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Multifamily

4 West 4th Street

4 West 4th Street, New York, NY 10012

Listing Price: $2,700,000

Cap Rate
7.00%
Number of Units
18
Price/Unit
$150,000
Price/Gross SF
$168.75
Gross SF
16,000

Investment Overview

THE OFFERING Marcus & Millichap is pleased to exclusively offer the sale of 4 West 4th Street, located in the South Side submarket of Mount Vernon. 4 West 4th Street Is located on the corner of West 4th between South 4th & South 5th Avenues. This property is composed of 18 residential units and has a favorable unit mix of 16 one-bedroom, 1 two-bedroom and 1 three-bedroom apartment. Built in 1945 and spanning 16,000 square feet, recent upgrades to be noted are a newly sealed roof, handful of renovated apartments with new flooring, painting, kitchens, and bathroom as well as a brand-new boiler heat timer. 4 West 4th is conveniently located a short distance away from the South 4th Bus station, Metro North Train station & 241st Street M train. THE OPPORTUNITY Opportunity: 18-unit walkup building spanning 16,000 square feet on the corner of West 4th Street in the South Side submarket of Mount Vernon. Unit Mix: There are 16 one-bedroom, 1 two-bedroom, & 1 three-bedroom apartments. Fully rent stabilized, this asset occupancy approximately 60% Section 8. Tenants pay for their own cooking gas & electric. Assumable Financing: Offering investors a unique opportunity to secure below market long term debt, there is an existing Fannie Mae loan with a balance of $1,740,474 with 7 years remaining at a fixed interest rate of 3.1% Location & Transportation: 4 West 4th is conveniently located a short distance away from the South 4th Bus station, Metro North Train station & 241st Street M train.

Investment Highlights

  • Opportunity: 18-unit walkup building spanning 16,000 square feet on the corner of West 4th Street in the South Side submarket of Mount Vernon.
  • Unit Mix: There are 16 one-bedroom, 1 two-bedroom, & 1 three-bedroom apartments. Fully rent stabilized, this asset occupancy approximately 60% Section 8.
  • Assumable Financing: Offering investors a unique opportunity to secure below market long term debt

Exclusively Listed By

Multifamily

4 West 4th Street

Listing Price: $2,700,000

Cap Rate
7.00%
Number of Units
18
Price/Unit
$150,000
Price/Gross SF
$168.75
Gross SF
16,000

Investment Highlights

  • Opportunity: 18-unit walkup building spanning 16,000 square feet on the corner of West 4th Street in the South Side submarket of Mount Vernon.
  • Unit Mix: There are 16 one-bedroom, 1 two-bedroom, & 1 three-bedroom apartments. Fully rent stabilized, this asset occupancy approximately 60% Section 8.
  • Assumable Financing: Offering investors a unique opportunity to secure below market long term debt

Investment Overview

THE OFFERING Marcus & Millichap is pleased to exclusively offer the sale of 4 West 4th Street, located in the South Side submarket of Mount Vernon. 4 West 4th Street Is located on the corner of West 4th between South 4th & South 5th Avenues. This property is composed of 18 residential units and has a favorable unit mix of 16 one-bedroom, 1 two-bedroom and 1 three-bedroom apartment. Built in 1945 and spanning 16,000 square feet, recent upgrades to be noted are a newly sealed roof, handful of renovated apartments with new flooring, painting, kitchens, and bathroom as well as a brand-new boiler heat timer. 4 West 4th is conveniently located a short distance away from the South 4th Bus station, Metro North Train station & 241st Street M train. THE OPPORTUNITY Opportunity: 18-unit walkup building spanning 16,000 square feet on the corner of West 4th Street in the South Side submarket of Mount Vernon. Unit Mix: There are 16 one-bedroom, 1 two-bedroom, & 1 three-bedroom apartments. Fully rent stabilized, this asset occupancy approximately 60% Section 8. Tenants pay for their own cooking gas & electric. Assumable Financing: Offering investors a unique opportunity to secure below market long term debt, there is an existing Fannie Mae loan with a balance of $1,740,474 with 7 years remaining at a fixed interest rate of 3.1% Location & Transportation: 4 West 4th is conveniently located a short distance away from the South 4th Bus station, Metro North Train station & 241st Street M train.

Exclusively Listed By

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