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360 W 119th St 14 Unit Apartment Building $5,500,000 ($392,857/Unit) 5.22% Cap Rate New York, NY 10026
Matterport 3D Tour
INVESTMENT HIGHLIGHTS
- 360 W 119th Street is an exceptionally maintained 14-unit residential building near Morningside Park and public transportation access in Harlem.
- Unit mix includes four one-bedroom/one-bathroom and 10 two-bedroom/one-bathroom apartments, all leased at market rate with strong income potential.
- Common areas redone in 2023 with renovated apartment units featuring sleek high-end appliances, stone countertops, and rich hardwood flooring.
- Surrounded by over 567,000 residents with strong rental demand, as 80% of nearby households rent, supporting ongoing occupancy and income stability.
EXECUTIVE SUMMARY
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.
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.
MATTERPORT 3D TOUR
View the Unit Virtual Tour
SALE FLYER
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| 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 | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS Under Contract
| Price | $5,500,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $392,857 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 5.22% | Building Size | 9,630 SF |
| No. Units | 14 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 5 |
| Property Subtype | Apartment | Year Built/Renovated | 1901/2007 |
| Zoning | R7-2, New York (C4) - Commercial district predominantly residential in character | ||
| Price | $5,500,000 |
| Price Per Unit | $392,857 |
| Sale Type | Investment |
| Cap Rate | 5.22% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 9,630 SF |
| Average Occupancy | 100% |
| No. Stories | 5 |
| Year Built/Renovated | 1901/2007 |
| Zoning | R7-2, New York (C4) - Commercial district predominantly residential in character |
AMENITIES
UNIT AMENITIES
- Heating
- Refrigerator
- Oven
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 2+1 | 10 | - | - |
1 1
Walk Score®
Walker's Paradise (96)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (83)
ABOUT HARLEM
Located in northern Manhattan, Harlem’s growing multifamily scene has led the way for vibrant retail offerings and new office development. The area is home to the iconic Apollo Theater, El Museo del Barrio, and the acclaimed Red Rooster Restaurant. Offering a respite from high rents in most Manhattan neighborhoods, Harlem has become an attractive option for families and young first-time renters, which has helped transform the area’s landscape.
Columbia University, which is located in Harlem, continues to invest in the neighborhood and has boosted its visibility with several recent developments. The university is working on a new 17-acre campus in Manhattanville. Already open is the 450,000-SF Jerome L. Greene Science Center, which accommodates nearly 1,000 researchers and grad students.
This increase in the daytime population has acted as a catalyst for the retail corridor, which has welcomed Whole Foods into the neighborhood on 125th Street. Apartment developers have taken note of these strong demand drivers, with plenty of rental units currently under construction.
NEARBY AMENITIES
RESTAURANTS |
|||
|---|---|---|---|
| Starbucks | Cafe | $ | 3 min walk |
| Harlem Burger Co. | Sandwiches | $ | 4 min walk |
| Lolos Seafood Shack | Seafood | $$ | 5 min walk |
| Dunkin' | Cafe | - | 6 min walk |
| Chipotle | - | - | 8 min walk |
RETAIL |
||
|---|---|---|
| Lidl | Supermarket | 3 min walk |
| Chase Bank | Bank | 3 min walk |
| My Gym | Fitness | 6 min walk |
| United States Postal Service | Business/Copy/Postal Services | 7 min walk |
| CVS Pharmacy | Drug Store | 8 min walk |
HOTELS |
|
|---|---|
| aloft Hotel |
125 rooms
2 min drive
|
| Renaissance |
211 rooms
3 min drive
|
| Wingate by Wyndham |
70 rooms
7 min drive
|
| Best Western Plus |
101 rooms
7 min drive
|
| Courtyard |
226 rooms
10 min drive
|
PROPERTY TAXES
| Parcel Number | 1945-0058 | Total Assessment | $924,110 (2025) |
| Land Assessment | $141,750 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $782,360 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
1945-0058
Land Assessment
$141,750 (2025)
Improvements Assessment
$782,360 (2025)
Total Assessment
$924,110 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
SALE ADVISOR
SALE ADVISOR
Michelle Blake, Principle Broker
Michelle Blake joined Keyah Enterprises in 2002. She specializes in condos, rentals and investment properties.
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