About this property
Over 8000 square feet of livable space ready for renovation in a prime location adjacent to a major academic and medical institution!
Harlem Lofts Inc is pleased to present 546 West 165th Street, a twenty-foot-wide one-hundred-foot-deep (!) five-family townhouse on a one-hundred-and-nineteen-foot lot, situated adjacent to all the opportunities afforded by Columbia University Medical Center and Columbia-Presbyterian Hospital.
The square footage of this property is much larger than adjacent townhouses in the neighborhood (see lot plan on this listing) and approximately equates to the maximum buildable area. As such, it will be most suitable for renovation rather than redevelopment.
Each of the five units comprises approximately 1500 square feet of living space, and each has four spacious bedrooms, a living room, kitchen and bathroom. As such, and given its location, the property is poised to deliver a CAP rate of 10.91% to institutional or private rental tenants.
Alternatively, condo sellout of the renovated property is projected to gross approximately $6,750,000. Calculations for both scenarios are shown on the Setup Sheet in the Due Diligence folder attached to this listing.
546 W 165th St is also located close to the Broadway retail and restaurant corridor and Riverbank and Highbridge Parks. Transportation links are also attractive - the 168th Street subway station is just three blocks away, with access to the A express and C subway lines.
546 West 165th Street is delivered as-is and comes with existing tenants. This property represents a prime acquisition for investors situated adjacent to the opportunities offered by its location adjacent to a major academic and medical institution in a thriving neighborhood of Upper Manhattan.
Contact Harlem Lofts Inc today for your private showing!
