925 Columbus Avenue
Mixed Use | 9.41% CAP | 9,500 SqFt
Marketing description
A 25’ wide 16 unit five (5) story mixed-use walkup apartment building. The property has a store on the first floor. The upper floors each has four studio apartments per floor. The apartments are rent stabilized, 8 of the units are vacant. The Liquor store has been there since the 1920’s.
Investment highlights
The units have a full kitchen and bathroom a eating/living area. They are individually metered for gas and electric. The meters are in the basement along with the oil boiler and water heater.
The property is a prime investment opportunity, because it has stable cash flow. The vacant apartments can be renovated to have their own boiler and water heaters. There’s also the potential to duplex or combine the vacant units to get more value.
The building is also a great user opportunity, the zoning allows the second floor to be converted into commercial space. One of the vacant units can be turned into an office and the new owner can live in the other vacant unit.
Located in the Upper West Side, Manhattan Valley has nice tree line streets, and fine restaurants and retail stores. The property is two blocks from the A, B and C trains on West 103rd Street and Central Park West. This allows travel throughout the city.
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