Listed by Ariel Property Advisors
$8,000,000
579 Fort Washington Avenue
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 46,550
Units 62
Cap Rate 6.35%
NOI $508,286
Occupancy 95%
Price per SqFt $172
Year Built 1924
Stories 6
Lot Size (SqFt) 12,500
Zoning R7-2 / C1-4
Multifamily | 62 Units | $129,032/unit
Marketing description
579 Fort Washington Ave, New York, NY 10033 is a pre-war residential building located in Hudson Heights, part of Washington Heights in Upper Manhattan. Built in 1924, it’s a 5-story brick building with around 64 apartments.
Investment highlights
- 62-Unit Walk-Up Building Spanning 46,550 Square Feet in Washington Heights
- Favorable spread between legal and preferential rents
- Recently converted from oil to gas
- Located just two blocks from the A subway line
- Clean and well-maintained property with strong collections above 95%
- Newly finished pointing work on the entire facade
- Superb transit with quick Midtown access, walkable streets, abundant green spaces, and reputable public schools
- Predominantly one-bedroom apartment
- Transportation: 2 Blocks from the A subway
Listing Contacts
Listed by Ariel Property Advisors
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$508,286.00
$42,357.17/mo
Valuation Metrics
0
DSCR
6.35%
Cap Rate
6.35%
ROI
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