517-525 W 212th St
New York, NY 10034
Multifamily Property For Sale
·
45 Units
Property Facts
| No. Units | 45 | Lot Size | 0.23 AC |
| Property Type | Multifamily | Building Size | 34,900 SF |
| Property Subtype | Apartment | No. Stories | 5 |
| Apartment Style | Mid-Rise | Year Built | 1925 |
| Building Class | C | ||
| Zoning | R7-2, New York, (C1) | ||
| No. Units | 45 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 34,900 SF |
| No. Stories | 5 |
| Year Built | 1925 |
| Zoning | R7-2, New York, (C1) |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
About 517-525 W 212TH ST , NEW YORK, NY 10034
The subject asset is a 5-story multifamily property consisting of 45 apartments. Of the units, 10 are vacant (currently being gut renovated), 39 of the units are rent stabilized, 5 are free market, and 1 is a super’s unit. There are 25 one-bedroom, and 20 two-bedroom units. The property is built 34,900 SF on a 9,992 SF lot. The property presents an incoming investor with short & long term upside. By renting out the 10 vacant units to new tenants as well as bringing RS rents to their legal rate, the asset can achieve an additional $300,000 in gross income. Further upside is present from the potential of converting RS units to FM. The property is located on 212th Street, between Broadway and 10th Avenue in Inwood, just four blocks from the 1 and A subway stops. In close proximity, there are numerous bars/restaurants, Columbia University Baker Athletics Complex, and the Met Cloisters in Fort Tryon Park.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 25 | - | - |
| 2+1 | 20 | - | - |
Property Taxes
| Parcel Number | 2230-0029 | Improvements Assessment | $1,371,000 |
| Land Assessment | $80,100 | Total Assessment | $1,451,100 |
Property Taxes
