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627 W 142nd St 8 Unit Apartment Building $1,350,000 ($168,750/Unit) 9.85% Cap Rate New York, NY 10031
INVESTMENT HIGHLIGHTS
- Property in close proximity to Columbia University Main Campus and City College of New York
- Close to many bars, restaurants, food stores, and bakeries
- Attractive 9.85% cap rate and 19.6% IRR
- Convenient to Riverbank State Park and Harlem Public
- Fully rent-stabilized 8-unit building with strong cash flow
EXECUTIVE SUMMARY
The property is a three-story, residential non-elevator building located on the west side of Hamilton Heights between Riverside Drive and Broadway on West 142nd Street within Northern Manhattan. Properties like 627 West 142nd Street rarely trade, and this offering represents a fantastic opportunity for an investor to enter or expand into the New York City marketplace.
On any day, turn the corner for a morning walk down picturesque Convent Avenue. You will find its quiet, tree-lined streets alive with students and professors making their way to the campus, with its magnificent entrance.
On any day, turn the corner for a morning walk down picturesque Convent Avenue. You will find its quiet, tree-lined streets alive with students and professors making their way to the campus, with its magnificent entrance.
PROPERTY FACTS Under Contract
| Price | $1,350,000 | Apartment Style | Garden |
| Price Per Unit | $168,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.03 AC |
| Cap Rate | 9.85% | Building Size | 3,000 SF |
| Gross Rent Multiplier | 10.73 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 1926 |
| Property Subtype | Apartment | ||
| Zoning | R8, Manhattan(C5) - High density residential district | ||
| Price | $1,350,000 |
| Price Per Unit | $168,750 |
| Sale Type | Investment |
| Cap Rate | 9.85% |
| Gross Rent Multiplier | 10.73 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.03 AC |
| Building Size | 3,000 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1926 |
| Zoning | R8, Manhattan(C5) - High density residential district |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Disposal
- Fireplace
- Heating
- Tile Floors
- Crown Molding
- Kitchen
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Oven
- Sprinkler System
- Stainless Steel Appliances
- Tub/Shower
- Views
- Yard
- Basement
- Deck
- Garden
- Handrails
- Skylights
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Fenced Lot
- Walking/Biking Trails
- Public Transportation
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 8 | - | 350 |
1 1
Walk Score®
Walker's Paradise (94)
Transit Score®
Rider's Paradise (100)
PROPERTY TAXES
| Parcel Number | 2089-0118 | Improvements Assessment | $43,985 |
| Land Assessment | $9,125 | Total Assessment | $53,110 |
PROPERTY TAXES
Parcel Number
2089-0118
Land Assessment
$9,125
Improvements Assessment
$43,985
Total Assessment
$53,110
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Expansion Central Development, LLC
627 W 142nd St
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