Residential Income Property with Park
371 MORNINGSIDE Avenue 4A, New York City, NY 10027
For Sale
$1,350,000
Pending
Three-bedroom residence with a custom kitchen, two bathrooms, and separated sleeping quarters.
Property Size1,415 SF
Days on Market165
Property Features for 371 MORNINGSIDE Avenue 4A
General Information
Standard status
Size
Property subtype
Additional Details
Public Transit
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
attended lobby
fitness center
bike storage
sun deck
Building Details
Building Size
Year Built
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Sahar Ziv · License NY SL3599882
(646) 467-4694
Source:
Bondnyre
Added: May 29
Changed: Oct 31
Last Checked: Nov 8 at 1:03PM
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 Douglas Elliman Real Estate
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Investment Insights
Based on property information with market context.
This 1,415-square-foot residential income property, completed in 2020, contains a three-bedroom condominium residence with an expansive great room, two south-facing windows, and a separate kitchen. The primary suite includes a walk-in closet, while two additional bedrooms are positioned apart from the main living area. Kitchen improvements include Italian oak cabinetry, quartzite and quartz surfaces, Bosch appliances, a gas range, and a microwave. The residence also has two bathrooms with marble, porcelain, and glass tile finishes.
The condominium building includes 23 residences and is positioned across from Morningside Park in Harlem. Building amenities include an attended lobby, fitness center, bike storage, and furnished sun deck. The property is described as being near express subway service and Frederick Douglass Boulevard, with a 15-year 421a tax abatement.
The condominium building includes 23 residences and is positioned across from Morningside Park in Harlem. Building amenities include an attended lobby, fitness center, bike storage, and furnished sun deck. The property is described as being near express subway service and Frederick Douglass Boulevard, with a 15-year 421a tax abatement.
Key Highlights
- 1,415 SF three‑bedroom condominium residence
- Park‑facing position with two oversized south‑facing windows
- Primary suite with walk‑in closet and two additional bedrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,272
Cap Rate
3.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$885,440
$885.4K
Cap Rate 7%
$632,457
$632.5K
Cap Rate 9%
$491,911
$491.9K
Market Conditions
NOI Build-Up for 1,415 SF
Gross rent
$84.7K $59.88/SF
− Vacancy
−$4.2K −$2.99/SF
EGI
$80.5K $56.89/SF
− OpEx
−$36.2K −$25.60/SF
NOI
$44.3K $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%
$885,440
Cap Rate 7%
$632,457
Cap Rate 9%
$491,911
Alternative Uses
Best Use
Apartment 5plus
$632.5K
$553.4K – $737.9K
NOI $44,272 @ 7.0% cap · market cap 3.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$989.3K
$865.6K – $1.15M
NOI $69,248 @ 7.0% cap · market cap 5.13%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
8,417
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 New York City, NY
Properties on Market for Residential income properties in New York City
Frequently Asked Questions
What type of property is this?
Residential income property - Three-bedroom residence with a custom kitchen, two bathrooms, and separated sleeping quarters.
Where is this residential income property located?
The property is located at 371 MORNINGSIDE Avenue 4A New York City, NY.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 1,415 SF three‑bedroom condominium residence; Park‑facing position with two oversized south‑facing windows; Primary suite with walk‑in closet and two additional bedrooms
