Listed by Alpha Realty NY
$11,000,000
549 & 573 Isham St
Details
APN 02228-0014, 02228-0001
Property Type Multifamily
Sub Type Apartment Building
Square Footage 63,150
Units 82
Cap Rate 7.35%
NOI $807,214
Tenancy Multi
Price per SqFt $174
Year Built 1921
Buildings 2
Stories 5
Zoning R7A
Investment Type Stabilized
Multifamily | 7.35% CAP | 82 Units
Marketing description
Two Multifamily Buildings located at 549 & 573 Isham Street in the Inwood neighborhood of Manhattan. This portfolio consists of 82 apartments totaling 63,150 square feet across two 5-story walk-up buildings constructed in 1921 and 1922. The property offers 70%+ free market units, providing significant growth potential and escape from rent regulation constraints.
Investment highlights
- 74% Free-Market Dominance: Escape the constraints of rent regulation with a portfolio heavily weighted toward market-rate units and uncapped growth
- Legacy Pride of Ownership: A rare, well-cared-for asset with a clean track record and decades of consistent management
- Quantifiable Upside: Below-market FM rents offer path to increased NOI
- Prime Upper Manhattan Connectivity: Located just steps from major subway lines, offering a seamless commute and a vibrant, "live-work-play" neighborhood atmosphere
Listing Contacts
Listed by Alpha Realty NY
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$807,214.00
$67,267.83/mo
Valuation Metrics
0
DSCR
7.34%
Cap Rate
7.34%
ROI
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