360 W 119th St 14 Unit Apartment Building $5,500,000 ($392,857/Unit) 5.22% Cap Rate New York, NY 10026

360 W 119th Street presents a rare opportunity to acquire an exceptionally maintained, 14-unit multifamily building in the heart of Harlem. This five-story, mid-rise property is ideally situated between Morningside and Manhattan Avenues, just steps from Morningside Park and convenient public transportation options.

The unit mix includes four one-bedroom, one-bathroom apartments and 10 two-bedroom, one-bathroom apartments, most of which have been fully renovated in recent years with high-end appliances, stone countertops, and rich hardwood flooring. The building’s common areas were completely redone in 2023, reflecting ongoing maintenance and upkeep. All units are market rate, offering investors immediate upside in a supply-constrained rental market.

Located in a densely populated neighborhood with over 567,000 residents within a 2-mile radius, where 80% of households rent rather than own, 360 W 119th benefits from continued renter demand and limited competition from the for-sale market. This residential property is a prime opportunity for investors seeking long-term growth, reliable cash flow, and stability in a thriving Manhattan submarket.