Log In/Sign Up
Your email has been sent.
120 Haven Ave 35 Unit Apartment Building $7,673,600 CAD ($219,246 CAD/Unit) 7% Cap Rate New York, NY 10032
INVESTMENT HIGHLIGHTS
- This 35-unit walk-up building comprises six one-bedroom, 25 two-bedroom, and four three-bedroom apartments.
- With a high average rent of $2,084 per month, the building offers investors a steady annual cash flow of $382,993.
- 120 Haven Avenue is well located, close to Jay Hood Wright Park, the George Washington Bridge, and the 175th Street A Train.
- 7.0% Cap Rate | 6.3x GRM | $157,143 Per Unit | $214 Per Sqft.
- Additionally, there is $364,182 in delta upside between the actual and legal rent, which owners can capitalize upon vacancy.
EXECUTIVE SUMMARY
The New York Multifamily Team at Marcus & Millichap is pleased to offer the following opportunity in prime Washington Heights. 120 Haven Avenue is situated right off Riverside Drive on the corner of Haven Avenue and 172nd Street. The building spans 25,755 square feet and comprises 35 residential units. This corner walk-up building has been owned and operated by the same family for over 26 years and shall consist of six one-bedroom, 25 two-bedroom, and four three-bedroom apartments. In addition, the property has two free-market apartments that were properly stabilized through Individual apartment improvements. This offers investors a unique opportunity to acquire a legacy asset in a highly desirable submarket of Upper Manhattan, with future rental upside from a $364,182 annual preferential rent delta between actual and DHCR-registered rents. 120 Haven Avenue is conveniently located a few steps from Jay Hood Wright Park, the George Washington Bridge, and the 175th Street A Train.
PROPERTY FACTS
| Price | $7,673,600 CAD | Property Subtype | Apartment |
| Price Per Unit | $219,246 CAD | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 7% | Lot Size | 0.25 AC |
| Gross Rent Multiplier | 6.3 | Building Size | 25,755 SF |
| No. Units | 35 | No. Stories | 5 |
| Property Type | Multifamily | Year Built | 1920 |
| Zoning | R8 | ||
| Price | $7,673,600 CAD |
| Price Per Unit | $219,246 CAD |
| Sale Type | Investment |
| Cap Rate | 7% |
| Gross Rent Multiplier | 6.3 |
| No. Units | 35 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 25,755 SF |
| No. Stories | 5 |
| Year Built | 1920 |
| Zoning | R8 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 26 | - | 642 |
| 2+1 | 10 | - | 906 |
1 1
Walk Score®
Walker's Paradise (94)
Transit Score®
Rider's Paradise (100)
PROPERTY TAXES
| Parcel Number | 2139-0289 | Improvements Assessment | $2,002,892 CAD |
| Land Assessment | $199,883 CAD | Total Assessment | $2,202,775 CAD |
PROPERTY TAXES
Parcel Number
2139-0289
Land Assessment
$199,883 CAD
Improvements Assessment
$2,002,892 CAD
Total Assessment
$2,202,775 CAD
CONTACTS
-
Seth Glasser -
Michael Fusco -
Benjamin Myerow -
Christopher Mehran -
Marcus & Millichap
1 of 31
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
120 Haven Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.