Two-Bedroom Residential Income
3 W 122nd Street 5-C, Manhattan, NY 10027
For Sale
$899,000
The apartment has two bedrooms, a windowed bathroom, and a kitchen with granite countertops and new appliances.
Property Size900 SF
Price / SF$998.89
Days on Market112
Property Features for 3 W 122nd Street 5-C
General Information
Standard status
Size
Elevators
Property subtype
Site & Location
Highway Access
Public Transit
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Nest Seekers LLC
Listed By:
Ah Young Mondry
(917) 370-0394
Source:
Decodenyc
Added: Jul 21
Changed: Nov 4
Last Checked: Nov 9 at 8:02AM
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 Nest Seekers LLC
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Investment Insights
Based on property information with market context.
This 900-square-foot apartment is in a 24-unit prewar elevator building completed in 1900. Its two bedrooms each have a closet, and the living and dining room spans 25 feet. The kitchen has granite countertops and new appliances. The windowed bathroom is undergoing renovation, with two sinks planned. The apartment faces north toward a backyard; listing photos are virtually staged, and the bathroom image depicts a virtual renovation.
The property is in the Mt. Morris Park Historic District, a short walk from Mt. Morris Park and the Pelham Fritz Recreation Center. Central Park is a 15-minute walk away. The 2 and 3 trains are three blocks away at 125th Street and Lenox Avenue; the 4, 5, and 6 trains are five blocks away at 125th Street and Lexington Avenue. Metro-North at 125th Street is four blocks away, and the FDR Drive and West Side Highway are five minutes away.
The property is in the Mt. Morris Park Historic District, a short walk from Mt. Morris Park and the Pelham Fritz Recreation Center. Central Park is a 15-minute walk away. The 2 and 3 trains are three blocks away at 125th Street and Lenox Avenue; the 4, 5, and 6 trains are five blocks away at 125th Street and Lexington Avenue. Metro-North at 125th Street is four blocks away, and the FDR Drive and West Side Highway are five minutes away.
Key Highlights
- 900‑square‑foot apartment in a 24‑unit prewar elevator building
- Two bedrooms, each with a closet
- 25‑foot‑wide living and dining room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,159
Cap Rate
3.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$563,180
$563.2K
Cap Rate 7%
$402,271
$402.3K
Cap Rate 9%
$312,878
$312.9K
Market Conditions
NOI Build-Up for 900 SF
Gross rent
$53.9K $59.88/SF
− Vacancy
−$2.7K −$2.99/SF
EGI
$51.2K $56.89/SF
− OpEx
−$23.0K −$25.60/SF
NOI
$28.2K $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%
$563,180
Cap Rate 7%
$402,271
Cap Rate 9%
$312,878
Alternative Uses
Best Use
Apartment 5plus
$402.3K
$352.0K – $469.3K
NOI $28,159 @ 7.0% cap · market cap 3.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$629.2K
$550.6K – $734.1K
NOI $44,045 @ 7.0% cap · market cap 4.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
9,401
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
$915,000
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in Manhattan, NY
Properties on Market for Residential income properties in Manhattan
Frequently Asked Questions
What type of property is this?
Residential income property - The apartment has two bedrooms, a windowed bathroom, and a kitchen with granite countertops and new appliances.
Where is this residential income property located?
The property is located at 3 W 122nd Street 5-C Manhattan, NY.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 900‑square‑foot apartment in a 24‑unit prewar elevator building; Two bedrooms, each with a closet; 25‑foot‑wide living and dining room
