Pre-War Studio
48 W 138th Street 3M, Manhattan, NY 10037
For Sale
$300,000
The corner residence pairs hardwood floors and stainless steel appliances with access to shared fitness and courtyard amenities.
Property Size357 SF
Price / SF$840.34
Days on Market25
Property Features for 48 W 138th Street 3M
General Information
Standard status
Size
Elevators
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Taxes and HOA fees
Annual Taxes
Amenities
pet-friendly
common courtyard
gym
hardwood floors
high ceilings
stainless steel appliances
Building Details
Building Size
Year Built
Listing Agency:
Compass
Listed By:
Matthew Pucker · License NY #10301208042
(917) 981-1107
Source:
Dallien
Added: Oct 16
Changed: Nov 9
Last Checked: Nov 8 at 7:25PM
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 Compass
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Investment Insights
Based on property information with market context.
Built in 1940, this 357-square-foot studio condominium occupies a corner position and features hardwood flooring, high ceilings, open views, and stainless steel appliances. The residence is in Saint Ann Court, a converted pre-war building with an elevator, gym, and shared courtyard; pets are permitted.
Key Highlights
- 357‑square‑foot corner studio condominium
- Built in 1940
- Hardwood floors, high ceilings, open views, and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,170
Cap Rate
3.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$223,400
$223.4K
Cap Rate 7%
$159,571
$159.6K
Cap Rate 9%
$124,111
$124.1K
Market Conditions
NOI Build-Up for 357 SF
Gross rent
$21.4K $59.88/SF
− Vacancy
−$1.1K −$2.99/SF
EGI
$20.3K $56.89/SF
− OpEx
−$9.1K −$25.60/SF
NOI
$11.2K $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%
$223,400
Cap Rate 7%
$159,571
Cap Rate 9%
$124,111
Alternative Uses
Best Use
Apartment 5plus
$159.6K
$139.6K – $186.2K
NOI $11,170 @ 7.0% cap · market cap 3.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$249.6K
$218.4K – $291.2K
NOI $17,471 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
6,405
Businesses Nearby
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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
$1,406
Median Rent
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Market
Average Price Trend$/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 corner residence pairs hardwood floors and stainless steel appliances with access to shared fitness and courtyard amenities.
Where is this residential income property located?
The property is located at 48 W 138th Street 3M Manhattan, NY.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 357‑square‑foot corner studio condominium; Built in 1940; Hardwood floors, high ceilings, open views, and stainless steel appliances
