510 W 144th St - Apartments FOR SALE


New York, NY 10031- Hamilton Heights
$6,000,000 USD
212-430-6134
510 W 144th St, New York, NY for Sale
$6,000,000 USD
Apartments - FOR SALE
1/17
null | 7.67% Cap Rate

510 W 144th St
New York, NY 10031
Hamilton Heights


HIGHLIGHTS

  • 510 West 144th Street is 25% free market with 11 of 44 units providing a clear path to rent growth.
  • There is also one rent-controlled 2 bedroom apartment, presenting investors with potential long-term upside.
  • 7.67% Cap Rate | 6.1x GRM | $145 per square foot
  • 510 West 144th Street is conveniently located near the 145th Street D & 1 Subway Lines, The City College of NY, and Montefiore Hospital.

OVERVIEW

The New York Multifamily Team at Marcus & Millichap is pleased to offer 510 West 144th Street, in the heart of Harlem. This meticulously maintained elevator building is comprised of 44 apartments, 11 of which are free-market. Spanning 41,420 square feet, this asset is situated in prime Upper Manhattan between Hamilton Place & Broadway, right off Amsterdam Avenue. With 25% of the units free market and a single rent- controlled two-bedroom apartment, the property provides investors with both immediate and long-term upside. 510 West 144th Street has been professionally managed, owned, and operated by the same family office for nearly 30 years. THE OPPORTUNITY Professionally Managed Legacy Asset: This 44-unit elevator building has been professionally managed, owned and operated by the same family office for nearly 30 years, offering investors a unique opportunity to acquire a legacy asset in a highly desirable submarket of Upper Manhattan.

FOR SALE DETAILS

PRICE

$6,000,000 USD

PRICE/SF

$120 USD /SF

# OF UNITS

44

PRICE/UNIT

$136,364

CAP RATE

7.67%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

6

YEAR BUILT

1925

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

9,901 SF

ZONING

R7-2

APN/PARCEL ID

2075-0039

ASK ABOUT THIS PROPERTY

Seth GlasserMarcus & MillichapMore Info
212-430-6134

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Seth GlasserMarcus & MillichapMore Info
212-430-6134

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