Two Contiguous 5 Story Walk-Ups | 47 Units | Corner Location

11-18-2021
11-18-2021

82 Wadsworth Avenue & 650 West 177th Street, New York, NY 10033

Property Description

Ariel Property Advisors is pleased to present 82 Wadsworth Avenue and 650 West 177th Street (aka 84 Wadsworth Avenue). This is a rare opportunity to acquire two contiguous walkup buildings. The subject properties span approximately 38,375 gross square feet and are comprised of 47 spacious residential units, located on the southwest side of Wadsworth Avenue between West 176th Street and West 177th Street.

The unit mix comprises of 1 one-bedroom, 28 two-bedroom and 18 threebedroom apartments, which consist of 35 rent-stabilized and 12 free-market units. The free-market units are currently operating at below market rates and offer upside to future investors. 82-84 Wadsworth Avenue is situated in the heart of Washington Heights and is within walking distance to several institutions, eateries, and attractions such as Yeshiva University, New York-Presbyterian Hospital, Ft. Tryon Park, and the Cloisters Museum. Additionally, the A subway train is a short walk south of the property at 175th Street and Fort Washington Avenue. The tenants also benefit from the property’s proximity to local highways, the George Washington Bridge and the bustling 181st Street Corridor.

82 Wadsworth Avenue and 650 West 177th Street present investors with a prime Washington Heights multifamily investment opportunity with value-add opportunity. Please contact our sales team for further information and to arrange access, which will be provided by appointment only.

Key Property Information

Listing Status
Available
Price
$ 9,199,999
No. of Units
47
Cap Rate
4.9%
GRM / GIM
10.99
Year Built
0
Building Size
38,375 Sq ft
Lot Size
9,992 Sq ft
No. of Stories
5
Zoning Code
R7-2
Opportunity Zone
Off
Price per unit
$ 195,745
View broker details

Additional Contacts

Victor Sozio | (212) 544-9500 ext. 12
James Nestor | (212) 544-9500 ext. 86
Sign in to use the inquiry form

40.847099, -73.937291