Marcus & Millichap presents 515 West 170th Street, a well-maintained walk-up in Washington Heights with 35 apartments, including 12 one-bedroom, 18 twobedroom, and 5 three-bedroom units. 10 of these units are deregulated, offering an average rent of $2,238, with strong upside potential. The property spans 29,250 square feet and is ideally located near key amenities like New York- Presbyterian, Columbia University Medical Center, Audubon Playground, and the 168th Street A & C train. This building has been maintained by the same family for nearly 25 years, offering both immediate and long-term investment opportunities.
• Free Market Component: 29% of apartments in this asset have been destabilized through IAI’s providing investors with both immediate and longterm upside. The 10 free market units have an average monthly rent of $2,238.
• The Metrics: 5.1x GRM | $105,429 per Unit | $126 per Square Foot
• Prime Location: 515 West 170th Street is conveniently located near New York-Presbyterian / Columbia University Medical Center, Audubon Playground, P.S. 513 Castle Bridge School, and the 168th Street A & C train.