Historic Five-Unit
For Sale
$1,850,000
309 W 138TH Street, New York City, NY 10030
Historic five-unit Neoclassical townhouse built in 1888 with original architectural features and decorative fireplaces.
Property Size2,800 SF
Price / SF$660.71
Days on Market163
Property Features for 309 W 138TH Street
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$7,212
Building Details
Building Size
2,800 SF
Year Built
1888
Listing Agency:
Serhant
Listed By:
Bruce A Mishell
(212) 714-0717
Source:
Miradorrealestate
Added: May 1
Changed: Oct 5
Last Checked: Oct 10 at 12:55AM
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 Serhant
Investment Insights
Based on property information with market context.
309 W 138th St is a historic five-unit Neoclassical townhouse built in 1888. The property features Renaissance-inspired craftsmanship throughout, including hand-carved wood stairways, original doors, ornate moldings, and original fireplaces. While the fireplaces are currently decorative, they offer an opportunity for restoration and personalization. The property can be delivered vacant and is available by appointment.
The home is directly adjacent to the Strivers Row historic district. It is located near multiple subway lines, with nearby A, B, C, and D service, and within a short walk of dining and entertainment options.
Shown by appointment.
The home is directly adjacent to the Strivers Row historic district. It is located near multiple subway lines, with nearby A, B, C, and D service, and within a short walk of dining and entertainment options.
Shown by appointment.
Key Highlights
- Historic five‑unit Neoclassical townhouse built in 1888 at 309 W 138th Street
- Original architectural details include hand‑carved wood stairways, original doors, ornate moldings, and original fireplaces
- Fireplaces are currently decorative and may offer restoration or personalization potential
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$87,604
Cap Rate
4.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,752,080
$1.8M
Cap Rate 7%
$1,251,486
$1.3M
Cap Rate 9%
$973,378
$973.4K
Market Conditions
NOI Build-Up for 2,800 SF
Gross rent
$167.7K $59.88/SF
− Vacancy
−$8.4K −$2.99/SF
EGI
$159.3K $56.89/SF
− OpEx
−$71.7K −$25.60/SF
NOI
$87.6K $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%
$1,752,080
Cap Rate 7%
$1,251,486
Cap Rate 9%
$973,378
Alternative Uses
Best Use
Apartment 5plus
$1.25M
$1.10M – $1.46M
NOI $87,604 @ 7.0% cap · market cap 4.74%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.97M
$6.10M – $8.13M
NOI $487,872 @ 7.0% cap · market cap 26.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
7,019
Businesses Nearby
Explore this area
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
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Historic five-unit Neoclassical townhouse built in 1888 with original architectural features and decorative fireplaces.
Where is this apartment building located?
The property is located at 309 W 138TH Street New York City, NY.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Historic five‑unit Neoclassical townhouse built in 1888 at 309 W 138th Street; Original architectural details include hand‑carved wood stairways, original doors, ornate moldings, and original fireplaces; Fireplaces are currently decorative and may offer restoration or personalization potential
