31-Unit Multifamily Building in Hamilton Heights
$4,700,000
511 West 151st Street, New York, NY 10031
For Sale
Multifamily
Unknown Sub Type
Active
Last Updated: 10/02/2025
7.13
Cap Rate
334,884
NOI
Details:
Cap Rate: 7.13%
NOI: $334,884
Building Size: 26,630 sqft
Lot Area: 7,433 sqft
Units: 31
GRM: 6.97
Price Per Sqft: $176
Price Per Unit: $151,613
Zoning: R7A
Highlights:
- 31-unit, walk-up multifamily property spanning 26,630 SF
- 27 rent-stabilized units (±75% of income) and 4 free market units (±25% of income).
- Recent capital improvements include over $80,000 invested in parapet repairs and building-wide lighting upgrades, along with $30,000 in fire escape repairs (in progress)
- Close proximity to transportation: Steps from the 1 and C subway lines, providing direct access to Lower Manhattan
- Desirable unit mix: seven (7) one-bedrooms, nineteen (19) two-bedrooms, and five (5) three-bedroom apartments
- Well-maintained asset with seven (7) recently gut-renovated/modernized apartments
- Strong historical collections above 95%
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Location
Gallery
