520 Ninth Ave
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520 Ninth Ave
5 Unit Apartment Building $7,943,925 CAD ($1,588,785 CAD/Unit) 5.50% Cap Rate New York, NY 10018
INVESTMENT HIGHLIGHTS
- Close proximity to the A/C/E, 1/2/3 & 7 trains at Times Square.
- Bryant Park located three blocks east and the Hudson River piers three blocks west.
EXECUTIVE SUMMARY
Unique opportunity to purchase a fully leased gut renovated prewar building with one office/ retail space on the ground floor and 3 floor through brand new 2 bed/ 2 bath residential units with top-of-the-line appliances and finishes. See income and expense details below.
Located in in between the Times Square and Hudson Yards neighborhoods and in close proximity to the A/C/E, 1/2/3 & 7 trains at Times Square and few blocks to Penn Station. Whole Foods, Hudson Yard Mall, Brooklyn Fare & Ideal Market grocery store are located within the neighborhood, as is the Hudson River Greenway, High Line as well as the best that New York is most famous for: theatrical shows and performances, fine dining, delicious affordable dining, clothing and food shopping for all budgets, and sky-high buildings and hotels. Additionally, for outdoor lovers, you also have Bryant Park located three blocks east and the Hudson River piers three blocks west.
Located in in between the Times Square and Hudson Yards neighborhoods and in close proximity to the A/C/E, 1/2/3 & 7 trains at Times Square and few blocks to Penn Station. Whole Foods, Hudson Yard Mall, Brooklyn Fare & Ideal Market grocery store are located within the neighborhood, as is the Hudson River Greenway, High Line as well as the best that New York is most famous for: theatrical shows and performances, fine dining, delicious affordable dining, clothing and food shopping for all budgets, and sky-high buildings and hotels. Additionally, for outdoor lovers, you also have Bryant Park located three blocks east and the Hudson River piers three blocks west.
FINANCIAL SUMMARY (ACTUAL - 2022) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2022) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $7,943,925 CAD | Apartment Style | Mid Rise |
| Price Per Unit | $1,588,785 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.02 AC |
| Cap Rate | 5.50% | Building Size | 3,610 SF |
| No. Units | 5 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1901/2022 |
| Property Subtype | Apartment |
| Price | $7,943,925 CAD |
| Price Per Unit | $1,588,785 CAD |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.02 AC |
| Building Size | 3,610 SF |
| No. Stories | 4 |
| Year Built/Renovated | 1901/2022 |
UNIT AMENITIES
- Hardwood Floors
SITE AMENITIES
- 24 Hour Access
- Vintage Building
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 9 | $7,435 CAD | - |
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Walk Score®
Walker's Paradise (99)
Transit Score®
Rider's Paradise (100)
Bike Score®
Biker's Paradise (92)
PROPERTY TAXES
| Parcel Number | 0762-0071 | Improvements Assessment | $147,009 CAD (2024) |
| Land Assessment | $825,446 CAD (2024) | Total Assessment | $593,660 CAD (2024) |
PROPERTY TAXES
Parcel Number
0762-0071
Land Assessment
$825,446 CAD (2024)
Improvements Assessment
$147,009 CAD (2024)
Total Assessment
$593,660 CAD (2024)
ZONING
| Zoning Code | C1-7A (Commercial district predominantly residential in character) |
| C1-7A (Commercial district predominantly residential in character) |
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520 Ninth Ave
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