Renovated Residential Income
For Sale
$240,000
36 W 138th Street 52, New York City, NY 10037
One-bedroom walk-up apartment with updated finishes, new appliances, and washer/dryer hookup in an HDFC cooperative building.
Property Size550 SF
Price / SF$436.36
Days on Market197
Property Features for 36 W 138th Street 52
General Information
Standard status
Active
Size
550 SF
Elevators
No
Property subtype
Apartment
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA
Multifamily Units
1
Additional Details
HOA Fee
$477.50
Building Details
Building Size
550 SF
Year Built
1900
Listing Agency:
Harlem Lofts Inc
(212) 280-8866
Listed By:
ROBERT D PAIR · License #31PA1003506
(212) 280-8866
Source:
Howardhannanyc
Added: Jan 26
Changed: Aug 9
Last Checked: Aug 10 at 9:36AM
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 Harlem Lofts Inc
Investment Insights
Based on property information with market context.
Apartment 14 is a renovated one-bedroom, one-bathroom walk-up residence within an HDFC cooperative building constructed in 1900. The 550-square-foot layout includes hardwood flooring, a tiled bathroom, and a kitchen outfitted with Caesarstone countertops and brand-new appliances. A washer/dryer hookup is also included. Income restrictions apply, and the purchase requires an all-cash transaction with proof of funds.
The property is near Harlem’s 125th Street commercial corridor, including Whole Foods, Trader Joe’s, Target, and Marshalls. The Schomburg Center for Research in Black Culture, Harlem YMCA, and Harlem Cycle Fitness Studio are within a short walk. Nearby transportation includes the 2/3 subway station at 135th Street and M1, M7, M98, and M102 bus service, with access to the Harlem River Drive and Madison Avenue Bridge.
The property is near Harlem’s 125th Street commercial corridor, including Whole Foods, Trader Joe’s, Target, and Marshalls. The Schomburg Center for Research in Black Culture, Harlem YMCA, and Harlem Cycle Fitness Studio are within a short walk. Nearby transportation includes the 2/3 subway station at 135th Street and M1, M7, M98, and M102 bus service, with access to the Harlem River Drive and Madison Avenue Bridge.
Key Highlights
- 550‑square‑foot one‑bedroom, one‑bathroom walk‑up apartment
- Renovated kitchen with Caesarstone countertops and brand‑new appliances
- Hardwood floors and tiled bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,208
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.17%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$344,160
$344.2K
Cap Rate 7%
$245,829
$245.8K
Cap Rate 9%
$191,200
$191.2K
Market Conditions
NOI Build-Up for 550 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$32.9K $59.88/SF
− Vacancy
−$1.6K −$2.99/SF
EGI
$31.3K $56.89/SF
− OpEx
−$14.1K −$25.60/SF
NOI
$17.2K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$344,160
Cap Rate 7%
$245,829
Cap Rate 9%
$191,200
Alternative Uses
Best Use
Apartment 5plus
$245.8K
$215.1K – $286.8K
NOI $17,208 @ 7.0% cap · market cap 7.17%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.37M
$1.20M – $1.60M
NOI $95,832 @ 7.0% cap · market cap 39.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
6,405
Businesses Nearby
Explore this area
Business Placement
Demographics for 10037, NY
19,670
Population
11,218
Households
1.8
Avg Household Size
39
Median Age
43%
College-Educated
86%
High-School Grad
0.2 sq mi
ZIP Area
98,350
Density / Sq Mi
$51,250
Median Household Income
$54,349
Median Earnings
$1,406
Median Rent
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - One-bedroom walk-up apartment with updated finishes, new appliances, and washer/dryer hookup in an HDFC cooperative building.
Where is this residential income property located?
The property is located at 36 W 138th Street 52 New York City, NY.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: 550‑square‑foot one‑bedroom, one‑bathroom walk‑up apartment; Renovated kitchen with Caesarstone countertops and brand‑new appliances; Hardwood floors and tiled bathroom
