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Listing Courtesy of NYC Property Expo, Inc.
$ 4,200,000
Est. payment /mo
New
10 W 122nd Street Manhattan, NY 10027
5,598 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,598 sqft
Price per Sqft $750
Subdivision Mt. Morris Park
MLS Listing ID RLS20040299
Style Prewar,Walk-Up
HOA Y/N No
Year Built 1899
Annual Tax Amount $15,962
Property Sub-Type Multi Family
Property Description
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 has 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)
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 has 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)
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
Location
State NY
County New York
Interior
Heating Electric
Cooling Wall Unit(s)
Fireplace No
Laundry Common Area
Exterior
Exterior Feature Building Storage, Building Roof Deck, Private Outdoor Space Under 60 Sqft
View Y/N Yes
View City
Porch Patio
Private Pool No
Building
Story 3
New Construction No
Others
Pets Allowed Pets Allowed
Ownership None
Monthly Total Fees $1, 330
Pets Allowed Building Yes, Yes
RLS Data display by Elegran