Vacant Triplex
New
For Sale
$2,450,000
80 W 119TH Street, New York City, NY 10026
Legal three-family configuration with available plans for conversion to a two-family residence.
Property Size3,328 SF
Days on Market5
Property Features for 80 W 119TH Street
General Information
Standard status
Active
Size
3,328 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,644
Amenities
garden level
exposed brick
original ceiling timbers
large backyard
Building Details
Building Size
3,328 SF
Year Built
1909
Buildings
1
Listing Agency:
Serhant
Listed By:
Stanley P Montfort
(908) 414-6006
Source:
Serhant
Added: Sep 18
Changed: Sep 21
Last Checked: Sep 21 at 9:12AM
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.
Built in 1909, this vacant Harlem townhouse is arranged as a legal three-family residence across four floors with a finished basement. The property includes a renovated garden level, updated plumbing and electrical systems, approximately 10-foot parlor ceilings, exposed brick, original ceiling timbers, and a substantial south-facing backyard. Conversion plans are available for a two-family layout, offering flexibility for a future owner-occupant arrangement.
The property is located within the landmarked Mount Morris Park Historic District, approximately half a block from Marcus Garvey Park. Dining, shopping, cultural destinations, and transportation options are nearby, including Red Rooster, Barawine, Settepani, Sottocasa, Sylvia's, and Harlem's Restaurant Row. Central Park and Fifth Avenue are also within walking distance. Walk Score is 98, Transit Score is 100, and bikeScore is 81.
The property is located within the landmarked Mount Morris Park Historic District, approximately half a block from Marcus Garvey Park. Dining, shopping, cultural destinations, and transportation options are nearby, including Red Rooster, Barawine, Settepani, Sottocasa, Sylvia's, and Harlem's Restaurant Row. Central Park and Fifth Avenue are also within walking distance. Walk Score is 98, Transit Score is 100, and bikeScore is 81.
Key Highlights
- Legal three‑family residence delivered vacant
- Four floors plus a finished basement
- Conversion plans available for a two‑family layout
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
$112,632
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
4.60%
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%
$2,252,640
$2.3M
Cap Rate 7%
$1,609,029
$1.6M
Cap Rate 9%
$1,251,467
$1.3M
Market Conditions
NOI Build-Up for 3,328 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
$169.7K $51.00/SF
− Vacancy
−$8.8K −$2.65/SF
EGI
$160.9K $48.35/SF
− OpEx
−$48.3K −$14.50/SF
NOI
$112.6K $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%
$2,252,640
Cap Rate 7%
$1,609,029
Cap Rate 9%
$1,251,467
Alternative Uses
Best Use
Multifamily LT 5
$1.61M
$1.41M – $1.88M
NOI $112,632 @ 7.0% cap · market cap 4.60%
Second Best
Apartment 5plus
$1.49M
$1.30M – $1.74M
NOI $104,124 @ 7.0% cap · market cap 4.25%
Theoretical Best
Specialty Retail
$8.28M
$7.25M – $9.66M
NOI $579,871 @ 7.0% cap · market cap 23.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
8,671
Businesses Nearby
Explore this area
Business Placement
Demographics for 10026, NY
35,644
Population
17,648
Households
2
Avg Household Size
37
Median Age
54%
College-Educated
90%
High-School Grad
0.4 sq mi
ZIP Area
89,110
Density / Sq Mi
$74,140
Median Household Income
$56,919
Median Earnings
$1,546
Median Rent
$1,014,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Legal three-family configuration with available plans for conversion to a two-family residence.
Where is this triplex located?
The property is located at 80 W 119TH Street New York City, NY.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: Legal three‑family residence delivered vacant; Four floors plus a finished basement; Conversion plans available for a two‑family layout
