Log In/Sign Up
Your email has been sent.
10 W 122nd St 8 Unit Apartment Building $5,665,506 CAD ($708,188 CAD/Unit) 5.17% Cap Rate New York, NY 10027
Investment Highlights
- Strong In-Place Yield with free-market units: No rent-stabilized exposure and Immediate upside with expiring rent concessions.
- Efficient Building Size: 8 Units, all free market. Ability to self-manage or add to an existing portfolio. Walk-up — lower maintenance and insurance.
- Prime Central Harlem Location. Located on a quiet, tree-lined block in the Mount Morris Park Historic District.
- Fully Renovated 8-Unit Free-Market Multifamily in Prime Central Harlem.
Executive Summary
Fully Renovated 8-Unit Free-Market Multifamily in Prime Central Harlem
10 West 122nd Street is a stabilized, fully leased 8-unit multifamily building located on a quiet block in the Mount Morris Park Historic District. The building offers turnkey cash flow with near-term upside as rent concessions expire, all in one of Manhattan’s fastest-growing neighborhoods.
The property spans approximately 5,598 square feet across 3 stories plus an extension, featuring eight fully renovated apartments. All units are free-market and outfitted with modern finishes, hardwood flooring, and tenant-controlled split HVAC systems. Shared amenities include a furnished roof deck and on-site laundry room.
The current rent roll totals approximately $26,476/month ($317,715 annually), producing a T-12 NOI of $217,172.89. At the $4.2 million asking price, this yields a 5.17% cap rate with additional upside once concessions roll off. A pro forma cap rate of ~5.7% is projected within the first 12–18 months, supported by market rent growth in Central Harlem.
Located right by Marcus Garvey Park, the building is close to the 2/3 and 4/5/6 subway lines, Metro-North, Columbia University, and the 125th Street commercial corridor. The property is surrounded by a mix of culture, restaurants, retail, and green space—making it highly desirable for tenants and investors alike.
This is an excellent opportunity for 1031 exchange buyers, long-term investors, and portfolio operators seeking a well-maintained asset with strong in-place income and predictable appreciation.
Highlights:
8 Fully Leased, Free-Market Units
T-12 NOI: $217,172.89
Asking Price: $4,200,000
Cap Rate (In-Place): 5.17%
Gross Rent: $317,715/year
Shared Laundry and Furnished Roof Deck
Split HVAC (Tenant-Controlled Heating/Cooling)
5,598 SF Building on 22’ × 100.92’ Lot (R7-2 Zoning)
Taxes (2025–26): $16,461
No Rent-Stabilized Exposure
Located in Mount Morris Park Historic District
Near Subway, Metro-North, Columbia University, and 125th St Retail
10 West 122nd Street is a stabilized, fully leased 8-unit multifamily building located on a quiet block in the Mount Morris Park Historic District. The building offers turnkey cash flow with near-term upside as rent concessions expire, all in one of Manhattan’s fastest-growing neighborhoods.
The property spans approximately 5,598 square feet across 3 stories plus an extension, featuring eight fully renovated apartments. All units are free-market and outfitted with modern finishes, hardwood flooring, and tenant-controlled split HVAC systems. Shared amenities include a furnished roof deck and on-site laundry room.
The current rent roll totals approximately $26,476/month ($317,715 annually), producing a T-12 NOI of $217,172.89. At the $4.2 million asking price, this yields a 5.17% cap rate with additional upside once concessions roll off. A pro forma cap rate of ~5.7% is projected within the first 12–18 months, supported by market rent growth in Central Harlem.
Located right by Marcus Garvey Park, the building is close to the 2/3 and 4/5/6 subway lines, Metro-North, Columbia University, and the 125th Street commercial corridor. The property is surrounded by a mix of culture, restaurants, retail, and green space—making it highly desirable for tenants and investors alike.
This is an excellent opportunity for 1031 exchange buyers, long-term investors, and portfolio operators seeking a well-maintained asset with strong in-place income and predictable appreciation.
Highlights:
8 Fully Leased, Free-Market Units
T-12 NOI: $217,172.89
Asking Price: $4,200,000
Cap Rate (In-Place): 5.17%
Gross Rent: $317,715/year
Shared Laundry and Furnished Roof Deck
Split HVAC (Tenant-Controlled Heating/Cooling)
5,598 SF Building on 22’ × 100.92’ Lot (R7-2 Zoning)
Taxes (2025–26): $16,461
No Rent-Stabilized Exposure
Located in Mount Morris Park Historic District
Near Subway, Metro-North, Columbia University, and 125th St Retail
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2024) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $5,665,506 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $708,188 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.05 AC |
| Cap Rate | 5.17% | Building Size | 5,598 SF |
| Gross Rent Multiplier | 13.22 | Average Occupancy | 0% |
| No. Units | 8 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1899/2017 |
| Property Subtype | Apartment | ||
| Zoning | R7-2 - R7 districts are medium-density apartment house districts. | ||
| Price | $5,665,506 CAD |
| Price Per Unit | $708,188 CAD |
| Sale Type | Investment |
| Cap Rate | 5.17% |
| Gross Rent Multiplier | 13.22 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.05 AC |
| Building Size | 5,598 SF |
| Average Occupancy | 0% |
| No. Stories | 3 |
| Year Built/Renovated | 1899/2017 |
| Zoning | R7-2 - R7 districts are medium-density apartment house districts. |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Kitchen
- Oven
- Freezer
- Intercom
Site Amenities
- Laundry Facilities
- Video Patrol
- Storage Space
- Sundeck
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 1 | $4,485 CAD | 1 |
| 2+1 | 5 | $5,092 CAD | 1 |
| 1+1 | 2 | $4,560 CAD | 1 |
1 1
Walk Score®
Walker's Paradise (98)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (80)
Property Taxes
| Parcel Number | 1720-0062 | Total Assessment | $180,875 CAD (2025) |
| Land Assessment | $44,004 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $136,871 CAD (2025) | Tax Year | 2024 Payable 2025 |
Property Taxes
Parcel Number
1720-0062
Land Assessment
$44,004 CAD (2025)
Improvements Assessment
$136,871 CAD (2025)
Total Assessment
$180,875 CAD (2025)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024 Payable 2025
1 of 28
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
NYC Property Expo, Inc.
10 W 122nd St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.