Turn Key & Value Add 8 Family | 4.5% Plus Cap

For Sale - 561 WEST 161 STREET- Manhattan - Washington Heights

$2,200,000

Net Operating Income: $99,972

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Key Details

Property Type
MultiFamily
Neighborhood
Washington Heights
Property Dimensions
19.0 x 64.0
Property Area
4,435 sq.ft.
Total Units:
7
Stories:
4
NOI
$99,972
Price
$2,200,000
Price Per Unit
$314,285
Cap Rate
4.5%

Listing Description

Palladium Property Group is proud to present this exclusive multifamily asset located in the Washington Heights section of Manhattan. This 4,435 square foot building is 100% rent-stabilized with one vacant unit and a recently reduced asking price. An 8 unit multi-family asset a half block from the A / C subway lines at 163rd St and four blocks from the 1 subway line at 157th St. Each apartment has been renovated with close proximity to four major employers--Columbia University, Columbia School of Nursing, NY Presbyterian Hospital, City College and is a half block from the Broadway commercial corridor for shopping, restaurants.

Property Details

Block/Lot:
2120/60
Lot Dimensions
18.92 x 99.92
Lot Area
1,890 sq.ft
Zoning:
R7-2
FAR as Built:
2.35
Max FAR:
6.5
Brandon BressanPalladium Property Group
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Sales & Transactions

AddressSale PriceSale DateProperty Type
547 WEST 160 STREET$766,74106/29/2018MultiFamily
531 WEST 160 STREET$425,46206/29/2018MultiFamily
529 WEST 187TH STREET$1,395,00006/20/2018MultiFamily
4 SOUTH PINEHURST AVEN$19,550,00006/19/2018MultiFamily
574-576 WEST 176TH STREET$14,475,00006/14/2018MultiFamily
524 WEST 175 STREET$1,275,00006/01/2018MultiFamily
452 WEST 164 STREET$4,795,00004/17/2018MultiFamily
136 HILLSIDE AVENUE$2,013,80204/12/2018MultiFamily
552 W 161 ST$1,749,00004/11/2018MultiFamily
527 WEST 162 STREET$1,150,00003/22/2018MultiFamily