Multi-family

Presenting 119 West 81st Street, a 5-story mid-rise apartment building available for sale at $4,500,000 ($500,000 per unit) with a cap rate of 4.70%. This 2-star investment property features 9 units and is situated in a desirable Upper West Side location, making it an ideal opportunity for investors seeking steady returns and growth potential.

Property Overview:

• Address: 119 West 81st Street, New York, NY, 10024
• Sale Price: $4,500,000 ($500,000/Unit)
• Cap Rate: 4.70%
• Units: 9
• Avg Unit Size: 900 SF
• Stories: 5
• Class: C
• Gross Building Area (GBA): 4,978 SF
• Typical Floor Size: 996 SF
• # of Buildings: 1
• Units per Acre: 225/AC
• Rent Type: Market
• Location: Urban

Key Features:

• Desirable Upper West Side Location: Situated on the iconic West 81st Street, this property offers residents proximity to Central Park, cultural institutions, dining options, and excellent public transportation.
• Efficient Design: With an average unit size of 900 square feet and a typical floor size of 996 square feet, this property provides a balanced layout ideal for tenants seeking comfortable urban living.
• Market-Rate Rentals: All units are market-rate, offering a consistent income stream with potential for rent growth in this high-demand neighborhood.
• Strong Investment Metrics: With a competitive cap rate of 4.70%, this property delivers reliable returns while benefiting from the long-term appreciation of the Upper West Side real estate market.
• Urban Setting: The property’s location in a vibrant residential area ensures ongoing rental demand, catering to professionals, families, and students alike.

Conclusion:

119 West 81st Street represents a compelling investment opportunity with its prime location, solid cap rate, and market-rate rental units. Perfectly positioned in the heart of the Upper West Side, this property offers both steady cash flow and the potential for significant value appreciation. Don’t miss your chance to secure this asset in one of Manhattan’s most desirable neighborhoods!