Multi-family

Exceptional Urban Investment Opportunity – 940-988 Columbus Ave, New York, NY

This 2-star mid-rise apartment building presents an outstanding investment opportunity in one of New York City’s most desirable urban locations. Priced at $8,500,000, the property offers a competitive cap rate of 6.80%, making it a lucrative choice for seasoned investors seeking long-term value and consistent returns.

Property Details

• Price: $8,500,000 ($500,000 per unit)
• Cap Rate: 6.80%
• Units: 17 market-rent apartments
• Stories: 5 stories within 1 building
• Gross Building Area (GBA): 11,093 SF
• Typical Floor Size: 2,219 SF
• Unit Density: 283 units per acre

Key Features

• Prime Urban Location: Nestled in a bustling neighborhood on Columbus Avenue, this property provides unparalleled access to transportation, dining, shopping, and cultural landmarks.
• Class C Property: A well-maintained asset offering value-add opportunities for enhancements and upgrades to drive future growth.
• Market-Rent Units: Ideal for capturing rental income in a high-demand market, with potential to optimize pricing strategies over time.

Investment Highlights

• Efficient Layout: Thoughtfully designed units maximize rentable space while maintaining tenant comfort.
• Versatile Market Segment: Suitable for a diverse tenant base, from young professionals to families.
• Solid Returns: The attractive cap rate provides a compelling balance of cash flow and appreciation potential.

Positioned in an urban hotspot, this mid-rise property is a rare find in New York City’s competitive real estate market. Don’t miss your chance to own this well-performing asset.

Contact us today to learn more or to schedule a viewing!