515 West 170th Street — Sale in New York, NY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: New York, NY 10032

Investment Figures

Cap rate
7.60%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present the following opportunity in the heart of Washington Heights. 515 West 170th Street is an ideally positioned walk-up composed of 35 apartments, including 12 one-bedroom units, 18 two-bedroom units, and 5 three-bedroom apartments. 10 of these units have been deregulated through individual apartment improvements, achieving an average monthly rent of $2,238, and providing investors with both immediate and long-term upside. Situated between Audubon and Amsterdam Avenue, the asset spans 29,250 square feet and provides investors with both immediate and long-term upside. 515 West 170th Street has been meticulously maintained by the same family for nearly 25 years. This building is in close proximity to New York-Presbyterian / Columbia University Medical Center, Audubon Playground, P.S. 513 Castle Bridge School, and the 168th Street A & C train. Investment Highlights: • 515 West 170th Street, built in 1917, is a 35 unit walk-up spanning 6 stories, and is approx. 29,250 SF on a 65' x100' FT lot. • 6.2x GRM | $128,571 per Unit | $154 per Square Foot | 30% Free Market • 515 West 170th Street is conveniently located near New York-Presbyterian / Columbia University Medical Center, Audubon Playground, P.S. 513 Castle Bridge School, and the 168th Street A & C train.

Market Context

This multifamily in New York, NY is listed for sale. It is offered at an approximate 7.6% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 100 days. Compare it against other multifamily listings for sale in New York, NY — view the full market.

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