Harlem Multifamily Investment
For Sale
$5,200,000
56 E 130th St, New York, NY 10037
Renovated 10-unit residential building in Central Harlem location.
Property Size7,230 SF
Lot Size0.06 Acres
Price / SF$719.23
Days on Market166
Property Features for 56 E 130th St
General Information
Standard status
Active
Size
7,230 SF
Lot size
0.06 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$55,968
Building Details
Building Size
7,230 SF
Year Built
1900
Stories
3
Units
4
Listing Agency:
Compass
(917) 518-9746
Listed By:
Christopher Halliburton
(917) 518-9746
Source:
Elliman
Added: Mar 10
Changed: Aug 17
Last Checked: Aug 21 at 10:22AM
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
Investment Insights
Based on property information with market context.
Located in Central Harlem, this four-story residential building presents a residential investment opportunity. The property contains 10 renovated free-market residential units, with layouts ranging from one-bedroom to two-bedroom configurations. Each unit is equipped with central air conditioning and in-unit laundry facilities. The building's dimensions are 25 feet by 60 feet, situated on a lot measuring 25 feet by 100 feet, with a total building square footage of 7,230. The electric utilities are separately metered for each unit. The property is located near various restaurants, bars, and shops, as well as Morningside and Marcus Garvey Parks, and offers convenient access to transportation options. This sale is also offered as a bundle in conjunction with two other Harlem residential buildings with free-market units, all with one blanket mortgage that can be assumed with the right buyer.
Key Highlights
- Desirable Central Harlem location near restaurants, shops, parks, and transportation.
- Ten renovated free‑market units (1‑2 bedrooms) offering immediate rental income potential.
- All units feature central air conditioning.
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
$226,207
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
4.35%
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%
$4,524,140
$4.5M
Cap Rate 7%
$3,231,529
$3.2M
Cap Rate 9%
$2,513,411
$2.5M
Market Conditions
NOI Build-Up for 7,230 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
$432.9K $59.88/SF
− Vacancy
−$21.6K −$2.99/SF
EGI
$411.3K $56.89/SF
− OpEx
−$185.1K −$25.60/SF
NOI
$226.2K $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%
$4,524,140
Cap Rate 7%
$3,231,529
Cap Rate 9%
$2,513,411
Alternative Uses
Best Use
Apartment 5plus
$3.23M
$2.83M – $3.77M
NOI $226,207 @ 7.0% cap · market cap 4.35%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$18.00M
$15.75M – $21.00M
NOI $1,259,755 @ 7.0% cap · market cap 24.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,266
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Renovated 10-unit residential building in Central Harlem location.
Where is this apartment building located?
The property is located at 56 E 130th St New York, NY.
What is the asking price?
The asking price for this property is $5,200,000.
What are key features of this property?
This property features: Desirable Central Harlem location near restaurants, shops, parks, and transportation.; Ten renovated free‑market units (1‑2 bedrooms) offering immediate rental income potential.; All units feature central air conditioning.
