Multifamily
101 W 104th St
101 W 104th St, New York, NY 10025
Listing Price: $11,000,000
Investment Overview
Marcus & Millichap is pleased to exclusively offer the sale of 101 West 104th Street the located on the Upper West Side. Situated on the corner of West 104th Street and Columbus Avenue, this rare 36-foot-wide free market building contains ten apartments and four stores. 95 feet of retail frontage on Columbus Ave and totals 18,838 square feet with 10 residential apartments and 4 commercial spaces. Owned for over 40 years, 101 West 104th Street offers investors a unique opportunity to acquire a free market property with several ways to add value. The average rents in the two-bedroom apartments are well below market at an average of $2,900/month with market comps supporting rents ~$4,000/month. Units 1, 10 & 8 will be delivered vacant at closing which allows investor to capitalized and execute on an immediate value-add business plan with a clear path to rental upside. This meticulously maintained property is conveniently located just two blocks off Central Park West, within walking distance to the 103rd Street 1, A, B & C subway lines & is surrounded by national retailers such as Whole Foods, Starbucks, Home Goods, Target & Bank of America.
101 W 104th St
Investment Highlights
- MARKET RATE: Eight of the ten units are deregulated. One rent stabilized, and one rent stabilized/temporarily exempt unit, will both be delivered vacant at closing.
- RETAIL: The four retail spaces span the entire 95 feet of the property along Columbus Avenue. Averaging 828 square feet, the mid-sized spaces provide constant rental demand and ensures future growth
- UNIT MIX: This property has 4 commercial spaces with frontage on Columbus Avenue, 9 free market apartments and one stabilized apartment which will be vacant at closing.
Exclusively Listed By
Listing Price: $11,000,000
Investment Highlights
- MARKET RATE: Eight of the ten units are deregulated. One rent stabilized, and one rent stabilized/temporarily exempt unit, will both be delivered vacant at closing.
- RETAIL: The four retail spaces span the entire 95 feet of the property along Columbus Avenue. Averaging 828 square feet, the mid-sized spaces provide constant rental demand and ensures future growth
- UNIT MIX: This property has 4 commercial spaces with frontage on Columbus Avenue, 9 free market apartments and one stabilized apartment which will be vacant at closing.
Investment Overview
Marcus & Millichap is pleased to exclusively offer the sale of 101 West 104th Street the located on the Upper West Side. Situated on the corner of West 104th Street and Columbus Avenue, this rare 36-foot-wide free market building contains ten apartments and four stores. 95 feet of retail frontage on Columbus Ave and totals 18,838 square feet with 10 residential apartments and 4 commercial spaces. Owned for over 40 years, 101 West 104th Street offers investors a unique opportunity to acquire a free market property with several ways to add value. The average rents in the two-bedroom apartments are well below market at an average of $2,900/month with market comps supporting rents ~$4,000/month. Units 1, 10 & 8 will be delivered vacant at closing which allows investor to capitalized and execute on an immediate value-add business plan with a clear path to rental upside. This meticulously maintained property is conveniently located just two blocks off Central Park West, within walking distance to the 103rd Street 1, A, B & C subway lines & is surrounded by national retailers such as Whole Foods, Starbucks, Home Goods, Target & Bank of America.
Exclusively Listed By
