867 Riverside Dr 7 Unit Apartment Building $3,463,675 CAD ($494,811 CAD/Unit) 5.88% Cap Rate New York, NY 10032
INVESTMENT HIGHLIGHTS
- Free-market status allows rent growth in line with market conditions
- Low maintenance costs relative to building size and unit count
- Surrounded by essential services and neighborhood conveniences
- 100% occupancy with immediate cash flow
- Steps from Riverside Park, Fort Washington Park, and the Hudson River Greenway
EXECUTIVE SUMMARY
Discover a distinguished investment property at 867 Riverside Drive, nestled in Manhattan's historic Washington Heights neighborhood. This six-story, 4,550-square-foot multifamily, constructed in 1909, offers a compelling blend of historical charm and modern financial appeal.
The building is comprised of 7 free-market units - 4 studios, 1 one-bedroom, and 2 two-bedrooms - each with 11 to 12 foot ceilings and unique layouts that enhance their desirability among tenants. All units are currently leased, ensuring immediate rental income. The manager's apartment is located in the basement, providing on-site management potential.
This property promises a steady return on investment, as it allows for potential rent increases in line with market trends, offering significant upside potential. 867 Riverside Drive offers a rare balance of serenity and convenience.
With the 1, A, and C trains nearby, commuting to Midtown or Downtown Manhattan is quick and easy, making it a great choice for most renters. The area is surrounded by green spaces like Riverside Park and Fort Washington Park. The Hudson River Greenway and George Washington Bridge Path offer even more options for recreation, while local favorites like The Hispanic Society Museum, cozy cafés, and essential amenities make day-to-day life both vibrant and effortless.
The building is comprised of 7 free-market units - 4 studios, 1 one-bedroom, and 2 two-bedrooms - each with 11 to 12 foot ceilings and unique layouts that enhance their desirability among tenants. All units are currently leased, ensuring immediate rental income. The manager's apartment is located in the basement, providing on-site management potential.
This property promises a steady return on investment, as it allows for potential rent increases in line with market trends, offering significant upside potential. 867 Riverside Drive offers a rare balance of serenity and convenience.
With the 1, A, and C trains nearby, commuting to Midtown or Downtown Manhattan is quick and easy, making it a great choice for most renters. The area is surrounded by green spaces like Riverside Park and Fort Washington Park. The Hudson River Greenway and George Washington Bridge Path offer even more options for recreation, while local favorites like The Hispanic Society Museum, cozy cafés, and essential amenities make day-to-day life both vibrant and effortless.
PROPERTY FACTS
| Price | $3,463,675 CAD |
| Price Per Unit | $494,811 CAD |
| Sale Type | Investment |
| Cap Rate | 5.88% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.03 AC |
| Building Size | 3,782 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1909 |
| Zoning | R8, New York (C5) |
AMENITIES
UNIT AMENITIES
- Fireplace
- Hardwood Floors
- Views
- Walk-In Closets
- Basement
- Deck
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Smoke Free
- Walk-Up
- Smoke Detector
1 of 1
Walk Score®
Very Walkable (86)
Transit Score®
Rider's Paradise (100)
PROPERTY TAXES
| Parcel Number | 2135-0030 | Improvements Assessment | $78,240 CAD |
| Land Assessment | $112,024 CAD | Total Assessment | $180,317 CAD |
CONTACTS
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Dominique Florio -
Beatriz Moitinho -
Carlos Jacinto -
SERHANT.
