422 Saint Nicholas Ave - Apartments FOR SALE


New York, NY 10027
$5,000,000 USD
718-663-2639
422 Saint Nicholas Ave, New York, NY for Sale
$5,000,000 USD
Apartments - FOR SALE
1/18
null | 7.17% Cap Rate

422 Saint Nicholas Ave
New York, NY 10027


HIGHLIGHTS

  • 80% Free Market Building | 10 large apartments (8 Free Market, 2 Rent Controlled) - attractive unit mix with value-add potential
  • Well-Maintained Building | Roof, boiler and common areas have been replaced and renovated over the past few years
  • Close Proximity to Retail Hotspots | Within a 6 min walk to the 125th St retail hub with notable tenants such as DSW Shoes, Apollo Theater, & More
  • Convenient Location | Directly across the street from St Nicholas Park, 3 min walk to the 135th subway station, 6 min walk to 125th St Subway
  • Building Infrastructure | Gas fired boiler for heating and individual meters for electric
  • Building Amenities | Common rear yard, basement laundry, and underutilized basement space for potential tenant storage or additional amenities

OVERVIEW

422 St Nicholas Avenue is an 80% free-market multifamily building across the street from St Nicholas Park. The building includes 10 large apartments, complete with 8 free-market units and two rent-controlled units - an attractive mix with value-add potential! The building is well maintained with several significant capital improvements over the past few years. It is in a great location for residents, located directly across from St Nicholas Park, and within a short walk to the 125th and 135th Street subway stations. Please contact exclusive brokers for more information or to arrange for property inspection.

FOR SALE DETAILS

PRICE

$5,000,000 USD

PRICE/SF

$375 USD /SF

# OF UNITS

10

PRICE/UNIT

$500,000

CAP RATE

7.17%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

80% FREE MARKET 10-UNIT MULTIFAMILY BUILDING

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

1932

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,614 SF

ZONING

R8

APN/PARCEL ID

1958-0059

ASK ABOUT THIS PROPERTY

Stephen PreussRipco Real EstateMore Info
718-663-2639

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Stephen PreussRipco Real EstateMore Info
718-663-2639

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