484 Amsterdam Ave
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484 Amsterdam Ave
11 Unit Apartment Building $8,900,000 ($809,091/Unit) 5.12% Cap Rate New York, NY 10024
Investment Highlights
- 484 Amsterdam Avenue presents an attractive investment opportunity for a 12-unit Upper West Side residential walk-up in excellent condition.
- Featuring a high-demand unit mix with four one-bedroom, one-bath units, seven two-bedroom, one-bath units, and a two-bedroom, two-bath penthouse.
- Ideally situated between 83rd and 84th Streets with convenient access to two neighboring subway stations and Broadway and Amsterdam Avenue buses.
- Building features include a ground-floor commercial unit, a laundry room, individually metered units for electricity, and gas broiler heating.
- Nine of the units have received a full renovation and feature hardwood flooring, high ceilings, and designer kitchens with stainless steel appliances.
Executive Summary
484 Amsterdam Avenue is a five-story walk-up on Manhattan’s Upper West Side. The 19,176-square-foot building contains 12 residential apartments, a commercial space, and a basement. Benefit from an easily accessible location within two blocks from the 81 and Central Park subway station, two blocks from Central Park, and four blocks from 79th Street subway lines.
The well-maintained property has nine units that received a complete renovation in the last few years. Tenants enjoy high ceilings, designer kitchens with stainless steel appliances, and hardwood flooring. The high-demand apartment mix consists of four one-bedroom and one-bath units, seven two-bedroom and one-bath units, and a two-bedroom and two-bath penthouse unit with rooftop terrace access. Seven of the units have free market rents, four are rent stabilized, two are market rents, and one is rent controlled. Each unit is individually metered for electricity, and a gas broiler provides heating. A laundry room is in the basement for tenant convenience.
484 Amsterdam Avenue sits between 83rd and 84th Streets with prominent visibility. A restaurateur, Flor De Mayo, occupies the ground-floor commercial space and has operated out of this location for the last 23 years. This commercial space is separately metered for electric and cooking gas, with the tenant reimbursing the landlord for water and sewer consumption. The current lease is through January 31, 2029. In addition to Central Park, surrounding points of interest include Riverside Park, the AMC 84th Street 6 movie theater, and numerous dining options. Convenient access to subway stations, Broadway and Amsterdam Avenue buses, and the Henry Hudson Parkway provide efficient travel routes.
The well-maintained property has nine units that received a complete renovation in the last few years. Tenants enjoy high ceilings, designer kitchens with stainless steel appliances, and hardwood flooring. The high-demand apartment mix consists of four one-bedroom and one-bath units, seven two-bedroom and one-bath units, and a two-bedroom and two-bath penthouse unit with rooftop terrace access. Seven of the units have free market rents, four are rent stabilized, two are market rents, and one is rent controlled. Each unit is individually metered for electricity, and a gas broiler provides heating. A laundry room is in the basement for tenant convenience.
484 Amsterdam Avenue sits between 83rd and 84th Streets with prominent visibility. A restaurateur, Flor De Mayo, occupies the ground-floor commercial space and has operated out of this location for the last 23 years. This commercial space is separately metered for electric and cooking gas, with the tenant reimbursing the landlord for water and sewer consumption. The current lease is through January 31, 2029. In addition to Central Park, surrounding points of interest include Riverside Park, the AMC 84th Street 6 movie theater, and numerous dining options. Convenient access to subway stations, Broadway and Amsterdam Avenue buses, and the Henry Hudson Parkway provide efficient travel routes.
Sale Flyer
Property Facts
Price | $8,900,000 | Apartment Style | Mid Rise |
Price Per Unit | $809,091 | Building Class | C |
Sale Type | Investment | Lot Size | 0.06 AC |
Cap Rate | 5.12% | Building Size | 10,850 SF |
No. Units | 11 | Average Occupancy | 100% |
Property Type | Multifamily | No. Stories | 5 |
Property Subtype | Apartment | Year Built | 1900 |
Price | $8,900,000 |
Price Per Unit | $809,091 |
Sale Type | Investment |
Cap Rate | 5.12% |
No. Units | 11 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Mid Rise |
Building Class | C |
Lot Size | 0.06 AC |
Building Size | 10,850 SF |
Average Occupancy | 100% |
No. Stories | 5 |
Year Built | 1900 |
Unit Amenities
- Dishwasher
- Heating
- Crown Molding
- Kitchen
- Granite Countertops
- Hardwood Floors
- Oven
- Stainless Steel Appliances
- Tub/Shower
Site Amenities
- Laundry Facilities
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
1+1 | 7 | - | 500 - 650 |
2+1 | 4 | - | 900 - 960 |
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Walk Score ®
Walker's Paradise (100)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Very Bikeable (84)
Nearby Amenities
Restaurants |
|||
---|---|---|---|
JG Melon | Burgers | $ | 1 min walk |
El Gallo Taqueria | Mexican | $ | 1 min walk |
Cafe Lalo | Cafe | $$ | 1 min walk |
Retail |
||
---|---|---|
Crunch | Fitness | 2 min walk |
United States Postal Service | Business/Copy/Postal Services | 3 min walk |
AMC | Cinema | 3 min walk |
Key Food | Supermarket | 3 min walk |
Barnes & Noble | Books | 3 min walk |
Health Mart Pharmacy | Drug Store | 4 min walk |
PROPERTY TAXES
Parcel Number | 1231-0031 | Improvements Assessment | $1,557,810 |
Land Assessment | $348,300 | Total Assessment | $1,906,110 |
PROPERTY TAXES
Parcel Number
1231-0031
Land Assessment
$348,300
Improvements Assessment
$1,557,810
Total Assessment
$1,906,110
zoning
Zoning Code | C2-7A |
C2-7A |
Sale Advisor
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484 Amsterdam Ave
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