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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

Virtual Tour

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.

Sale Flyer

Property Facts

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
Walk Score ®
Walker's Paradise (100)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Very Bikeable (84)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

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

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

Sale Advisor

(347) 386-0107
Contact
Michelle Blake, Principle Broker
(347) 386-0107
Contact
Michelle Blake joined Keyah Enterprises in 2002. She specializes in condos, rentals and investment properties.
  • Listing ID: 31379002

  • Date on Market: 4/1/2024

  • Last Updated:

  • Address: 484 Amsterdam Ave, New York, NY 10024

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