867 Riverside Dr - Apartments FOR SALE


New York, NY 10032- Washington Heights
$2,500,000 USD
516-509-5476
867 Riverside Dr, New York, NY for Sale
$2,500,000 USD
Apartments - FOR SALE
1/22
null | 5.88% Cap Rate

867 Riverside Dr
New York, NY 10032
Washington Heights


HIGHLIGHTS

  • Free-market status allows rent growth in line with market conditions
  • 100% occupancy with immediate cash flow
  • Low maintenance costs relative to building size and unit count
  • Steps from Riverside Park, Fort Washington Park, and the Hudson River Greenway
  • Surrounded by essential services and neighborhood conveniences

OVERVIEW

Discover a distinguished investment property at 867 Riverside Drive, nestled in Manhattan's historic Washington Heights neighborhood. This six-story, 4,550-square-foot multifamily, constructed in 1909, offers a compelling blend of historical charm and modern financial appeal. The building is comprised of 7 free-market units - 4 studios, 1 one-bedroom, and 2 two-bedrooms - each with 11 to 12 foot ceilings and unique layouts that enhance their desirability among tenants. All units are currently leased, ensuring immediate rental income. The manager's apartment is located in the basement, providing on-site management potential. This property promises a steady return on investment, as it allows for potential rent increases in line with market trends, offering significant upside potential. 867 Riverside Drive offers a rare balance of serenity and convenience. With the 1, A, and C trains nearby, commuting to Midtown or Downtown Manhattan is quick and easy, making it a great choice for most renters. The area is surrounded by green spaces like Riverside Park and Fort Washington Park. The Hudson River Greenway and George Washington Bridge Path offer even more options for recreation, while local favorites like The Hispanic Society Museum, cozy cafés, and essential amenities make day-to-day life both vibrant and effortless.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$661 USD /SF

# OF UNITS

7

PRICE/UNIT

$357,143

CAP RATE

5.88%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1909

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.03 AC

LAND SF

1,307 SF

ZONING

R8, New York (C5)

APN/PARCEL ID

2135-0030

ASK ABOUT THIS PROPERTY

Dominique FlorioSERHANT.More Info
516-509-5476

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Dominique FlorioSERHANT.More Info
516-509-5476

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