Prime Multi-Family Investment in the Upper West Side – 70 West 82nd Street
Address: 70 West 82nd Street, New York, NY, 10024
Price: $5,500,000 ($550,000/Unit)
Cap Rate: 4.26%
Type: 2-Star Mid-Rise Apartments
Location: Urban
Units: 10 (9 Market-Rate, 1 Rent-Stabilized)
Stories: 6
Building Class: C
Gross Building Area (GBA): 5,436 SF
Typical Floor Size: 906 SF
Number of Buildings: 1
Market Segment: All
Rent Type: Market/Affordable
Affordable Type: Rent-Stabilized
Affordable Units: 1
Investment Overview:
70 West 82nd Street presents a rare opportunity to acquire a multi-family property in the prestigious Upper West Side, one of Manhattan’s most sought-after residential markets. This six-story mid-rise apartment building consists of 10 total units, with 9 market-rate apartments and 1 rent-stabilized unit, providing a blend of stable income and future rental growth potential.
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Key Features:
Prime Upper West Side Location:
- Located just steps from Central Park, attracting a high-end tenant base seeking prime residential living.
- Surrounded by top-tier dining, boutique retail, and cultural landmarks, including the American Museum of Natural History and Lincoln Center.
- Close to Columbus Avenue and Broadway, ensuring strong foot traffic and high rental demand from professionals, families, and long-term residents.
Strong Rental Income & Value Appreciation:
- 4.26% cap rate, offering a balance of steady income and long-term value appreciation.
- Majority market-rate units, allowing for rent increases in line with market trends.
- One rent-stabilized unit, providing consistent income and investment stability.
Efficient & Well-Maintained Property:
- 5,436 SF across 6 stories, with a typical floor size of 906 SF, offering efficient unit layouts.
- Class C construction, with potential for renovations to increase rental yield.
- Turnkey investment with low operating costs and strong rental occupancy.
Upper West Side’s Thriving Rental Market:
- The Upper West Side continues to experience high rental demand, with limited housing supply and increasing property values.
- Ideal for multi-family investors, long-term holders, and value-add specialists looking to capitalize on one of NYC’s most resilient rental markets.
- Competitive pricing at $550,000 per unit, making it an attractive investment in a high-appreciation neighborhood.
Investment Highlights:
✔ 10-unit mid-rise apartment building in the Upper West Side
✔ $5,500,000 asking price ($550,000/unit) with a 4.26% cap rate
✔ 9 market-rate units with 1 rent-stabilized unit for stable income
✔ 5,436 SF total space with well-configured apartment layouts
✔ Prime location near Central Park, Columbus Avenue, and cultural institutions
Conclusion:
70 West 82nd Street presents a compelling investment opportunity for multi-family investors looking to acquire a cash-flowing, well-located property in the Upper West Side. With strong rental demand, a blend of market-rate and affordable units, and future appreciation potential, this property is ideal for investors seeking long-term stability and asset growth in one of NYC’s premier neighborhoods.
Contact us today to schedule a private tour and secure this outstanding investment property!
