Turn-Key 8,915 Gross SF, 20 Unit Multifamily Walk-Up Building

Description:

Ariel Property Advisors presents 302 West 114th Street, a five-story multifamily walk-up building located on the southside of West 114th Street between Frederick Douglass Blvd and Manhattan Avenue.

This turn-key property spans approximately 8,915 gross square feet and contains 20 spacious residential units. The unit mix consists of 17 one-bedroom, 2 two-bedroom, and 1 duplex apartments, of which there are 4 rent-stabilized and 16 free-market units. R7-A zoning provides investors the opportunity to capitalize on an additional 1,581 gross square feet of air rights for future development. The subject property features 14 renovated units with upgraded electric service and individual heating systems paid for by tenant. Each of the renovated units also feature stainless steel appliances, in-unit washer/dryers, and previously updated kitchens and bathrooms.

302 West 114th Street is conveniently situated a block from Morningside Park within walking distance to Central Park as well as several institutions, eateries, and attractions such as Columbia University, and Riverbank State Park. The A, B and C subway trains are located just two blocks north of the property at 116th Street and Frederick Douglass Blvd. Additional mass-transportation options are the M3, M7, M10 bus lines, all located in close proximity to the subject property.

302 West 114th Street presents investors a prime multifamily investment opportunity with tremendous cash flow. Please contact our sales team for further information and to arrange access, which will be provided by appointment only.

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