16-18 Waldron Ave - Apartments FOR SALE


Nyack, NY 10960
$7,995,000 USD
914-968-8500
16-18 Waldron Ave, Nyack, NY for Sale
$7,995,000 USD
Apartments - FOR SALE
1/10
null | 6.53% Cap Rate

16-18 Waldron Ave
Nyack, NY 10960


HIGHLIGHTS

  • Free-market apartment complex with no rent control in Rockland County.
  • Two buildings totaling 29 units positioned near Route 59 for exceptional access.
  • Significant recent upgrades to kitchens, bathrooms, and building systems.
  • Ample tenant amenities including laundry, storage rooms, outdoor recreation, and updated common areas.
  • Strategically located near major highways, bridges, and public transit, connecting to Central Nyack and greater New York metropolitan area.
  • Strong operational performance with upside potential and stable tenancy mix.

OVERVIEW

The Residences at Riverhill 59 offer a compelling investment opportunity in Central Nyack within Rockland County, featuring 29 free-market residential units. The property spans two garden-style walk-up buildings set over approximately 1.58 acres, providing a well-maintained, income-producing asset. Originally built in the 1970s with brick and wood-frame construction, the complex has undergone consistent upgrades, including modernized kitchens, stainless steel appliances, updated baths, and hardwood flooring. Renovated interiors feature LED lighting, new windows, and efficient heating systems. With a favorable unit mix of one-, two-, and three-bedroom configurations and ample parking—approximately 60 spaces—the property supports long-term tenant retention. Investors benefit from strong in-place NOI of $521,754 and projected upside with a gross rent roll of $870,000. Located just off Route 59 and minutes from the Governor Cuomo Bridge, the site boasts proximity to major retail, employment hubs, and regional transportation, enhancing its rental demand profile.

FOR SALE DETAILS

PRICE

$7,995,000 USD

PRICE/SF

$198 USD /SF

# OF UNITS

29

PRICE/UNIT

$275,690

CAP RATE

6.53%

% LEASED

75%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1971

PARKING SPACES

52

LAND DETAILS

LAND ACRES

1.54 AC

LAND SF

67,118 SF

ZONING

R-10 Medium-High Density

APN/PARCEL ID

392089-065-012-0002-006-000-0000

ASK ABOUT THIS PROPERTY

Marco LalaRM FriedlandMore Info
914-968-8500

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Marco LalaRM FriedlandMore Info
914-968-8500

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.