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549 Isham St 50 Unit Apartment Building $14,938,000 CAD ($298,760 CAD/Unit) 7.34% Cap Rate New York, NY 10034
Investment Highlights
- Highly visible corner property
Executive Summary
INVESTMENT HIGHLIGHTS
74% Free-Market Dominance: Escape theconstraints 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
74% Free-Market Dominance: Escape theconstraints 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
Property Facts
| Price | $14,938,000 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $298,760 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 7.34% | Building Size | 36,210 SF |
| No. Units | 50 | No. Stories | 5 |
| Property Type | Multifamily | Year Built | 1922 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R7-2, Bronx, (C1) - R7 - Medium-density apartment house district with lower parking requirements | ||
| Price | $14,938,000 CAD |
| Price Per Unit | $298,760 CAD |
| Sale Type | Investment |
| Cap Rate | 7.34% |
| No. Units | 50 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 36,210 SF |
| No. Stories | 5 |
| Year Built | 1922 |
| Opportunity Zone |
Yes |
| Zoning | R7-2, Bronx, (C1) - R7 - Medium-density apartment house district with lower parking requirements |
Amenities
Unit Amenities
- Tile Floors
- Granite Countertops
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Property Manager on Site
- Tenant Controlled HVAC
- Vintage Building
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 50 | - | 750 |
1 1
Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 2228-0014 | Improvements Assessment | $2,633,855 CAD |
| Land Assessment | $108,165 CAD | Total Assessment | $2,742,019 CAD |
Property Taxes
Parcel Number
2228-0014
Land Assessment
$108,165 CAD
Improvements Assessment
$2,633,855 CAD
Total Assessment
$2,742,019 CAD
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549 Isham St
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