Residential Income Property with Roof
520 E 81ST Street 9B, New York City, NY 10028
For Sale
$475,000
Unit features abundant daylight, three oversized closets, and recently installed wood flooring.
Property Size465 SF
Price / SF$1,021
Days on Market50
Property Features for 520 E 81ST Street 9B
General Information
Standard status
Size
Property subtype
Additional Details
Public Transit
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
24 hour doorman
landscaped roof deck
pet friendly
live-in superintendent
central laundry room
on-site garage
Building Details
Building Size
Year Built
Stories
Listing Agency:
Corcoran Group
Listed By:
Loren Arethas
(917) 575-1519
Source:
Lenasimpson
Added: Sep 21
Changed: Nov 5
Last Checked: Nov 8 at 3:23PM
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 Corcoran Group
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Investment Insights
Based on property information with market context.
Unit 9B is a 465-square-foot residential income property in a 12-story condominium completed in 1960. The apartment receives natural light throughout the day and includes three large closets plus new wood floors. Its current layout can be reconfigured as a junior one-bedroom, offering an additional residential configuration for the space.
Building amenities include a 24-hour doorman, live-in superintendent, central laundry room, landscaped roof deck with city and river views, and an on-site garage. The pet-friendly condominium sits on a tree-lined block near the Q train entrance on 83rd Street, Carl Schurz Park, and the East River Promenade.
Building amenities include a 24-hour doorman, live-in superintendent, central laundry room, landscaped roof deck with city and river views, and an on-site garage. The pet-friendly condominium sits on a tree-lined block near the Q train entrance on 83rd Street, Carl Schurz Park, and the East River Promenade.
Key Highlights
- 465‑square‑foot Unit 9B in a 12‑story condominium
- Layout can be converted into a junior one‑bedroom
- Three large closets and new wood floors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,549
Cap Rate
3.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$290,980
$291.0K
Cap Rate 7%
$207,843
$207.8K
Cap Rate 9%
$161,656
$161.7K
Market Conditions
NOI Build-Up for 465 SF
Gross rent
$27.8K $59.88/SF
− Vacancy
−$1.4K −$2.99/SF
EGI
$26.5K $56.89/SF
− OpEx
−$11.9K −$25.60/SF
NOI
$14.5K $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%
$290,980
Cap Rate 7%
$207,843
Cap Rate 9%
$161,656
Alternative Uses
Best Use
Apartment 5plus
$207.8K
$181.9K – $242.5K
NOI $14,549 @ 7.0% cap · market cap 3.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$325.1K
$284.5K – $379.3K
NOI $22,756 @ 7.0% cap · market cap 4.79%
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
17,418
Businesses Nearby
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Business Placement
Demographics for 10028, NY
48,116
Population
29,535
Households
1.6
Avg Household Size
39
Median Age
83%
College-Educated
98%
High-School Grad
0.3 sq mi
ZIP Area
160,387
Density / Sq Mi
$168,125
Median Household Income
$116,860
Median Earnings
$2,702
Median Rent
$1,600,400
Median Home Value
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Market
Average Price Trend$/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 - Unit features abundant daylight, three oversized closets, and recently installed wood flooring.
Where is this residential income property located?
The property is located at 520 E 81ST Street 9B New York City, NY.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 465‑square‑foot Unit 9B in a 12‑story condominium; Layout can be converted into a junior one‑bedroom; Three large closets and new wood floors
