features include high ceilings, hardwood flooring, Pella insulated double-pane windows, and Mitsubishi ductless heating and cooling. The property is at 261 W 137th Street in Central Harlem, near the 2 and 3 trains at West 135th Street and Lenox Avenue and the B and C trains at West 135th Street and St. Nicholas Avenue. Citi Bike stations, supermarkets, restaurants, and cafes are also nearby. The building was constructed in 1910.
Interior features include high ceilings, hardwood flooring, Pella insulated double-pane windows, and Mitsubishi ductless heating and cooling. The property is at 261 W 137th Street in Central Harlem, near the 2 and 3 trains at West 135th Street and Lenox Avenue and the B and C trains at West 135th Street and St. Nicholas Avenue. Citi Bike stations, supermarkets, restaurants, and cafes are also nearby. The building was constructed in 1910.
Key Highlights
- 1,968 SF duplex residence spanning the top two floors of a three‑unit condominium
- Three bedrooms and 2.5 bathrooms, including a primary bedroom with en suite bath
- Renovated kitchen with quartz countertops, stainless‑steel appliances, and ample cabinetry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,573
Cap Rate
4.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,231,460
$1.2M
Cap Rate 7%
$879,614
$879.6K
Cap Rate 9%
$684,144
$684.1K
Market Conditions
NOI Build-Up for 1,968 SF
Gross rent
$117.8K $59.88/SF
− Vacancy
−$5.9K −$2.99/SF
EGI
$112.0K $56.89/SF
− OpEx
−$50.4K −$25.60/SF
NOI
$61.6K $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%
$1,231,460
Cap Rate 7%
$879,614
Cap Rate 9%
$684,144
Alternative Uses
Best Use
Apartment 5plus
$879.6K
$769.7K – $1.03M
NOI $61,573 @ 7.0% cap · market cap 4.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.38M
$1.20M – $1.61M
NOI $96,311 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
7,019
Businesses Nearby
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Business Placement
Demographics for 10030, NY
29,686
Population
14,602
Households
2
Avg Household Size
36
Median Age
35%
College-Educated
78%
High-School Grad
0.3 sq mi
ZIP Area
98,953
Density / Sq Mi
$42,738
Median Household Income
$37,388
Median Earnings
$1,204
Median Rent
$810,100
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Manhattan, NY
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Frequently Asked Questions
What type of property is this?
Residential income property - Three-bedroom duplex condominium with updated interiors, generous living space, and a flexible bedroom or office on the main level.
Where is this residential income property located?
The property is located at 261 W 137th Street 3 Manhattan, NY.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 1,968 SF duplex residence spanning the top two floors of a three‑unit condominium; Three bedrooms and 2.5 bathrooms, including a primary bedroom with en suite bath; Renovated kitchen with quartz countertops, stainless‑steel appliances, and ample cabinetry
