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42 E 132nd St 12 Unit Apartment Building $4,291,950 CAD ($357,663 CAD/Unit) 7.40% Cap Rate New York, NY 10037
EXECUTIVE SUMMARY
Built in 2019, 42 East 132nd Street is an eight-story elevator apartment building spanning 14,000 square feet and includes 12 apartments, one ground floor community facility, and a rooftop antenna. The building was constructed under a 25-Year 421a tax abatement (70/30) expiring in 2044, providing investors with generous tax savings during the abatement period. The property is walking distance to Harlem River Park, Marcus Garvey Park, and Harlem Hospital Center (NYC Health + Hospitals Medical Center). Nearby subways include the [2, 3] Trains at 135th Street.
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PROPERTY FACTS
| Price | $4,291,950 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $357,663 CAD | Building Class | A |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 7.40% | Building Size | 14,000 SF |
| Gross Rent Multiplier | 8.1 | Average Occupancy | 92% |
| No. Units | 12 | No. Stories | 8 |
| Property Type | Multifamily | Year Built | 2020 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R7B - Medium-density apartment house district with lower parking requirements ; Commercial district predominantly residential in character | ||
| Price | $4,291,950 CAD |
| Price Per Unit | $357,663 CAD |
| Sale Type | Investment |
| Cap Rate | 7.40% |
| Gross Rent Multiplier | 8.1 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | A |
| Lot Size | 0.06 AC |
| Building Size | 14,000 SF |
| Average Occupancy | 92% |
| No. Stories | 8 |
| Year Built | 2020 |
| Opportunity Zone |
Yes |
| Zoning | R7B - Medium-density apartment house district with lower parking requirements ; Commercial district predominantly residential in character |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Refrigerator
SITE AMENITIES
- Bicycle Storage
- Elevator
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 12 | - | - |
1 1
Walk Score®
Very Walkable (89)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (79)
PROPERTY TAXES
| Parcel Number | 1756-0048 | Improvements Assessment | $949,181 CAD |
| Land Assessment | $280,247 CAD | Total Assessment | $1,229,428 CAD |
PROPERTY TAXES
Parcel Number
1756-0048
Land Assessment
$280,247 CAD
Improvements Assessment
$949,181 CAD
Total Assessment
$1,229,428 CAD
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42 E 132nd St
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