180 Theodore Fremd Ave - Apartments FOR SALE


Rye, NY 10580
$27,500,000 USD
917-662-0080
180 Theodore Fremd Ave, Rye, NY for Sale
$27,500,000 USD
Apartments - FOR SALE
1/9
null | 6.58% Cap Rate

180 Theodore Fremd Ave
Rye, NY 10580


HIGHLIGHTS

  • Prime location. Tons of Upside Potential. Possibility to negotiate a new 99 year lease.

OVERVIEW

Click Here for the OM: https://docsend.com/view/s/2ge9e5jcr2j7m7fy Rye Village - Executive Summary •Milton Point is pleased to present for sale the Leasehold Interest in Rye Village, a meticulously maintained brick garden style complex located at 150 Theodore Fremd Ave., 160 Theodore Fremd Ave., and 125 Central Ave. in Rye, NY. •The property is comprised of eight buildings containing 104 units (1 studio, 38-one bedrooms, 17-two bedroom/one baths, 20-two bedroom/two baths, 19-three bedroom duplexes, 7-four bedroom duplexes, and 2 offices) totaling 135,325 square feet. •The complex was built between 1957 and 1962. Situated on two parcels separated by Central Ave., the site is a total of 6.51 acres. There are 141 surface parking spaces, 41 rentable garages, 43 rentable climate controlled self-storage units, off-street parking, two playgrounds, and laundry facilities in each building under a lease with Hercules. •The lease is a triple net lease. There are 40 years remaining on it with an expiration date of September 30, 2065. Fee ownership of the property has been in the same family for over 50 years.

FOR SALE DETAILS

PRICE

$27,500,000 USD

PRICE/SF

$541 USD /SF

# OF UNITS

104

PRICE/UNIT

$264,423

CAP RATE

6.58%

% LEASED

97%

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Rye Village Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1958

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.94 AC

LAND SF

128,093 SF

ZONING

-

APN/PARCEL ID

1400-146-010-00001-000-0071

ASK ABOUT THIS PROPERTY

Adam KessnerK5 EquitiesMore Info
917-662-0080

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Adam KessnerK5 EquitiesMore Info
917-662-0080

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