Five-Story Triplex
For Sale
Contact for pricing
417 W 146th St, New York, NY 10031
Legal three-family townhouse with flexibility for continued income use or a potential single-family residence.
Property Size3,312 SF
Price / SF$543.48
Days on Market168
Property Features for 417 W 146th St
General Information
Standard status
Active
Size
3,312 SF
Property subtype
Multifamily
Additional Details
Multifamily Units
3
Building Details
Stories
5
Listing Agency:
SERHANT
Listed By:
Tay Tiwoni · License #NY
Source:
Crexi
Added: Mar 17
Changed: Aug 29
Last Checked: Aug 30 at 9:13PM
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.
This five-story townhouse is configured as a legal three-family residence, offering a distinct multifamily ownership structure within a single building. The property also presents the flexibility described for a live-plus-income arrangement or a potential conversion to single-family use.
Located at 417 W 146th St in Hamilton Heights, the residence is positioned in Manhattan’s culturally vibrant neighborhood. Its substantial townhouse format and three-family designation provide a clear basis for evaluating both continued multifamily use and an alternative residential configuration.
Located at 417 W 146th St in Hamilton Heights, the residence is positioned in Manhattan’s culturally vibrant neighborhood. Its substantial townhouse format and three-family designation provide a clear basis for evaluating both continued multifamily use and an alternative residential configuration.
Key Highlights
- Five‑story townhouse configuration
- Legal three‑family residence
- Potential live‑plus‑income use
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
$112,090
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
6.23%
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%
$2,241,800
$2.2M
Cap Rate 7%
$1,601,286
$1.6M
Cap Rate 9%
$1,245,444
$1.2M
Market Conditions
NOI Build-Up for 3,312 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
$168.9K $51.00/SF
− Vacancy
−$8.8K −$2.65/SF
EGI
$160.1K $48.35/SF
− OpEx
−$48.0K −$14.50/SF
NOI
$112.1K $33.84/SF
Area
New York, NY
Vacancy
5.20%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,241,800
Cap Rate 7%
$1,601,286
Cap Rate 9%
$1,245,444
Alternative Uses
Best Use
Multifamily LT 5
$1.60M
$1.40M – $1.87M
NOI $112,090 @ 7.0% cap · market cap 6.23%
Second Best
Apartment 5plus
$1.48M
$1.30M – $1.73M
NOI $103,624 @ 7.0% cap · market cap 5.76%
Theoretical Best
Specialty Retail
$8.24M
$7.21M – $9.62M
NOI $577,083 @ 7.0% cap · market cap 32.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
6,150
Businesses Nearby
Explore this area
Business Placement
Demographics for 10031, NY
56,363
Population
24,110
Households
2.3
Avg Household Size
36
Median Age
41%
College-Educated
79%
High-School Grad
0.7 sq mi
ZIP Area
80,519
Density / Sq Mi
$65,067
Median Household Income
$41,149
Median Earnings
$1,787
Median Rent
$678,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Legal three-family townhouse with flexibility for continued income use or a potential single-family residence.
Where is this triplex located?
The property is located at 417 W 146th St New York, NY.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Five‑story townhouse configuration; Legal three‑family residence; Potential live‑plus‑income use
