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606 West 137th Street Manhattan $7,900,000
  • 27,810
    SF
  • $284
    Price/SF
  • $316,000
    PPU
  • 3.15%
    CAP Rate
606 West 137th Street 606 West 137th Street 606 West 137th Street 606 West 137th Street
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INVESTMENT HIGHLIGHTS

We are pleased to highlight the sale of 606 west 137th street, a six (6) story, elevator serviced, twenty-five (25) unit multifamily apartment building comprised of one 2-bedroom unit, nineteen 3-bedroom units, four 4-bedroom units, and 1 super’s unit, located on a quiet, tree-lined street just blocks away from City College and the Columbia University Expansion Project. The building has undergone a tremendous amount of cap-ex including a complete elevator modernization, a brand new elevator cab, a 24/7 security and access system, a boiler conversion to gas, and a separate gas fired hot water heater.  With an estimated average net rent (based on 15% loss factor) of $17.19 per Sq. Ft. and $1,354.18 per unit per month, there is a tremendous amount of upside potential.  The building is just steps away from the 1 subway line on West 137th Street and Broadway and within close proximity to the many bus routes that service the neighborhood. Offered at $300,000 per unit and $269 per Sq. Ft., this is a unique investment opportunity to own a prime multifamily building with approximately 65’ of frontage on one of the most desirable residential blocks in Hamilton Heights-West Harlem, NY.

 

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