334 E 106th St 6 Unit Apartment Building $3,999,000 ($666,500/Unit) 5.38% Cap Rate New York, NY 10029

GREAT INVESTMENT OPPORTUNITY – BELOW MARKET VALUE WITH SIGNIFICANT RENTAL UPSIDE! MAKE IT YOURS TODAY
Mixed-Use Property in One of NYC’s Most Culturally Vibrant & Rapidly Growing Neighborhoods
Unlock the full potential of East Harlem with this fully occupied, income-generating 4-story mixed-use property, strategically positioned in one of Manhattan’s most exciting growth corridors. Located just minutes from Central Park, Yorkville, and major transit lines, this 1920-built asset blends timeless character with substantial income growth potential.
Property Overview
Address: 334 E. 106th St, New York, NY
Total Size: 5,092 sq. ft.
Lot Size: 2,523 sq. ft.
Zoning: R7A with additional air rights for future development
Configuration:
Ground-floor commercial retail (currently a barbershop and candy store)
Six (6) 2-bedroom, 1-bath residential units above
Occupancy: 100% – immediate, stable cash flow
Why 334 E. 106th St is a Smart Investment
Clear Rental Upside – Below Market Rents
Current residential rents are in the low $2,000s per unit
Comparable 2-bedroom units in the area are achieving approximately $3,100 – $4,500/month move-in ready [I just pulled Feb 2026 2-br comps]
This creates a substantial gap between in-place income and market potential, offering investors the opportunity to increase revenue over time and significantly improve returns
Strong Rental Demand
East Harlem continues to see consistent tenant demand driven by location, transit, and neighborhood growth
2-bedroom layouts remain highly desirable for both families and shared living
Turnkey with Built-In Value Add
Fully occupied = day-one income
Opportunity to strategically reposition rents as leases turn over, without requiring major capital improvements
Development Flexibility
R7A zoning + air rights provide future expansion or redevelopment potential
Neighborhood on the Rise
Benefit from ongoing revitalization, new development, and increasing property values
Location Highlights
Steps to the 6 Train for seamless Midtown access
Minutes from Central Park and Museum Mile
Near El Museo del Barrio and the Museum of the City of New York
Close to Yorkville’s dining, shopping, and nightlife
Surrounded by new developments and major investment projects
The Bottom Line
With current rents in the low $2,000s and market rents ranging from $3,100 to $4,500, this property offers a compelling value-add opportunity in a high-demand Manhattan submarket. Investors can benefit from immediate cash flow today and meaningful income growth over time.
Don’t Miss This Opportunity
East Harlem is transforming—secure your position now while a true rent upside opportunity still exists.
Schedule a tour or request full financials today