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925 Columbus Ave 17 Unit Apartment Building $4,081,620 CAD ($240,095 CAD/Unit) 3.70% Cap Rate New York, NY 10025
Investment Highlights
- Five-story mixed-use building with 17 apartments and ground-floor retail.
- Zoning allows second-floor conversion to commercial use.
- Two blocks from A, B, and C subway lines for easy access.
- Eight vacant units offer immediate value-add potential.
- Located in Manhattan’s Upper West Side near Central Park.
- Long-term retail tenant in place since the 1920s.
Executive Summary
The New York Multifamily Team at Marcus & Millichap is pleased to offer the following opportunity in one of the most sought-after neighborhoods in Upper Manhattan, Manhattan Valley. 925 Columbus Avenue is situated right by Columbia University, between 104th and 105th Streets. The building spans 9,635 square feet and is composed of 17 units, 16 residential with 1 commercial store on the ground floor. This corner mixed-use walk-up building has been owned and operated by the same family for over 39 years. 9 of the 16 residential apartments are vacant, providing investors the opportunity to either convert the vacant apartments to condos or lease those units to Columbia University students to maximize revenue.14/16 apartments have already been renovated within the last 10 years. 925 Columbus Avenue is conveniently located a few steps from Central Park, Columbia University, and Broadway's prime retail corridor.
The Building: This 17-unit walk-up building is composed of one store and 16 residential studios. 14/16residential apartments have been renovated in the last 10 yearsThe Metrics: $306 P/SF | $174k PPU | 9.1x GRMVacancy Upside: 9/16 apartments are vacant providing investors with the opportunity to either condo theunits or lease up to Columbia students at the max legal rent to maximize revenuePrime Location: 925 Columbus Avenue is located in close proximity to Central Park, Columbia University, and Broadway's prime retail corridor
The Building: This 17-unit walk-up building is composed of one store and 16 residential studios. 14/16residential apartments have been renovated in the last 10 yearsThe Metrics: $306 P/SF | $174k PPU | 9.1x GRMVacancy Upside: 9/16 apartments are vacant providing investors with the opportunity to either condo theunits or lease up to Columbia students at the max legal rent to maximize revenuePrime Location: 925 Columbus Avenue is located in close proximity to Central Park, Columbia University, and Broadway's prime retail corridor
Property Facts
| Price | $4,081,620 CAD | Property Subtype | Apartment |
| Price Per Unit | $240,095 CAD | Apartment Style | Mid-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 3.70% | Lot Size | 0.06 AC |
| Sale Condition | High Vacancy Property | Building Size | 9,635 SF |
| Gross Rent Multiplier | 9.1 | No. Stories | 5 |
| No. Units | 17 | Year Built | 1920 |
| Property Type | Multifamily | ||
| Zoning | R8B , C1-5 - High density residential with a commercial overlay | ||
| Price | $4,081,620 CAD |
| Price Per Unit | $240,095 CAD |
| Sale Type | Investment |
| Cap Rate | 3.70% |
| Sale Condition | High Vacancy Property |
| Gross Rent Multiplier | 9.1 |
| No. Units | 17 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 9,635 SF |
| No. Stories | 5 |
| Year Built | 1920 |
| Zoning | R8B , C1-5 - High density residential with a commercial overlay |
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 | 16 | - | - |
1 1
Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Exceptionally bikeable
90/100
Property Taxes
| Parcel Number | 1841-0003 | Improvements Assessment | $1,031,350 CAD |
| Land Assessment | $201,533 CAD | Total Assessment | $1,232,883 CAD |
Property Taxes
Parcel Number
1841-0003
Land Assessment
$201,533 CAD
Improvements Assessment
$1,031,350 CAD
Total Assessment
$1,232,883 CAD
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925 Columbus Ave
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