Multifamily Property at 518 Fort Washington Avenue Listed

The New York Multifamily Team at Marcus & Millichap is pleased to offer the following opportunity in Hudson Heights. 518 Fort Washington Avenue is situated in prime Washington Heights, right off 183rd Street and across the street from Bennett Park. The building spans 41,552 square feet and is composed of 48 residential units. This six story elevator building has been owned and operated by the same family for over 55 years and is composed of 6 studio, 18 one-bed, and 24 two-bedroom apartments. This offers investors a unique opportunity to acquire a legacy asset in a highly desirable submarket of Upper Manhatan that contains 7 free market units destablized through IAI's. 518 Fort Washington Avenue is conveniently located a few steps from Bennett Park, The Broadway retail corridor, and the 181st Street A train.

THE OPPORTUNITY

• The Building: This 48-unit elevator building comprises 6 studio, 18 one- bedroom, and 24 two-bedroom apartments. Seven of the units were deregulated properly through IAI's

• The Metrics: 8.0% Cap Rate | 5.4x GRM | $100,000 Per Unit | $116 Per Sqft

• Prime Location: 518 Fort Washington Avenue is conveniently located a few steps from Bennett Park, The Broadway retail corridor, and the 181st Street A train.